Hot Stuff: Remaking America Reaction

[Smiley and West]

		Listeners react to the “Remaking America” conversation featuring panelists that included Michael Moore, Suze Orman, Barbara Ehrenreich, and Majora Carter. Smiley: It’s an honor for me to be the co-author of my first book with Dr. West called The Rich and the Rest of Us: A Poverty Manifesto. West:When we put it down on paper, people will be able to see the connection between vision and concrete solution.

[Ed Herbert]

What a great start - such an obvious need for new political parties - we have no time to waste.

[Wanda Renee]

Using the debit card is a great idea in calculating credit scores -  BRILLIANT IDEA.  People don't listen they here what they want to and if they are haters in general then the rhetoric becomes a weapon of non truth.  Watering down tangible solution is the name of the game in the present day.  GREAT JOB on the forum and continue to do what you do.  We, as in ALL PEOPLE,  need both of you to continue to engage the dialogue towards a better tomorrow. THANK YOU, and as always keep the faith. 

[Penguin Board of Directors]

"Using the debit card is a great idea in calculating credit scores -  BRILLIANT IDEA"

Sorry, not by any stretch of the imagination; whether one is a financial guru or financial novice. Banks and their collaborating agents and credit bureaux will do that only if they first perfect mouse traps for their prospective victims. Remember some banks' failed attempts to start charging fees on debit cards? They have not given up fully on that; they are just waiting for the long chance of Republicans making the White House.

Normally, analysts should be interested in the ability and willingness of borrowers to use a line of credit responsibly and pay back as and when due. Customers who use debit cards are not using banks' credit (or lending) facility; they are drawing against their own credit balances with banks. Not all customers have the discipline, ability, or willingness to use banks' credits as they will their own monies. Banks' plastic withdrawal slips (debit cards) are effectively customers' media for recurrent withdrawals from their bank balances in settlement of obligations without necessarily transacting in physical cash.

Before Obama, banks exercised exclusive discretion of doing their customers the favor of overdrawing their accounts in exchange for 'token' fees; never mind that what they called token was a major source of their billions in profits. I have personally seen customers whose accounts are painted in red on monthly basis and as many as four or five debit charges of $35 each as overdraft fees. Absurd on the part of such customers and fraudulent on the part of the usurious banks taking undue advantage of people's lack of financial savvy. 

The ability of banks to create credits is constrained by statutorily fixed and revised reserve ratios, in line with Fed's policy goals and directions. Banks and/or credit card companies supposedly issue their plastic credit cards under rules of conduct that are fair, equitable, and professional. It will take one who lives in a dreamy world of make-believe to even come close to entertaining the temptation that banks operate as responsible corporate citizens. Here are a few of the common facts known to discerning customers: 

Banks love their customers ignorant and far from savvy, but pretend to look for well-informed ones. 

Banks love for their customers to pay late, insofar as they finally pay (adding their 'small' late fees).

Banks love when their customers pay the minimum monthly amounts due on their loans and credit cards; it extends the tenor of larger principals and retains the banks as equity holders in the unincorporated business of workers' paychecks. 

Banks will find any excuse to close credit card accounts that are deemed unprofitable to them because the customers are too careful with their monies not to incur late fees, not to pay only minimum monthly amounts due, and not to exceed their card limits. In fact, banks have been known to close credit card accounts of customers who are this neat and pay up their total outstanding credit card balances regularly every month! Go figure.

If you have to take up credit card obligations with balances you cannot afford to pay off on a moment's notice, you have no business taking up that credit card in the first place. If you must pay for using a debit or prepaid card, you should not be using either of them. Neither debit nor prepaid cards measure a customer's ability and willingness to use credits responsibly and ordinarily are not eligible for evaluating creditworthiness. If self-interested banks have a means of redefining this to suit themselves, they will. Do not buy into the shenanigan, whether from the banks directly or from their agents.

Until Republicans come in to roll back pro-consumer protections against banks as instituted by Obama in some modest areas, customers will first have to sign up to be charged for overdrawing or attempting to overdraw their accounts. That is the reason banks and some credit unions have tried several devious schemes to lure customers (or members) into signing for disguised poisons called 'overdraft protection.' They are 'overdraft detention' camps. Never swallow the bait or you are toast. This singular act by the Obama administration blocked banks from continuing to rake in billions from customer rip-off. 

The only measure any selfless person can take in customer defense is to set up a parallel system to Fair Isaac and Co (FICO) and destroy the FICO scam once and for all; there is no Biblical Isaac involved in the FICO scheme and there is nothing fair about it. If the banks believed in FICO, what were their FICO scores at the time they were getting billions in taxpayer-funded bailouts? Zero. Even today Jan. 20, 2012, many of them dare not disclose their true worth; they will trigger a run on the banking system if they dare.

