US Citizens Starting To Rebel Against Wall Street

[MandelbrotSet]

Quote from Scataphagos:

Does that mean... that with your argument, it's perfectly legal and moral for everyone to refuse to repay their charges? More that that, it's the RIGHT thing to do?

Depending on he contract, the amount of money involved, and the city/state/country the transaction takes place, it may be perfectly legal.

Morals and ethics have a very specific meaning as they relate to business. They (most definitely) do not have the same meaning as when they relate to individual persons, or interpersonal relationships.

 

[lrm21]

Quote from Scataphagos:

Does that mean... that with your argument, it's perfectly legal and moral for everyone to refuse to repay their charges? More that that, it's the RIGHT thing to do?

I believe his point is that that agreements are just agreements there is no morality to them.

You pay charges for whatever reason you want. But the law does not care if you are paying them for moral reasons or if you are not paying for moral reasons.

Again you are the one ascribing moral ity to contractual arrangements which are void of morality.

 

[sprstpd]

I find it ironic that Bank of America was and may still be insolvent because of idiotic decisions it made and some people are pointing their fingers solely at this woman for being an idiot.

 

[lrm21]

I just came across this tidbit in a totally unrelated article from WSJ

http://online.wsj.com/article/SB10001424052970203440104574400792835972018.html?mod=rss_opinion_main

....Consider, for example, the United Kingdom bank Lloyds TSB. From 2001 to 2004, on behalf of Iranian banks and their customers, the bank admitted in a statement of facts to my office that it intentionally altered wire transfer information to hide the identity of its clients. This allowed the illegal transfer of more than $300 million of Iranian cash despite economic sanctions prohibiting Iranian access to the U.S. financial system. In January, Lloyds entered into deferred prosecution agreements with my office and the Justice Department to resolve the investigation....

Mr. Morgenthau is the Manhattan district attorney. This op-ed is adapted from a speech yesterday at the Brookings Institution in Washington, DC

We are at war. People are only realizing it now.

The financial and political system in place right now is no friend of yours.

 

[Lethn]

Quote from sprstpd:

I find it ironic that Bank of America was and may still be insolvent because of idiotic decisions it made and some people are pointing their fingers solely at this woman for being an idiot.

People attacked my dad apparently when he said that the banks were going to fail before the recession. Stupidity and ignorance unfortunately effect the majority of humanity which is why we have a hard time getting things done.

 

[fkbsuhites]

getting bussed around with health insurance corporate funds trying to destroy democracy is probably more fun



<object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/VG-bKyq4ww8&hl=en&fs=1&rel=0"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/VG-bKyq4ww8&hl=en&fs=1&rel=0" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object>

Quote from Lethn:

About damn time people started getting angry at the RIGHT people, people like Wall Street would love nothing more than for the people to go Nazi and blame their problems on their foreign business rivals.

 

[Rickshaw Man]

Quote from BPtrader:

You are talking about banking laws that favor the banks?

You should go to some other countries and see what will happen if you don't pay your debt.

They break your legs if you don't pay back what you borrow!!!

If you cannot pay back, they make your sons and grandsons pay!!!

That is called fiscal responsibility, which people in this country don't have.

In this country people simply walk away from their debt such as house mortgages. This is unimaginable in some countries. In those countries, you never walk away from your debt, there is something called dignity in their lives. Of course, dignity doesn't exist in this country.

The collapse of so many banks in the US is directly due to the irresponsible borrowers and a lack of debt enforcement laws (e.g., breaking your legs if you don't pay your debt).

If you run a bank, this woman is the last person you want to see. She and her fellowmen/women will ruin your banking business.

No such thing as irresponsible lending in your eyes I bet. What about the banks that sold swaps to counties and bankrupted them, Alabama
comes ti mind.

There is an article in this months Bloombeg magazine about Chase bank selling swaps to towns in Italy. Italy has finance cops that help the people. The seized assets from the bank in this case.

 

[Rickshaw Man]

Quote from the1:

Another thing....if you decide to stop paying or you lose your job and you can't pay your credit score will obviously tank and that will affect your ability to get another job. About 50% of employers nowadays run credit checks as part of a background check. If your score is below X you ain't getting the job no matter how qualified you may be. It's an awful catch-22. You can't get a job because your credit sucks and you can't improve your credit because you can't get a job.

In normal times this applys, are we in normal times? This crisis is touching 1 in 4.

 

[Rickshaw Man]

Quote from the1:

I agree but she's gonna be screwed for a long time. She won't be able to get a job anywhere with that on her credit rating. She doesn't get away from this without consequences but I do applaud her for giving BofA the middle finger.

You say...She won't be able to get a job anywhere, that’s simple not true. We are in a historic crisis, this is the worst crisis in the last 70 years. Employers understand what going on and will make exceptions.

Pretty soon people will be able to file discrimination suits against any employer who list’s poor credit as there reason for not hiring, just watch.

If anything the employer may hire her because she is having such a hard time. She must make her case.

 

[Rickshaw Man]

Quote from AyeYo:

Wrong.

I hate her because I pay my CC bills, IN FULL, on time. There's no reason she isn't allowed to do the same.

SHE took on the debt.

SHE decided to carry the debt.

SHE chose to default on the debt rather than pay it off in full.

It's because of whiny, entitlement idiots like her that my sweet 3% cash back card will eventually not pay me a dime. I enjoy making money off the CC companies while they make none off me. It's a simple concept, really - don't spend money you don't have, which will allow you to never carry a balance.


Chase and Capital One haven't made one single penny off me since I got my first card at 18 years old.


I'm sick to death of listening to morons like her whine and complain about the evil CC companies, after THEY put on the debt. These are the people that will carry $10k on a credit card for 15 years at 25%, while continuing to buy cars, homes, toys they can't afford, and going on vacation every other month. Let them burn. I don't care. Let BAC jack her rate to 90%. I don't care. Hell, let Chase jack MY rate to 1000000000%. I couldn't care less because I'll never see it put to action.


Blame the government, the CC companies, banks, the media, society, her family, Obama, Osama... whoever you want... no one FORCED her to take on the debt. If she wants to get mad, look in the mirror. Anyone making minimum payments on their massive CC debt clearly has a sub-kindergarten level of understanding of finance.

As it is, give that bitch another, fresh, zero balance card and history will repeat itself. Let her learn how to handle CC's the hard way.


Hang on, I'm about to go max out all the my cards then tell my CC companies I'm not paying them anything because their interest rates are ridiculous. *eyeroll*

She lost her job you dope. If you had no imcome how long before you end up just like her?