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Lower Card Interest Rates Coming Roun' de Mountain?


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Posted by Keyser Soze (152.163.189.170) on April 16, 2003 at 22:06:35:

Dear Friends;

A visit to some of the other credit boards proves interesting reading. Many fine upstanding specimens from the CA 'industry' make known their presence, and proceed to blat forth great wisdom. Tragically for them, astute visitors from this and other boards demolish their CA propaganda myths syllable by twisted glottal stop.
Here's a neat-o myth, a real chunk of cow-flop as told by the credit card industry flaks when they whine for tougher bankruptcy laws. These gents with the permanent yellow-stained-pit oxford shirts solemnly intone with straight face that the reason they have to charge such high interest rates is all the fault of the evil, bad, no good, poo poo face debtors who default by the billions. Were it not for these evil wretches, say the good bankers, why they would not be compelled to charge their good customers these usurious rates.
Well now. A simple question, too long in the begging. Assuming that the new BK laws reduce credit card defaults, and assuming that our fine, loving, caring, huggy-wuggy CA 'trained collections professionals' work hard, play by the rules, and 'recover' more lost lucre, why, uhh, hhuh, huh, huh, uhhh...like, uhhh, does that mean that we'll all be paying single digit or even no digit interest rates in the near future?
Don't wish to be impolitic, it's just the logical extension of what these doot-splats keep stating. Apologies to all those who fell from their chairs laughing, should have advised you to strap yourselves in prior to this logical mental gymnastic.

Strappingly,

Keyser Soze





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