Re: 'Finding Machiavelli' Award

According to R.K. Hammer Investment Bankers, a California credit card consulting firm, banks collected $14.8 billion in penalty fees last year, or 10.9 percent of revenue, up from $10.7 billion, or 9 percent of revenue, in 2002, the first year the firm began to track penalty fees.

The way the fees are now imposed, "people would be better off if they stopped paying" once they get in over their heads, said T. Bentley Leonard, a North Carolina bankruptcy attorney . Once you stop paying, creditors write off the debt and sell it to a debt collector. "They may harass you, but your balance doesn't keep rising. That's the irony."

Scumm.. practicing Vulture Capitalism to the limits you can juuust get away with - turns every such practitioner into Scum. And we teach cheeldrun to look at the world that way. Not even the capacity for shame exists among Suits, today.
Bring on the bombers -

As to the Mall-rats unable to delay gratification /
not the legions of abandoned single parents (with bills for partner's toys, left also to pay) / -
OK.. make that lots of Smart-bombs, then - -

Post #266,486 by dmcarls 8/31/06 4:34:22 PM Reply	Re: 'Finding Machiavelli' Award Ashton says: >>> Notice how all the CC Cos. have been persistently ratcheting up their <euphemism alert> Late Fees? They say: "...there is a good reason for the fees they charge. "It's to encourage people to pay their bills the way they said they would in their contract, to encourage good financial management," said Nessa Feddis, senior federal counsel for the American Bankers Association. "There has to be some onus on the cardholder, some responsibility to manage their finances." [link\|http://www.washingtonpost.com/ac2/wp-dyn/A10361-2005Mar5?language=printer\|http://www.washingto...?language=printer]
Post #266,509 by boxley 8/31/06 6:54:48 PM Reply	s/a/g Any opinions expressed by me are mine alone, posted from my home computer, on my own time as a free american and do not reflect the opinions of any person or company that I have had professional relations with in the past 50 years. meep
Post #266,567 by Ashton 9/1/06 6:38:17 PM Reply	Will keep last two \ufffds in mind.. According to R.K. Hammer Investment Bankers, a California credit card consulting firm, banks collected $14.8 billion in penalty fees last year, or 10.9 percent of revenue, up from $10.7 billion, or 9 percent of revenue, in 2002, the first year the firm began to track penalty fees. The way the fees are now imposed, "people would be better off if they stopped paying" once they get in over their heads, said T. Bentley Leonard, a North Carolina bankruptcy attorney . Once you stop paying, creditors write off the debt and sell it to a debt collector. "They may harass you, but your balance doesn't keep rising. That's the irony." Scumm.. practicing Vulture Capitalism to the limits you can juuust get away with - turns every such practitioner into Scum. And we teach cheeldrun to look at the world that way. Not even the capacity for shame exists among Suits, today. Bring on the bombers - As to the Mall-rats unable to delay gratification / not the legions of abandoned single parents (with bills for partner's toys, left also to pay) / - OK.. make that lots of Smart-bombs, then - -

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