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Date : December 2009

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Extortion and Trickery Practices of American Banks Exposed

Categories: Politics
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Published on: December 1, 2009
Note: I only write about social and political issues at my personal blog, if I think that I must. This article qualifies as such. It also seems to be an issue that only applies to Americans and not other western or developed countries as far as I know. Correct me on that one, if I should be wrong about this assumption. I recently watched the 56 minutes long episode “The Card Game” of the PBS documentary series “FRONTLINE”, which premiered on American television on 11/24/2009, investigates the massive US consumer loan and credit card industry and its abusive behaviors in the past and present in an unregulated marketplace where anything goes. The video recording of this documentary can be watched online at the PBS.ORG web site. I was aware of many of the aspects of the American loan industry and surprised that such predatorily behavior that was demonstrated by all US Banks and other private enterprises was perfectly legal in this country. I was initially shocked when I learned about those realities and still disgusted by it and by anybody who argues that this is okay and perfectly normal in a free and market driven economy, especially if those individuals claim that the those cases which might be considered excessive are only exceptions and not created intentionally for profiteering by those companies and banks that cause them. Some of the facts from the documentary were even new to me and disgusted me only more and at the same time aware[…]
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