imf debt relief
If IMF & World bank gave debt relief for the “third world” why not the credit card’s co. do the sme in USA?
As I said, if the IMF & World Bank gave a debt relief for the third world, why not our Banks and creadit Co. gave credit Card debt relief (forgiveness) who are paying tax and excessive interest (from 14-21%). This of course, doesn’t include the late fee and the penality for not paying.
For example, City Bank has an asset of #60 trillions from the profit they get from us. Bank of America has the same profit while we the middle class are becoming poorer and poorer. Is there a government who is protecting its working and middle class from rip off to death by those greedy credit card companies and Banks? Don’t you think we have to do something about it?
The banks and corporations are getting rich off of you. Why would they want to stop?
The government is owned by the same banks and corporations, so they’re not gonna help either.
I also agree with the first poster … Spending money that you don’t have is not a good idea. Of course, the only differences between City Bank and a Loan Shark is that City Bank won’t beat you up if you don’t pay and they have a corporate logo.
I disagree with the 3rd poster. Credit card companies collect a percentage of every purchase from the seller, not just finance rates. So, they make money on everyone who pays it off every month too. And come on… 21% interest rate is Organized Crime territory!
