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You Are Evil Thieving Bastards

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Wed, 2009-09-09 23:29 — The Conductor
Topic: 
Economics
Places: 
U.S.A.
Organizations: 
Government

A Bank of America customer fires the first shot in a debtors’ revolt:

If you’ve made your payments on time and have been rewarded with interest rate hikes and higher monthly minimums, you can fight back. Quit paying. Who cares if you’re credit score drops—they’re not lending to people like you anyway! The banksters can harass you, but as rising defaults clog the courts, they’ll have to wait ever longer to even try to win a judgment against you.

TARP shows how the banksters can manipulate laws—and lawmakers—to their advantage. Bankruptcy and debtor protection laws are the equivalent for ordinary folks. Work the system; starve the beast.