So Predatory Banks Now Have Full Rein -

[Stephanie]

And we have NO recourse. Is that it?

[Anakin Skywalker]

1. Welcome to the New United Corporate States of America!

Blech! :puke:

[Jacobin]

2. Oh, and PayDay Lenders

who charge APRs of 200%

[Enquiringkitty]

3. Yup! That's about it. Plus if you die before you pay off....they can try

to get it out of your estate which would have gone to your kids and if they doesn't cover it....they can go after your kids because they would have gotten the value of your estate so they will get the value of your debts. Nice huh?

[Stephanie]

5. No! Are you serious?

I am responsible for the debts of my parents? That can't be true! That is in this bill?

[mcscajun]

14. I wouldn't believe that without written evidence.

Sounds like hyperbole to me.

Even before the bill, if there was an estate of any value, creditors had legitimate claims against such estate. If there was no estate, your children could not be made to pay your debts. I seriously doubt that this has changed.

[Jacobin]

16. Not true

Can't collect from kids

[Stephanie]

17. okay thanks

I think we would have heard about that

[depakid]

18. That's always been the law

creditors are entitled to go after a person's estate for money that they are owed. This bill merely strengthens their hand with respect to discharging unsecured debt-

Not sure how the homeowner's exemption works on the death of the surviving spouse. That would be a state by state rule.

[gizmo1979]

4. in banks we trust.

[aquart]

6. 100 percent of nothing is still nothing.

A destroyed economy doesn't even profit the undertaker.

[Stephanie]

7. you're right

WHO do they think they are going to sell their crap to after they eliminate the Consumer Class?

[Hugin]

8. Good point...

But, these guys think in quarters...

They can't see any farther than that.

[Aussie_expat]

9. I work for one

I work for a lending organisation. These past few weeks they set up a 1-800 number that directed calls to the Senators from each state. Then they sent out email after email encouraging the employees to call the number and be patched through to your respective Senators and read a scripted message in support of the legislation.

It has made me sick to my stomach.

If I had another job I would have quit in protest.

The consumer has no hope. Americans are on the verge of losing their last protection.

Have no doubt........ This will have some effect every person who has a loan in America.

[Stephanie]

10. if anyone had any evidence of something like that

they should send it to Will Pitt of www.truthout.org or Greg Palast of www.gregpalast.com -

That sounds like an illegal campaign contribution, or something.

[Aussie_expat]

11. Evidence you say.....

My company has 20,000 US employees and it was no secret.

[Stephanie]

13. well if there were emails or any kind of directives

that would serve as evidence that this company used company resources to influence legislation, it would be interesting to journalists, I am sure.

[mcscajun]

15. Nothing much new there, just PAC activities, lobbying or,

"Grassroots activism" -- corporate-sponsored.

Would that it were newsworthy -- it's just "business as usual".

[Old and In the Way]

12. The "Contract on America" continues.

Remember, folks, which Party controls the Presidency and Congressional majority. The same Party that brought you a Trillion $ heist of the Treasury assets, trillions more debt, 9/11, War Lies, and the coming "fixin" of Social Security.

But hey, remember that other President we had that lied about consensual sex? Now that was evil....

[beyurslf]

19. Dont use those predatory lenders.