The viable consumer-friendly and transparent option does not lie in finding a way to integrate debit cards into the current FICO system; the option lies in instituting a competent substitute for the self-serving and fraudulent FICO system and all the financial vampires and their minions benefiting from it.  

[lisa swytzer]

FOR ME AND IT IS NOT SELFISH BECAUSE I LIVE WITH IT EVERYDAY ITS NOT JUST TALK...THAT I NEED TO SEE BLACK ISSUES INCLUDED IN THE REMAKE OTHERSWISE WHEN AMERICAN GETS BACK ON ITS FEET BLACK PEOPLE WILL JUST GO BACK TO THE SAME OLD PROBLEMS...SUCH AS PAY SAME PRICES AS EVERONE ELSE PRICE CONTROL..ETC...BECAUSE WHAT I SEE IS UNHAPPY PEOPLE..NOT EVIL PEOPLE ...ITS LIKE THE STONE AGE...UPGRADE!

 

[Evan Ravitz]

Barbara Ehrenreich and Occupy are right: we have to move beyond leaders. The Occupiers know how: "direct" democracy. The Swiss vote 4-7 times a year on national, cantonal and local issues, directly, in addition to having a Parliament, etc. This "check and balance" on leaders keeps them humble and representing. We need this here! The best plan is famed former Senator Mike Gravel's National Initiative: Vote.org

Gravel is 80, but recently he was at his best:

Smiley and West should get him on the show, and see if they can get his project moving. I've been working on direct democracy for 23 years, 12 for Gravel's proect. Vote.org is my site, the first DD site, starting in 1995. I'd be happy to come on too. You can hear my radio appearances via our News tab. -Evan Ravitz

"The age of the leaders has come and gone. Every person must be their own leader now. You must remove your projection, and contain the spirit of our time in your own life and your own nature because to go the old way and follow your leader is a form of psychological imprisonment...There is a very profound reason why there are no great leaders any more. It is because they are no longer needed."
  -Sir Laurens van der Post, statesman, military leader, author and close friend of Carl Jung

"On most major issues we've dealt with in the past 50 years, the public was more likely to be right...based on the judgment of history...than the legislatures or Congress." -George Gallup, Sr.

[Wanda Renee]

The debit card can become the corporate card for each individual - because it omits the banks from charging fees on over drawn accounts and sustains one's own right to control their financial bottom line.  I love what you are saying, but the idea is to look back when people used lay-a-ways to create credit, and at one time cash used to be a great tool to establish credit.  It does not make any sense; putting people in a box making them have a bank account is crazy.  It is the reason people have been prayed upon.  I remember using cash for big ticket items and I had a credit report from it.  When the large banks were allowed to use money as weapons of mass destruction it caused more problems for people who do not read the small print.  This is a system which needs to be changed and if the economy continues to undulate we will find Community bank's and Credit Unions and even Russel Simmons Debit card will suffice to create personal financial stability.  Also, the lay-a-way system is back - at least during Christmas; although, I was informed it would not be included on your credit score, whether you paid it out on time or not - AN UNFORTUNATE CASUALTY.  I can see you are some kind of finance person, for you speak of the predatory complexites of banking.  It is a box sheltering the chance for financial freedom and control - a finance system (big banks) which has hijacked our chance for personal financial upward movement.  Everyone thinks they have to be in their system to create a solid credit report. Ms Orman point is use the transactions from the debit card to establish the credit history, because one thing a debit card, in some financial systems, does not do is allow you to over draw.  If you have it you can spend it, if you do not you can not.  Yes, each person needs to understand how to manage their finances better and the FICO system needs to change the way it calculates a person's credit history (including debit history) can help people - THE TIME IS NOT WHEN BUT NOW. Your point is this is not going to happen my point is it needs to. Being an old schooler I remember back in the day when a bank account was not necessary to establish credit history. We do not need to continue to be the peons of this DESTRUCTIVE SYSTEM.  Love, Peace, and Joy - WHOM EVER YOU ARE.  
 
Penguin Board of Directors said:

"Using the debit card is a great idea in calculating credit scores -  BRILLIANT IDEA"

Sorry, not by any stretch of the imagination; whether one is a financial guru or financial novice. Banks and their collaborating agents and credit bureaux will do that only if they first perfect mouse traps for their prospective victims. Remember some banks' failed attempts to start charging fees on debit cards? They have not given up fully on that; they are just waiting for the long chance of Republicans making the White House.

