I received an email this morning from a good friend who just happens to be another Baby Boomer without a job! She too is trying to keep her head above water while she searches for employment, as well as making every effort to keep her financial house in order.
She wrote:
"I think it is being addressed in Washington tomorrow, but I am livid about the interest rate increases I have had to take on credit cards...no lates, fico over 700...but increases in some cases of 20%. Then the opt out options will screw you by either canceling the account (thus affecting your score by % of credit utilized) or cutting your credit limit right to the amount you owe at the point of opting out even though you haven't canceled your account. ( again affecting your FICO score). I find this to be a modern version of loan sharking. If the economy is supposed to be better with responsible credit, then why are the people who are responsible for their payments taking it in the shorts. You being debt free don't have to deal with this any more but alot of us who are trying to be good citizens are tired of this. I don't know who to write."
She's right about this being addressed tomorrow, as Obama meets with the heads of major banks. You can read the whole story here (from-- clears throat-- the Canadian Press).
This is another one of those kicking a dog when it's down scenarios.
I find it rather incredible that some do not understand the anger that is rising among the populous and going so far as calling tea parties and such, "class warfare" or "hatred of the rich". From my perspective, the objection is not against making money or becoming/being rich, it is breaking the backs of the middle class to solve problems for the rich when they are in trouble. Who always pays?
Further this is not a Republican or Democrat issue, both parties carry responsibility for where we have arrived today from elected officials to corporations to consumers who lived above their means. However, the party is over and those who did not drink from the greed keg are being forced to suffer the hangover. If you honestly believe that taxing those who make over $250K per year is going to pay for this mess, I say beware. There are lots of other ways to suck your livelihood up in the vacuum!
So to those folks who want to bitch about a "teabag", just be thankful it wasn't a pitchfork. Write, call, email, blog, twitter, protest, and stay focused on those who are making decisions for you! They answer to us, we don't answer to them -- that's democracy!
You can find and contact your congresspeople and Senators by going here. Type your zip code in the window available to get your representatives' contact information. This website will also keep you up-to-date on the shenanigans, oops, I meant the actions of Congress.
If you want to write to President Obama, this is the contact page I use.
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