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[Tvoivozhd <tvoivozd AT infionline.net>]

clanSkeen wrote:

>  
>
> > A GOP fleecing of card users
> >    
>
> Tvo,
>
> Am I missing something here?   In order for a credit card company to do
> anything to you at all, you have to agree ahead of time that they can do it.
>  

tvoivozhd---well, not really.  You do not know what they will do to you 
because it is a unilateral contract---something that should be outlawed 
in any responsible society.  There is no way any consumer can know what 
will be imposed on him by a credit card company, and without 
foreknowledge you cannot shop competition for terms or price because the 
credit card companies can alter them at will, a current ploy is to 
switch from a fixed interest rate to any variable APR they pluck out of 
the air.  No relationship to cost of course., and if they can ex post 
facto up the interest or add previously unstated penalties, it is 
enormously profitable.

> There are plenty, plenty of harm foisted on us against our will (taxes,
> regulations) that could be addressed rather than expending our energy on
> trying to protect people from their own stupidity.
>  

tvoivozhd---if you haven't noticed, you cannot address recent Bush 
regulations on environment because there are no public hearings and 
except for some bad publicity which might affect the November election 
is also completely free to do as he pleases.  The numerous Presidential 
Regulations, unlike Congressional Regulations can be  changed daily 
according to Superbriber desires, not those of the electorate.

tvoivozhd---I kind of like some stability in contracts---any contracts.  
Business (except credit card companies) publish and adhere to terms and 
prices when you buy anything else---why the hell should credit cards be 
an exception?

> I delete 100 credit card offers a day from my various email accounts.  Five
> or six people call a week offering cards and I get 15 to 20 of them in the
> mail a week.  Out of curiosity I opened one before dumping the lot in the
> trash can,.  It clearly stated on it that the interest rate would be
> something like 9% but if the holder defaulted on any credit based payment of
> any kind for any reason, the 48% rate would apply.
>  

tvoivozhd---you do not have to default or even be a couple days late in 
payment (do you remember the class-actions against credit card companies 
who received but did not enter payments in order to jump the rates?)  An 
individual would be helpless against them, individually a few hundred or 
few thousand dollars involved, not enough to hire a lawyer.  Only a big 
class-action can discourage the bastards and its both difficult and 
expensive to round up plaintiffs without access to defendant records 
(there isn't any such access under this legal system).

> I'm not going to get into being an apologist for Bush.  I don't doubt a
> thing in the article you attached.  But so far Bush has not proposed any law
> that *forces* anyone to have anything whatever to do with these credit card
> companies.
>
> James
>  

tvoivozhd---he doesn't force anyone to get a credit czrd, but DOES force 
them to pay outrageous interest rates and lunatic penalties by 
prohibiting States from making various kinds of credit card fraud 
illegal and remediable by both injured individuals and State Attorneys 
General.  The unilateral contract and contract law in general has been 
under State jurisdiction.  It should remain there and would except for 
the fact Bush got $25,000,000 in bribes this year from MBNA, Chase 
Manhattan and the other members of the Credit Card Mafia.

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