Every girl needs a knight in shining armor and I have indeed found mine. He is Connecticut Senator Christopher Dodd and the champion of credit card legislation. Now this credit card legislation has been introduced for a while and passed on March 31st, but even today there has been an outbreak of raised interest rate and closing of accounts from Bank of America. Be sure, these creditors will do everything they can to get more money from consumers before the legislation takes effect. And surprisingly the corporations who are the most guilty are those who received bail out money (Capital One, American Express and Bank of America to name a few.
Since my book, Ooh Baby Compound Me was published and I have been following credit card and consumer advocate articles I have found myself alone in this quest for credit card consumer rights. For a long while I was on a lonely road, combating those who suggested controlling “free following” capitalism and protecting consumer rights is socialism. I have found myself marked by condescension for not understanding the definition of consumer or those who shunned me for at times in my life for making poor credit decisions. How dare I question the great gods of the credit corporations in all their power and glory? You egregious little ingrate. I felt for many months, a fool.
But now, after wandering this dark, winding road of creditor exploitation, a knight has appeared and behind him an army; the United States Congress and even the President himself. Take that all you naysayers of credit card legislation! Take that to all you who bow to the graces of greedy CEO and corporations! The consumers now have a voice and a champion.
Now despite, Christopher Dodd making my book which satirically blasts the exploitation of credit card companies irrelevant I still find it a good thing. Someone has heard my cries! Someone’s actually doing something, Reg! (A salute to Monty Python’s Life of Brian) Imagine our government actually doing something with a positive effect on average Americans. Click here to see more on Dodd’s legislation.
Still, I grow a little tired reading many articles about credit cards. Just today, there are over twenty around the country, all saying the exact same thing and all of these articles, interviews and books are all giving the exact same advice. Boring! Can we have some original thoughts, please? How many times do we need to hear it? Many are all geared to the responsibility of the consumer; how we need to mind our debt, how we negotiate talking to creditors, how to teach our children, how we should call them sir and wipe their**-all this for corporations who are exploiting the consumer.
Now I understand, many people have made money from credit cards and many people work for credit card companies, or have a business solving other people’s credit problems. This becomes detrimental to anyone who has made a living in some way or another in the credit industry. With this legislation passing and credit card companies will not be able to gauge consumers, what will happen to all the people making a living solving people’s debt? What will happen to debt collectors, debt consolidators, counselors, etc, etc. It will be liberation for all without having to pay a dime. We can pay down our debt, without having to pay out a cent to another. Imagine that.
It all goes to my thought, why continue to find ways to get by in a corrupt system? Why give advice on how to handle corruption instead of fighting against it? It is kind of like telling slaves how to handle their slave masters in order not to be mistreated. In a sense, this is what we are doing. In a free country like the United States, we should not have to be imprisoned to corporations. We, American citizens should have rights as consumers. We should continue to support and encourage our government who stand up for our rights and our financial freedom.