Americans now have the highest credit-card debt in U.S. history

How do banks stick you with massive debt? It's your decision to just say " charge it"not there's.You remind me of people who say fast food joints made them obese like they were forced to eat this garbage.

 

Well, some didn't learn.....just the other day I'm at the drive up at a bank.

I can hear the teller talking to the driver of the ESCALADE, big honkn' overpriced truck.

She said twice, "your checking account is at zero"........."Your checking account has no funds"...


So how Big Boy going to make the next payment on his toy? Did he think before he bought? Not really.....deserves to lose the truck and his house .

 

That's not entirely true. Wells Fargo is now in trouble (again) for hiding the fact that they used auto loan payments to give car owners insurance they didn't need nor ask for...Wells Fargo made a mint, customers lost their autos...


There aren't too many things more dishonest than bankers.

 

As someone who only existed as a "consumer" for FAIR DEBT COLLECTION PRACTICES and not for knowledge and consent before a funny National Treasure Sweepstakes (see my last post) was hidden in the attic--I take offense at that.

Pay ******n attention:

“You have probably caught that Visa credit card commercial in which a wily wife hides her many shopping sprees under the bed and up in the attic, all out of sight from her clueless husband.
The punch line is that she could have won all that stuff she rung up on the plastic. But the reality behind such behavior is hardly a laughing matter.” (Rene a. Guzman, San Antonio Express-News Jan. 12, 2005 12:00 AM)

Neither Feeney or Kosmas responded to this:

"No creditor shall issue debt to any household which could exceed a 36% debt to income ratio, without the written knowledge and consent of both spouses or domestic partners in the household and each and every creditor the household already owes."

*****

The FED told congress that banking vampires need access the household income on the invite of one, for a National Treasure Sweepstakes blood bank in the attic, so they have the funds to loan to small business.

If you do not understand what I said there, you probably missed the FED speak too.

“Thank you for contacting my office regarding debt in a marriage, your concerns are very important to me. While I would like to be of assistance, my office is only able to assist constituents with federal issues. Therefore, I have forwarded your letter to your local State Representative Dorothy L. Hukill…” (Sandy Adams, Member of Congress)

 

It's called personal responsibility and blaming a commercial whether it's for credit cards or a yummy Big Mac with fries is your decision to make. I see the same commercials and don't eat junk food and pay my Visa off every month. What was your point again?

 

What failed assets? How were they taken off of the books? Again, you aint got a clue.

 

Are you stupid or something? Pay attention, a married person BY LAW does not have the right to say no to the HOUSEHOLD credit cards. The spouse is only a "consumer" for purposes of debt collection, it is why I got hundreds of calls that hung up after the 2004 hurricanes, they were for the two Discover cards, two Capital One cards, and two Chase cards, and other cards I never had knowledge and consent to. I have filed many consumer complaints about them refusing to comply with the FAIR DEBT COLLECTION PRACTICES act for refusing to tell me of my now ex-spouse's debts.

Previously posted above, read it, understand it, the law allows that Big Mac National Treasure Sweepstakes VISA to be shoved down a spouse's neck:

“Amendment Allows Consumers Who Are 21 or Older to Rely on Accessible Income for Credit Card Applications

WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) updated existing regulations to make it easier for spouses or partners who do not work outside of the home to qualify for credit cards. Today’s amendment, first proposed by the Bureau in October 2012, allows credit card issuers to consider income that a stay-at-home applicant, who is 21 or older, shares with a spouse or partner when evaluating the applicant for a new account or increased credit limit.

“Stay-at-home spouses or partners who have access to resources that allow them to make payments on a credit card can now get their own cards,” said CFPB Director Richard Cordray. “Today’s final rule is an example of the Bureau’s commitment to working with consumers and financial institutions in order to ensure responsible access to credit for American families.”

