Comments on: I guess you’ll get involved once you’ve “lost your backpack and lunch money,” one too many times. http://www.changeinterms.com/2009/10/12/i-guess-youll-get-involved-once-youve-lost-your-backpack-and-lunch-money-one-too-many-times/ Now We're Coming After You Thu, 18 Feb 2010 01:41:49 +0000 http://wordpress.org/?v=2.8.5 hourly 1 By: Alessandro Machi http://www.changeinterms.com/2009/10/12/i-guess-youll-get-involved-once-youve-lost-your-backpack-and-lunch-money-one-too-many-times/comment-page-1/#comment-1712 Alessandro Machi Mon, 12 Oct 2009 19:02:35 +0000 http://www.changeinterms.com/?p=2272#comment-1712 Why do the banks seem more interested in causing defaults, foreclosures and bankruptcies than helping their blue collar customers? One theory is that in the long run, maximum profits will come from those who either have high income, or, those who have the worst credit ratings. So, rather than massage the blue collar middle of the road consumer who might need minimal help, banks have taken the path of either you are a high end, sapphire credit card customer, or you are a deadbeat who must pay premium prices for any type of future loan. This would explain Chase Bank's apparent motivation to default their customers by raising credit card interest rates and monthly minimum payments on their low interest, life of the loan agreements. I just don't believe Hillary Clinton would have allowed the banking behavior to go on that Barack Obama seems to be embracing. Why do the banks seem more interested in causing defaults, foreclosures and bankruptcies than helping their blue collar customers? One theory is that in the long run, maximum profits will come from those who either have high income, or, those who have the worst credit ratings.

So, rather than massage the blue collar middle of the road consumer who might need minimal help, banks have taken the path of either you are a high end, sapphire credit card customer, or you are a deadbeat who must pay premium prices for any type of future loan.

This would explain Chase Bank’s apparent motivation to default their customers by raising credit card interest rates and monthly minimum payments on their low interest, life of the loan agreements.

I just don’t believe Hillary Clinton would have allowed the banking behavior to go on that Barack Obama seems to be embracing.

]]>