Congressman Jeb Hensarling
Jeb Hensarling - (Asshat-TX)
(R-TX) actually had the balls to go on Lou Dobbs May 5, 2008 and declare that it is perfectly OK for credit card companies to promise one interest rate and then all of the sudden decide to jack that rate sky high on consumers without notice.
This is the absolute example of what is wrong with our elected officials in this country. They are bought and paid for by companies who will have them oppose legislation that is in the American consumer's best interests.
There is simply no way in hell that a thinking person could say it is fine for a poor person to get a credit card that will then financially burden them for decades when the interest rate is then turned into lone sharking percentages once there is a balance. It is an injustice that must stop!
However Jeb Hensarling is perfectly fine defending it with a smile on his face.
This makes you long for the days of the Mafia, when interest rates of 30% now look good compared to the 39%+ some credit cards now stick consumers with. At least the Mafia disclosed their terms.
Here's a message for Jeb Hensarling. Maybe these people shouldn't be getting - or being given - credit because they can't afford it! They should not be taken advantage of by companies.
If you're a voter in his district I ask you to spread the word on this crook who is not looking out for your best interests (only the credit card companies "interest").
So how does the Representative defend the current practice by credit card companies to send out notices that they are raising the card rate on customers with perfect credit histories.
I'd just like to note that almost all credit card companies do not even notify you of rate hikes they just do it and later on you find out.
I had a friend recently who checked their interest rate that they thought was 9% and found out that they had magically changed it to 28% without notification. This friend has perfect credit, is never late and holds a good paying job.
Posted by: Digger on April 23, 2009 11:52 PM