Is There a Connection Between Usury and Entrapment and Extortion and Is That Legal?
Posted: Monday, December 08, 2008
by straight talk
Lets a take a hard look at the credit crisis from a fact standpoint and decide if ethics, morality, or even crime exists. I have my own opinion. All I ask of you is to draw your own conclusion.
Now let us understand these Credit Card companies are taking actions to secure what they perceive as a risk, that is you who by nature of some report, information or other factor has placed you on their "risk" list. That is close to irresponsible as one can get.
1- We start with an offer of credit from a Card provider. Offer made of a $5,000 credit line. Offer extended, offer accepted. You are in no way obligated to accept but you do. Now in many cases most don't read the fine print. Yes much like the auto advertisements, always fine print. Yes and these people have very good lawyers. Would you understand it if you read it? No most likely not and who really does? Now for those who say you should always read the fine print, common now, who would say that and really mean it? Business is conducted every single day by millions and the "fine print' is not read. Rhetorically let me ask you why even need fine print if you were an up front person or entity? No, in my opinion the fine print is there for a purpose. Why, nothing would ever get purchased or done.
2- So you receive,and activate and use the card. No one forced you to but try getting a plane ticket or other things with cash. It is a necessity forced on us by business. All is fine as long as you continue to pay on time and lets say you are slightly above way line. You owe them $3,000 with $2,000 available.
3- You now get a notice that your rate is being increased significantly along with your minimum payment requirement. Lets assume your ok with that and you make payments but on another account with another totally different card holder that you have payment is late.
Now it is at this point that I offer you to consider the title of the article. You may have a good relationship with that bank and you have made all your payments on time. You may even have other accounts with them. Yet they have permission, which you agreed to when you accepted the card, to be able to control the interest charged, the payment amounts and your available credit and any and all accounts you have with them. Didn't think of that one did you?
4- So you call to see how much is left on your card and you find you made your payment, thank you and they say, get this, you have $2,000 "available'. Does that truly mean "available, no it doesn't.
2- Ok, so lets continue down the highway. Lets say since it is Christmas you go out to buy a TV priced at $250.00. Using your card with the $2,000 available the card is denied. You call the credit card company and they say you have $2,000 available but it is frozen and can't be accessed or used until your credit issue is resolved with the Credit Reporting Agency [good luck] and the other bank. yes remember those credit reporting agencies?
3- So you have $2,000 available and you can continue paying, thank you but you really do not have $2,000 available. Oh, you mean they lied? Well sort of, kind of. You see "our" Congress made usury legal. Yes these same leaders you just elected on professions. Hey, did you read the fine print? As for the other issues they are all legal as well. Yes the Easter Bunnies say one thing but sadly give you another. Hey even the Liberal Democrats are calling Obama's new cabinet Centrist. Can you believe that? Well if you can you can believe anything. I guess you just can't believe what these professors say?
So yes these professors of God and decency made it all legal. What I ask you rhetorically from a moral, ethical and ok religious perspective, assuming many of you profess, do you think this is done deliberately to ensnare people? No, well follow the process once again and think about it. All I'm asking is rhetorically could this be a possibility, a plan, an agenda? Why, people say. Well that is for another time and article although in my opinion it is as plain as day in the signs all about us.
I think it is a fair rhetorical question to be asked that some smart lawyer could argue in court. In fact I wonder why the ACLU, those Liberal defenders of our rights are not right on top of this one? Perhaps a class action lawsuit to regain the billions in lost money to every card subscriber on the grounds that the contract was a deliberate attempt to ensnare people. The argument that someone may ask of why does not hold water because you must see it in total. Then it does actually beome in my opinion a real possibilty. Let me just ask why legalized usury if no basis?
Oh don't believe it. Well perhaps it may be coming to your mailbox soon? Look for it even if you do pay on time.
Robert T. Melaccio Sr. 2008 Copyright 2008 Robert Melaccio Sr.
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