The Credit Card Accountability Responsibility and Disclosure Act (CARD Act) became law in 2009. The CARD Act requires that card issuers evaluate a consumer’s ability to pay before opening a new credit card account or increasing a credit limit. Under current CARD Act regulations, a card issuer generally may only consider the individual card applicant’s independent income or assets.” http://www.consumerfinance.gov/news...ome-spouses-and-partners-to-get-credit-cards/

See the FED ruling:

“The Federal Reserve's rule told credit card companies that they no longer can consider household income when assessing the creditworthiness of an individual who applies for his or her own card. Under the rule, only an individual's own salary or other income -- rather than combined household income -- can be considered.”
Read more: http://www.creditcards.com/credit-c...cards-household-income-1282.php#ixzz3WiwAm9JK

See the reason to oppose it:

“Opposition from CARD Act authors
U.S. Reps. Carolyn Maloney, D-NY, and Louise Slaughter, D-NY, both among the principal authors of the CARD Act, said the rule "goes beyond the intent" of the law and "represents a serious risk for women in abusive domestic partnerships."

"Women trapped in abusive marriages may be unable to work due to a controlling spouse, a hallmark of relationships characterized by domestic violence," Maloney and Slaughter told the Federal Reserve in a letter as it was considering the rule. "The availability of an independent credit card may represent her best chance at establishing independence and a path out of a dangerous relationship."

After the rule was announced, Maloney and Slaughter said they would be studying its implementation and would report any problems to the new federal Consumer Financial Protection Bureau, which could write its own rules beginning in July.”
Read more: http://www.creditcards.com/credit-c...cards-household-income-1282.php#ixzz3Wivmh5r8

 

The GOP in control? Of what? The economy? Guess again....

This time, please bother READ what I'm saying (if you're going to snipe at me) -- Idiot Bush didn't control either the economy or the Fed. Idiot Obama didn't control either the economy or the Fed. And, it is HIGHLY unlikely that Trump will be able to control the Fed, either (the 'jury' is still out on Trump and the economy because the man hasn't even had his hands on the 'controls' for seven months yet.). By contrast, Idiot Bush and Idiot Obama each had EIGHT YEARS....

You hyperlibs don't get this at ALL. Your forebears put this monstrous central bank called the "Federal Reserve System" into existence 102 years ago, under a liberal Democrat Congress and under what would become one of the worse presidents we ever had -- Woodrow Wilson! Ever since then we've had an increasingly manipulated economy -- but never more so than since the beginning of "The Great Recession" exactly ten years ago this month. Now the Fed controls EVERYTHING of any importance in the economy at all!

I'm not trying to 'defend' Trump. No need to. He hasn't screwed up the economy (yet). But he certainly hasn't come out loud and bold against the Federal Reserve combine, either. IT has controlled everything of significance in the economy since before Trump, Obama, or "W" Bush were even born!

."We liberal 'Progressives' know what you need -- A CENTRAL BANK to run the economy!"

 

Persistent little cuss aren't we?

 

Yeah, and perhaps one day you'll even demonstrate it

 

We're poor learners, and because we ignore the lessons of history we are condemned to repeat them.

 

James Carville…“It’s not Camelot stupid,” if it was we could blame the economics of the failure of “repeal and replace” on Trump.

The fact is the FED did tell Congress that the banking industry relied upon irresponsible debt of spouses to fund small business loans, it was another component of the credit crunch. That is why the banking industry was against this ruling, which was the result of an accident by U.S. Reps. Carolyn Maloney, D-NY, and Louise Slaughter, D-NY (see above postings):

“The Federal Reserve's rule told credit card companies that they no longer can consider household income when assessing the creditworthiness of an individual who applies for his or her own card. Under the rule, only an individual's own salary or other income -- rather than combined household income -- can be considered.”
Read more: http://www.creditcards.com/credit-c...cards-household-income-1282.php#ixzz3WiwAm9JK

If you have more than $30,000 dollars in credit card debt, you did not have knowledge and consent to; it could make you very angry:

"Women trapped in abusive marriages may be unable to work due to a controlling spouse, a hallmark of relationships characterized by domestic violence," Maloney and Slaughter told the Federal Reserve in a letter as it was considering the rule. "The availability of an independent credit card may represent her best chance at establishing independence and a path out of a dangerous relationship." http://www.creditcards.com/credit-card-news/stay-at-home-parent-credit-cards-household-income-1282.php#ixzz3Wivmh5r8


Now I am out of the dangerous relationship of having no say in my household debt, but others are not.

