How banks push people into debt
Posted By: admin | 2009.11.20
take advantage of people who don’t think through the prospect of repaying debt (or who have no other option) and allow them to make minimum payments each month for YEARS thereby paying back many, many times what they initially borrowed. Watch “Secret History of the Credit Card” on pbs.org for background on how the US banking industry legally enslaves Americans. . … banks banking credit card cards scam debt bankruptcy bankrupt legalized slavery money bank bailout stimulus economy financial …
17 Comments:
sugarpuddin88 / September 25, 2008 8:38 pm
Bernanke has to bail out his lunch buddies because if they filed bankruptcy, they would have to return their Christmas bonuses, Maserati’s, Yachts, homes
Last Christmas bonuses to the top 5 Wall Street banks were greater than the GDP of Vietnam!
The Trustee of a bankruptcy court would find discover the fraud & hold these criminals personally liable!
CEO of Merrill Lynch admitted fraud 2007, & they gave him 47 million + 168 tril Christmas bonus
America is finished!
Too little – Too late!
santasxgirlfriend / September 26, 2008 6:08 pm
isnt it strange! i have only gotten 2 credit card offers this entire week as opposed to the at least 2 per day i have been getting in the mail for years!nor have i received phone calls wanting me to pay off my credit card debt with more credit card debt!
canubelieve / November 4, 2008 11:50 pm
Banks are unethical, corrupt, and greedy? I am shocked and appalled. I thought the banks were set up to serve the needs of the people. Imagine a corrupt government skipping merrily down the path with the mammoth corporate banks. Thats something that happens in shit countries. Not us in america, we have a constitution. Too bad the leadership defys it and NO ONE HAS THE NUTS TO CHALLENGE. Like Dubya said, “It’s just a goddam piece of paper.”
americasace / November 20, 2008 11:12 pm
I couldn’t agree more.. and very nice use of satire to get your point across
fairtradenow / November 21, 2008 12:42 am
Banks are made up of people right? people have ‘choice’ in what they do and how they do it. We despise the greedy bosses who set the standards and make the orders. These employees are there henchman, yet they come across like victims. I fell for it too, easy money then, tough to repay now.
We all need to take responsibility for this. Step out of the blame gameand start living with integrity.
imafishgod / November 21, 2008 1:28 am
I applaud these 2 women for speaking up against the bold faced liars.
canubelieve / November 21, 2008 1:28 am
Thank you…the way I see it is our current financial problems are a result of a corrupt system with endless ways for people to leach money off of the ever increasingly few of us who actually work and create wealth. People used to create wealth for themselves, and it was possible to work honestly to do that. Now the greatest earners shuffle papers and dollars around, bankers, insurance agents, real estate artists. A system to steal the max from those few of us who work to create the wealth.
lonwitness / November 21, 2008 2:14 am
Ha! American banking credit you deserve. This is what happens with no morals.
davidnightingale / November 21, 2008 8:34 am
I sincerely believe that banking establishments are more dangerous than standing armies, and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale. Thomas Jefferson
davidnightingale / November 21, 2008 8:35 am
If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them, will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered. Thomas Jefferson
americasace / November 21, 2008 4:51 pm
Again I concur with your assessment as that is exactly what I believe is and has been taking place with ever increasing verocity. And all with the governments blessing might I add as it is also my belief that our government is no longer a government for the people by the people, but rather for the large corporations and private banking system.
trustusyeahright / November 24, 2008 5:18 pm
this is highly accurate and just the tip of the iceburg
rumpelstillskin65 / December 22, 2008 11:39 pm
i am not one of these americans that are in debt no bank loans/car loans or credit cards here me and my wife only pay cash for what we need and we are not rich if you want it bad enough you will save the money and pay cash for it
stinky125 / January 4, 2009 9:04 pm
Cash is King…
crazycrapDOTorg / February 19, 2009 5:27 am
I can atest to this because I owe bank of America over $12,000 in debt. After the 6 month term the interest rate skyrocketed.
The person from the call center did shuffle fast through the terms and conditions and I stopped them and asked as many questions as I could. Some of their answers took me back. Not everyone is going to slow them down and ask questions.
RedClownKnight / July 8, 2009 8:19 pm
You guys should remember what Jesus did to the Bankers when he saw them in the temples.
XD
gearzone2611 / August 29, 2009 3:32 am
Even a mass of people can’t do that anymore. It’s too BIG too flp over! +D