Credit Card Companies Cordially Invited to Washington

“Yes!” I bellow in a cry of justice. As per the Washington Post, the big 14 Credit Card Companies were cordially invited to Washington DC to discuss federal regulation and credit card legislation. Now, I know some believe the Credit Card Companies to be Gods of the economy and the fault lies in us debtors. Yes to some, carrying credit card debt is a sin and many of us should be condemned to the fiery pits. But shalt I remind ye of the Lord’s Prayer, “Forgive us our debts, as we forgive our debtors.” Judgment of others is so very much an unbecoming human characteristic.

Regardless how good you have been with credit cards in your life, the fact remains Credit Card Companies are ridiculously exploitative and I thank the Obama administration for standing up for the little guy. Curiously in reading the article, not all credit card companies have RSVP to the little soiree. Not surprising, Capital One agreed to be there with bells on their feet, but no doubt flanked by Barbarians. They are of course not only the kiss asses of the credit card industry, but they are often the worst offenders of consumer exploitation. They talk a good game and have kick ass ad campaigns, but when push comes to show, they are ruthless just like the barbarians who promote them.

It was Bank of America and American Express who denied being invited to the party. “Me, heck no.” And Citi Bank declined to comment on the party invitation. You know, it is impolite not to RSVP for a party. This only proves one thing-guilt. Yes, denial means you are guilty if you cannot go and face the Feds. Let me give one suggestion, do not fly to Washington DC in corporate jets or better yet your Superman capes. That might not go over too well.

Honestly, personally I feel a vindicated; ridiculed by “credit experts” for having debt and have the nerve to write a book about the exploits of creditors. I feel vindicated because me like many others; some with worse credit card debt and others with much better all have in some way or another seen the consumer gauging. Look, there is absolutely no reason why someone in debt has to pay 26% interest. There is absolutely no reason to reduce credit limits leaving your costumers stranded. There is absolutely no reason for double billing. Loan sharks don’t charge that much! Loan sharks don’t change the terms and billing cycles. Loan sharks offer better terms of service than credit card companies.

I stand up and applaud the Democratic congress and the Obama administration for bringing back financial accountability and corporate responsibility back to our nation. It starts as I have always said at the top and trickles downward. You can’t expect consumers to be 100% responsible when the corporations have not. These companies and may I reminded you have requested bail out and tarp money, so even a big corporation has been bad with finances. And I thank them for making it possible for many to achieve their financial freedom without having to pay someone else. Thank you!