 

Well maybe then you'll demonstrate your depth of understanding on the topic.
Here's your big chance

 

I am the last one who will ever teach you anything. Best that you go back to your handlers and let them explain as well as they can.

 

Bottom line is whoever goes into debt is to blame, not the law that allows them to go into debt.

 

That is one of the better excuses I've ever heard. Total fail, but entertaining none the less.

 

Bottom line. Debt is a business transaction involving a creditor and a debtor. Whoever extends credit is solely responsible for their losses should the debtor fail to pay. This includes extending credit to other big banks who leverage up on exotic derivatives products based on credit extended to poor candidates.

You are correct, nobody makes the debtor borrow. Nobody forces the creditor to loan either.

 

Now her future debts (and bailouts) belong to you, comrade.

The bottom line is whoever goes into Socialist debt is to blame, not the Obamanation that allows them to go into debt.

 

I don't have the time to explain it and it is hard to explain but of course you sign the loan. The system is set to get people in debt and paying it. Amazing how you can so easily deny it when the entire nation is struggling to pay debt. The game is rigged for you to get into debt. Of course not every single one of us is paying debt but open your eyes for a second instead of being exactly who they want. They want you to police me and tell me I'm nuts. The same people in charge of the Fed, own the banks, the beef industry, oil, pharm, farming, etc. I knew it would be met with the sheep response.

 

Man, you know your stuff.

 

Except TBTF

 

Not if we do nothing.
They take care of themselves too

 

Lets stick to you blaming Obama, while the GOP was in control. That's just irrational at best. That is even besides the point that Trump got Obama's seat fot half a year now. And lets stick to that, because that is what I replied to.

 

And the odds of that?

A total of eight U.S. banking mastodons are considered to be among “global systemically important banks”—a.k.a. too big to fail—that pose a threat to the global economy and financial stability if they were to collapse.

J.P. Morgan Chase
Citigroup Inc.
Bank of America Corp.
Goldman Sachs Group Inc.
Morgan Stanley
Bank of New York Mellon Corp.
State Street Corp.
Wells Fargo & Co.

 

No surprises from you! Just what I would expect from a hyperliberal Leftist -- but you completely missed the fact that I did NOT blame Obama for the big stinking, unfair, rotten mess that the Federal Reserve has made of this whole thing! As I pointed out, over and over, both Obama and Bush, each of whom had EIGHT YEARS TO MAKE A DIFFERENCE, instead rolled over and let the Fed take over complete control of the economy. Idiot Bush was like a witless 'deer-in-the-headlights', blindly following every word Henry Paulson and Ben Bernanke said... and Idiot Obama was, from DAY-ONE, the Fed's docile, obedient lapdog, turning over all control of the economy to this overbearing, unconstitutional gang of conniving central bankers.

But you imagine that somehow Trump is to blame? OK, you've got the floor -- in what way is Trump to blame?! Tell us all! And what was the fault of the GOP? They also were more than happy to play the lapdogs for the Fed. None of them, except for Ron Paul and Rand Paul, dared to challenge those internationalist slimebags in the Federal Reserve combine....

But Trump? Hell, he's only been in office since late January of this year, fighting rabid Democrats and obstructionist, chickensh*t RINO's in the Republican Party, nonstop. And you think that he's responsible for Americans stupidly and willingly blundering into the biggest credit card debt in history?

Suggestion: Hate Trump all you want, have a ball -- but at least root the hatred in something that makes at least a little bit of common sense or you run the risk of sounding like a blithering idiot....

Hint: want to see Americans stop digging their financial graves with credit cards and diving even deeper into debt? Raise interest rates up to where they SHOULD BE when there's this much demand for MONEY!