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Credit Cards: Do the Banks Own the Senate?

The Banks got tired of paying for the Senate so they opened up their own branch of government, the Fed. Yes we have the Executive, the Legislative, the Judiciary and the Fed. Like the Judiciary the President gets to appoint people to the Fed, but not remove them.

Since the Fed is not mentioned in the Constitution its powers are not limited by the vision of the founders. The men who sat in Independence Hall in July 1776 would be horrified by this development.

Now to make it perfectly clear which is the most important branch, just look at the printing on your money, right at the top on the front. It says "Federal Reserve Note".

As somebody noted the power to tax is the power to destroy. Now hold that thought a bit.. Inflation is a form of taxation for sure. A flat tax that affects everyone. Now who has the power of this taxation? Why the Fed of course.

Unelected, and yet with the power to tax at the highest level we have the Fed. Surely this is taxation without representation taken to a new level.

The Banks have no need to own Congress. They already own something much better.

When Banks Try to Defend Credit Cards

Banksters ripping people off and gaming regulators to increase profits until people get fed up and force new regulations on the banking industry.

And then they whine about it, threaten to stop lending money, and when they really screw up get the taxpayers to bail them out.

Seems to be a pattern here.

Credit Card Crunch: Creating a New Generation of Subprime

What the author is missing is the behavior of the consumer in the current recession. The fact is that credit defaults are actually decreasing, credit card debt is being paid off at record rates and savings rates are shooting up. This makes the decreases in lines of credit a moot point because most people aren't using them.