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The Next Scam of the Century “The Fix is In” Credit Card Co & 2005 Bankruptcy Laws

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Stinger2 Donating Member (352 posts) Send PM | Profile | Ignore Sun Apr-26-09 01:07 PM
Original message
The Next Scam of the Century “The Fix is In” Credit Card Co & 2005 Bankruptcy Laws
The Next Scam of the Century “The Fix is In” Credit Card Co & 2005 Bankruptcy Laws

The Next Scam of the Century, American Express, Discover, JCB, MasterCard, Visa,
Bankruptcy Laws

On October 11, 2006, Visa announced that some of its businesses would be merged and become a publicly traded company, Visa Inc.<6><7><8> Under the IPO restructuring, Visa Canada, Visa International, and Visa U.S.A. were merged into the new public company. Visa's Western Europe operation became a separate company, owned by its member banks who will also have a minority stake in Visa Inc.<9> In total, more than 35 investment banks participated in the deal in several capacities, most notably as underwriters. The law firm Davis Polk & Wardwell served as counsel to the underwriters, while the law firm White & Case LLP served as counsel to Visa Inc. in the global restructuring process.

http://en.wikipedia.org/wiki/Visa_Inc.

This country is in such a mess, directly linked with the last 8 years, ether by changing laws or just by ignoring them. From torture to unprovoked wars to everything finance.
American Express, Discover, JCB, MasterCard, Visa, are multinational co. ready to do what the oil companies did so well, steal the country blind, hurting the middle and lower classes the most with no mercy.

AL-QADI HANI of Jordan Visa V.

18-Mar-09 208 V Disposition (Non Open Market) at $56.31 per share.
(Value of $11,712) 25-Mar-08 100,000 V Purchase at $44 per share.
(Cost of $4,400,000)

http://finance.yahoo.com/echarts?s=V#symbol=V;range=2y

When the game is rigged you have a better chance of reaping profits by changing the rules in the last 8 years, its called the fix is in, Monopolies have been part of the game that ignored the laws of old, like the new 5 big oil companies to allow gas price fixing, hence billions in profits for those connected. Telecommunications like the new AT&T and the 5 major credit card co., that are ready to pull off the next scam of the century.

New Bankruptcy Law

On October 17, 2005, the new bankruptcy law change that the Congress of the United States of America had previously passed went into effect. This law protects giant credit card companies and multinational credit banks from themselves and their own excesses and bad faith lending practices.

At The Law Office of Mark A. Reed, Esq., we believe that the new bankruptcy laws need to be amended to take into account the fact that large creditors have created many of their own problems, and now want to be protected from their own lack of responsibility.

http://www.markreedlaw.com/PracticeAreas/New-Bankruptcy-Law.asp

This is what Wall Street loves when the “Fix Is In” Change the laws, like the bankruptcy laws so when card holders are stuck with a dismal economy, that the banks helped to make, then charge outrages interest on Credit Cards to make billions more.

The one way to fix all this and stick a hot poker in there eye is change the bankruptcy laws back. Bailout the people they screwed with policies like giving loans to anyone that can make a X.

The Bankruptcy Bill, Examined

The details of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 reveal it to be a bill crafted as a Republican paean to MBNA, the largest single contributor to the Republican party. Far from being either an effort to stem "Bankruptcy Abuse" or an effort at "Consumer Protection", the bill is in fact an attempt to rewrite bankruptcy laws to reduce the ability of those laws to protect consumers from predatory lending practices on the part of MBNA members, and to stiffen the capabilities of those corporations to collect from consumers already suffering from extreme financial hardships.

http://www.dailykos.com/story/2005/3/6/63144/06015

After years of corruption, Pay Offs, to change laws, the country is feeling the hurt, we need a bail out, demand Bankruptcy Laws put back that came into effect by the Worst Administration in History of the USA.
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ThomCat Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-26-09 03:23 PM
Response to Original message
1. That bankruptcy law needs to be repealed
and every Democrat who voted for it should be publicly apologizing for supporting such and obvious republican giveaway to corrupt banks.

We need real legislation to block predatory lending, and we need legislation to streamline bankruptcy. A lot of people will need an easier path to bankruptcy in the near future because of the dismal economic swamp the republicans have created.
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maryf Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-26-09 06:03 PM
Response to Reply #1
2. It was Biden's bill, by the way...
he is from Delaware after all...
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Froward69 Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-26-09 11:15 PM
Response to Reply #2
3. yeah yeah we have
been over this at-nausea. I never liked it either. Joe Biden WAS a senator from Delaware and Banking is it's largest employer.

Biden did what he had to do for his former constituents. I would Hope as VP he has the sense to see how badly it contributed to screwing up the rest of the country.
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chimpymustgo Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-27-09 01:12 PM
Response to Reply #3
6. What about his CONSTITUENTS who don't contribute millions to him, but suffer the consequences of the
damn bill?
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WhiteTara Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-26-09 11:24 PM
Response to Reply #2
4. and Dodd was another big rahrah
They definitely helped put the fix in.
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JDPriestly Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-27-09 06:25 AM
Response to Original message
5. MBNA is now Bank of America
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