Letters

Letters 05-18-2015

Will History Repeat Itself? What large patterns or trends can guide our ideas about the next century? We can look at the history of Easter Island as a warning about the dangers of a future crisis.

Applauding Michigan’s Renewable Standards Recently, state legislators introduced dueling initiatives that would impact the state’s existing Renewable Portfolio Standard (RPS) expiring at the end of the year very differently.

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Jackie Freeman

 
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Monday, March 9, 2009

Bandits in our banks

Other Opinions Jackie Freeman You get what you pay for. American Bankers Association affiliates are the biggest contributors to congressional members. You’d have to be extremely naïve to believe that bills are not influenced by where the money is coming from.
Our own Senator Carl Levin introduced a bill “Stop Unfair Practices in Credit Cards Act” to help curb unscrupulous credit card practices. Its purpose was to ban egregious practices by credit card companies that exploit consumers and keep them mired in lifelong debt.
But Congress gave in, and offered them a year-and-a-half to mend their evil ways. During this time they will ramp up their victimization of Americans. During this delay, credit card companies will run their businesses like bandits, raising rates now in anticipation of future limits to their authority. Millions more families will become financially desperate as a consequence
Why do huge financial giants like GE Money bank, Citigroup, Bank of America, Wells Fargo, Chase, American Express, Discover and their colleagues need a year-and-a-half grace period before cleaning up their business practices? It has been stated that 18 months is necessary to “upgrade the banks’ computers.”
 
 
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