Wednesday, September 09, 2009

Debtor's Revolt

People are finally waking up to realize that the big TARP banks that took your money to protect their cushy lifestyles are lying theiving bastards.



I completely advocate doing what the person in the video is doing. While she did sign a contract that said terms are subject to change, she does have a right to come back and try to negotiate better terms. The terms that are being offered are likely to push her to insolvency anyways forcing a chargeoff to the bank. Banks are often the cause of their own demise by charging high rates to customers that they want to push out for some reason or another.

This is an unintended consequence of the idiots in congress putting a taxpayer backstop behind the massive failed banks. I would expect more of this type of "revolution" to occur to combat the blatant theft and lawlessness that is now rewarded, thanks to da gubmint. Move your accounts to community banks and credit unions if you need credit. They care more about your needs and are willing to perform workouts more readily than the big monsters.

1 comment:

Anonymous said...

I LOVE IT. I'LL WILL CLOSE MY WELLS FARGO ACCOUNT AND TRANSFER MY MONEY TO A LOCAL BANK IN SUPPORT OF THE REVOLT!!!!