Normally, analysts should be interested in the ability and willingness of borrowers to use a line of credit responsibly and pay back as and when due. Customers who use debit cards are not using banks' credit (or lending) facility; they are drawing against their own credit balances with banks. Not all customers have the discipline, ability, or willingness to use banks' credits as they will their own monies. Banks' plastic withdrawal slips (debit cards) are effectively customers' media for recurrent withdrawals from their bank balances in settlement of obligations without necessarily transacting in physical cash.

Before Obama, banks exercised exclusive discretion of doing their customers the favor of overdrawing their accounts in exchange for 'token' fees; never mind that what they called token was a major source of their billions in profits. I have personally seen customers whose accounts are painted in red on monthly basis and as many as four or five debit charges of $35 each as overdraft fees. Absurd on the part of such customers and fraudulent on the part of the usurious banks taking undue advantage of people's lack of financial savvy. 

The ability of banks to create credits is constrained by statutorily fixed and revised reserve ratios, in line with Fed's policy goals and directions. Banks and/or credit card companies supposedly issue their plastic credit cards under rules of conduct that are fair, equitable, and professional. It will take one who lives in a dreamy world of make-believe to even come close to entertaining the temptation that banks operate as responsible corporate citizens. Here are a few of the common facts known to discerning customers: 

Banks love their customers ignorant and far from savvy, but pretend to look for well-informed ones. 

Banks love for their customers to pay late, insofar as they finally pay (adding their 'small' late fees).

Banks love when their customers pay the minimum monthly amounts due on their loans and credit cards; it extends the tenor of larger principals and retains the banks as equity holders in the unincorporated business of workers' paychecks. 

Banks will find any excuse to close credit card accounts that are deemed unprofitable to them because the customers are too careful with their monies not to incur late fees, not to pay only minimum monthly amounts due, and not to exceed their card limits. In fact, banks have been known to close credit card accounts of customers who are this neat and pay up their total outstanding credit card balances regularly every month! Go figure.

If you have to take up credit card obligations with balances you cannot afford to pay off on a moment's notice, you have no business taking up that credit card in the first place. If you must pay for using a debit or prepaid card, you should not be using either of them. Neither debit nor prepaid cards measure a customer's ability and willingness to use credits responsibly and ordinarily are not eligible for evaluating creditworthiness. If self-interested banks have a means of redefining this to suit themselves, they will. Do not buy into the shenanigan, whether from the banks directly or from their agents.

Until Republicans come in to roll back pro-consumer protections against banks as instituted by Obama in some modest areas, customers will first have to sign up to be charged for overdrawing or attempting to overdraw their accounts. That is the reason banks and some credit unions have tried several devious schemes to lure customers (or members) into signing for disguised poisons called 'overdraft protection.' They are 'overdraft detention' camps. Never swallow the bait or you are toast. This singular act by the Obama administration blocked banks from continuing to rake in billions from customer rip-off. 

The only measure any selfless person can take in customer defense is to set up a parallel system to Fair Isaac and Co (FICO) and destroy the FICO scam once and for all; there is no Biblical Isaac involved in the FICO scheme and there is nothing fair about it. If the banks believed in FICO, what were their FICO scores at the time they were getting billions in taxpayer-funded bailouts? Zero. Even today Jan. 20, 2012, many of them dare not disclose their true worth; they will trigger a run on the banking system if they dare.

The viable consumer-friendly and transparent option does not lie in finding a way to integrate debit cards into the current FICO system; the option lies in instituting a competent substitute for the self-serving and fraudulent FICO system and all the financial vampires and their minions benefiting from it.  

[Thomas Lee Patteson Jr.]

The inclusion of Suzie Orman on the panel made it a very intriguing and viable coalition.

[ALICIA BANKS]

hobama is a racist bankster hoax

and so are his elitist DC peers

kudos!

http://aliciabanks.xanga.com/735008167/to-fannie-lou-hamer-and-all-...

http://aliciabanks.xanga.com/755316183/cbc--cursing-blacks-comicall...

[Thomas Lee Patteson Jr.]

2L4O, Alicia. 

[Denise Harris]

OMG a "Poverty Manifesto" is the ultimate statement! If we start with Suze's suggestions regarding the credit score documentation, and the living wage mandate, then we would be getting somewhere. The President should pass a bill on that!

[Ricardo Jones]

OBAMA'S EEOC (1) AND THE DESTRUCTION OF THE BLACK AMERICAN ...

MR. RICARDO JONES, SR. is a veteran and the former Senior Federal Investigator for the new York District of the EEOC from 2001 to 2010. He describes how ...

www.youtube.com/watch?v=qqyrvRaY4Ks - Cached

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