dagblog - Comments for "Credit Card "Reform" By And For The Card Issuers"

But really PseudoCyAnts is

Rutabaga Ridgepole — Fri, 01 Jan 2010 00:44:46 +0000

In reply to Credit Card "Reform" By And For The Card Issuers

But really PseudoCyAnts is one of the less idiotic Obamoids around, patiently running down links favorable to Obama month after month. Why? I don't know.

So now just about the very last people who have any faith in anything about the United States have been co-opted by the miserable con-man Obama, and on the other side a few million reactionary hoodoos still hope that Republicans can bring back the good old days.

And the rest of us aren't even players in the game... just a few tiny voices in the void between reaction and naïveté.

Great post, oleeb. Here's a

San Fernando Curt — Thu, 31 Dec 2009 18:30:30 +0000

In reply to Credit Card "Reform" By And For The Card Issuers

Great post, oleeb. Here's a suggestion for the MSM, especially financial desks: Stop being megaphones for the power blocs. Poke around, find out what's going on and tell us the truth. You're going out of business because you're drowning in your own BS.

It's expected that our political "community" would lap-dog the industry; it's rare when it does not. But one more lying PR puff piece about this or that on the front-page of a respectable paper and I'll... I'll...

...Keep reading TPM!

Those headlines were designed

Rutabaga Ridgepole — Thu, 31 Dec 2009 18:09:17 +0000

In reply to Credit Card "Reform" By And For The Card Issuers

Those headlines were designed for dim-witted right-wing Democrats like PseudoCyAnts, and if that clown had bothered to read the articles below those headlines, he might have comprehended that the "explanation" by Discover left out everything except credit-card "reform."

Discover's profits were down 9.1% from the same quarter last year, and it must be the fault of that wonderful or awful "reform"...

If you forget that the US economy spent most of last year in free-fall, and consumer spending crashed.

PseudoCyAnts replies "Consumer spending has nothing to do with credit-card profits! It was those evil or lovely regulations that done them in!"

What an idiot!

PseudoCyAnts replies "But I didn't say nothing! I just posted some links! Yup! Yup!"

Peter Eichenbaum, "Discover

PseudoCyAnts — Thu, 31 Dec 2009 04:32:46 +0000

In reply to Credit Card "Reform" By And For The Card Issuers

Peter Eichenbaum, "Discover Shares Decline as New Rules Crimp Profit ", Bloomberg, December 17, 2009
Juan Lagorio, "U.S. credit card companies face tough 2010 with new rules", Reuters, December 24, 2009

http://www.pbs.org/now/shows/

wendy davis — Thu, 31 Dec 2009 00:35:24 +0000

In reply to Credit Card "Reform" By And For The Card Issuers

http://www.pbs.org/now/shows/501/credit-traps.html

One eye-opener for me was the Frontline episode "The secret history of the credit card." Brrrrrr. South Dakota and Connecticut pols and rampant capitalism.

It was decidedly a Crap Bill.

wendy davis — Thu, 31 Dec 2009 00:22:47 +0000

In reply to Credit Card "Reform" By And For The Card Issuers

It was decidedly a Crap Bill. But if (and that's a BIG If) Elizabeth Warren gets her way, a lot of it will improve, especially transparency.
If I can make time, I will hunt up some citations.
I sure hope SHE doesn't get canned...