Credit Card Fee Hiker

President Bankrupt Blank Check Obama met with a bunch of Credit Card Bankers yesterday. He publicly chastised them for screwing the American public with arbitrary fee and interest rate hikes. He called for a cap on interest rates the banks could charge and for simpler language in the credit card statements.

Regarding simple language in the credit card statements - when you have a bunch of Congressman, most whom are inept lawyers, drafting complicated banking legislation and then have bank attorneys interpret the laws, you get COMPLICATED credit card statements. Has anyone (other than my brother) every read one of those stupid privacy mailings from a bank?

The bankers are getting what they deserve. They are notorious for hiking fees, especially after they have destroyed the economy with bad lending. They love fees-- overdraft fees, ATM fees, transaction fees, late payment fees, points on mortgages etc. And they love to charge interest rates at 5 to 30 times the cost of their money. All this and THEY STILL CAN"T TURN A PROFIT. What morons.

Memo to Mr. Obama: Tell all these past due consumer stiffs to cut up their credit cards and start paying back their loans. The rule of credit should be the higher the risk, the higher the interest rate. Stop trying to treat every credit card customer like he or she is an ACORN sub prime victim.

Memo to the Bankers: If Obama gets his way with this legislation, keep reducing the credit limits to all the stiffs out there. They aren't going to pay you back anyway.

Final solution for the Feds and the Banks: Make this the last paragraph on the simple statement on ALL PAST DUE ACCOUNTS:

Press 1 for English.

Press 2 for Spanish.

Press 3 if you are past due and need a zero percent fixed interest government bailout.

                                                                                    
                                                                              Press 3 for Old Fashioned Bailout