Tricked by credit cards? Fooled by student loans? Cheated on mortgages?


Seriously?

The only trick is that people want what they can't afford. Good consumers, bad savers.

Is this the DNC convention or the Vagina Monologues?

But seriously folks, this lady complains all about this country and who has been running it the past 4 years?

>> ^lantern53:

Is this the DNC convention or the Vagina Monologues?

Sorry, but that's just fucking sad.>> ^lantern53:

But seriously folks, this lady complains all about this country and who has been running it the past 4 years?

Oh, now I see. You didn't watch it at all. "Elizabeth Warren" must be some deeply-embedded trigger term for you GOP-bots to release the stoopid. And lookie what you just did. Mission complete. Aren't you supposed to die now or something, like a salmon?

Sorry, just couldn't watch all of Faux-cahontas.

>> ^kevingrr:

Tricked by credit cards? Fooled by student loans? Cheated on mortgages?
Seriously?
The only trick is that people want what they can't afford. Good consumers, bad savers.


So very, very wrong.

My mother was tricked by a credit card company. She thought she had an 18% interest rate--until I looked into it and found she actually had 30% interest because they tricked her by changing it.

She was not tricked. She did not pay attention.

>> ^Boise_Lib:

>> ^kevingrr:
Tricked by credit cards? Fooled by student loans? Cheated on mortgages?
Seriously?
The only trick is that people want what they can't afford. Good consumers, bad savers.

So very, very wrong.
My mother was tricked by a credit card company. She thought she had an 18% interest rate--until I looked into it and found she actually had 30% interest because they tricked her by changing it.

I watched her live and though this was a good RNC speech.

She is a closet Republican and does not even know it. Same for the audience who clapped and cheered.
The shade of ignorance are pulled over the eyes of most Democrats.

>> ^lantern53:

But seriously folks, this lady complains all about this country and who has been running it the past 4 years?

@Boise_Lib

What exactly do you think credit cards provide? Free IOUs?

Credit cards offer unsecured short term loans. When a customer pays them back on time the customer pays how much? Nothing.


However when someone goes bankrupt who often does not get paid? The credit card companies. This means some people run up tens of thousands of dollars in debt and then pay either a small percentage or none of it back.

I don't feel bad for the credit card companies but I also don't blame them for our consumer society.

A lot of what Warren says here should resonate with everyone. We are all people and we do live, die, dance, and cry. That said maybe we need to put more focus on the people and relationships we have with them instead of having the newest car, the nicest house, the most expensive clothes etc. Then we can pay our more modest credit card bills on time.

Still my favorite part is the whole deal about loans. Anyone who researches the issue knows that it was systemic - politicians from both the democratic and republican party, wall street & main street. Irrational exuberance for the American Dream of everyone owning a home.

@kevingrr There are many cases where people who can't read were explicitly lied to about the content of the contract they were signing. That doesn't even address the needlessly complicated (dare I say obfuscated) nature of these contracts. They invented "the fine print." There is a legitimate argument to be made that the credit issuers were intentionally deceiving vulnerable populations who needed access to credit in order to feed their children, or provide them with shelter. It wasn't all frivolous spending.