 Noah VailSon made my AvatarPremium
join:2004-12-10
Lorton, VA
kudos:1
 ·Bright House
 ·Sprint Mobile Br..
| PBS - "The Secret History of Credit Cards" It was originally released, sometime before the Housing Crash.
OK. Not much history or all that secret. It was still informative.
I learned some things about the OCC.
It also put Andrew Kahr on my radar. I hadn't heard of him before.
»www.youtube.com/watch?v=Mew00va0Gi0
I watched it w/ my kids. It made some arguments better than I would have.
Mostly it reenforced the lesson that doing business w/ scumbags doesn't really help anyone but scumbags and their chorus of shills.
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Adopting other people's animosity is The New Stupid. |
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 freezeI'm not even GreekPremium
join:2001-05-13
Ohio | Released in November, 2004
I'm guessing most of the information presented here is still relevant today... |
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Reviews:
·Cox HSI
| reply to Noah Vail
It is really nothing more than smart people preying on dumb people. Especially when they were talking to those 4 people who currently had cards. "I'm keeping a nest egg for when shit goes south... But I wont use it to pay the card off." They could instead pay the card off right now, and until their nest egg gets back into shape they could use the card again for emergencies. In the absolute worst case scenario they break even money wise and in the best case scenario they are no longer paying interest and those interest payments go into their accounts instead.
Although I will say that some of the things done in the industry are downright shady. They really shouldn't be allowed to change an interest rate on past balances or if they can there should be a cap to how much it can change. |
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Noah VailSon made my AvatarPremium
join:2004-12-10
Lorton, VA
kudos:1 Reviews:
·Bright House
·Sprint Mobile Br..
| said by PinkyThePig:It is really nothing more than smart people preying on dumb people. Laws that allow consumer abuse, are initially composed by industry lawyers.
Once industry language becomes public law, a lot of folks support/defend the consumer abuse that follows.
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Adopting other people's animosity is The New Stupid. |
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 John GaltForward, MarchPremium
join:2004-09-30
Happy Camp
kudos:3 | said by Noah Vail:Once industry language becomes public law, a lot of folks support/defend the consumer abuse that follows.
Pay day loans are a good example of this, too.
That industry is always good for a cash infusion into legislators pockets, especially near election time.
But that is what the sheeple are for...to get sheared.
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»www.archive.org/details/Meatpies_1984
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