Thursday, April 30, 2009

More Proof that Wall Street is Out of Touch with the Real Economy and Real Americans as Credit Card Companies Continue to Suck the Economy Dry.

(Edit note, a couple of weeks after the writing of this article comes a powerful article from Asia Times that basically concurs with a few of the major points made below. ASIA Times on the Global Economy.)


Since I started my Daily-Protest against Chase Bank and the credit card industry, my television viewing time has dropped. Very very early this morning, while I was revamping, I had the overnight news on.

The CBS overnight news kept replaying a story that the worst was behind us, that inventories had depleted, and that sometime this year the economy would pick-up. The only way the economy will pick up this year is if the CREDIT CARD INDUSTRY does EXACTLY THE OPPOSITE of what they are presently doing!

Lets add up middle america economic indicators, the real indicators, the ones that matter. Joblessness, continues to rise. Home prices continue to drop. Rising home sales are from forclosures. Car Dealerships, going out of business too fast to count. Credit Card debt, rising.

Funding two wars halfway around the world, priceless.

If the world's net worth has dropped by 1/2 over the past year or two, but the world's unsecured debt has remained the same, then that means that the worlds unsecured debt has actually doubled when comparing the numbers! 

Factor in that the Credit card companies have actually raised interest rates, stolen frequent flyer miles from their best customers, are labeling anybody a with low interest rate on their unsecured debt as a toxic asset, and are assessing huge, 100% to 400% increases in the interest rates whenever a customer is late on a payment, and we can actually safely state that the credit card industry's percent of the world wide wealth has increased by at least another 100% on top of that doubling!

But wait, it is even worse than that. After a person is late on just one credit card payment, the other credit card companies can also raise that person's credit card interest rate to around 30%. Eventually people give up trying to pay down a debt at 30 percent interest rate. However, before the debt is given up on by the credit card company, it keeps growing by obscene amounts every month. 30% unpaid interest can increase one's debt by 50% or more every year!

The overly inflated credit debt keeps racking up higher and higher debt. Then it goes into default. The entire debt, that has been first outrageously inflated by 50 to 100%, is then sold to a bill collection agency for a portion of the total debt due. When the banks sell the defaulted debt, it might be 60 cents on the dollar, 40 cents on the dollar or even just 25 cents on the dollar. However, because of how the debt was so rapidly inflated at that 30% interest rate, the bank actually doesn't lose any money, even if they sell the debt at 25 to 30 cents on the dollar!

Here is where it gets really ugly. The bank is able to then write off the ENTIRE overly inflated debt that caused the debtor to eventually give up trying to pay it off. Imagine if you could being keep all of the money you earned in a years time while legally claiming that you lost an additional 50% and are owed a rebate, or bailout money from the government!

But wait, it's even worse than that! Not only do the banks get this huge credit card default write off on their 30% interest credit card debt, they then can receive new bailout monies from the government to help mitigate phantom credit card loan losses that don't actually exist!

But wait, it's even worse than that. The banks hold on to the new bailout money, refusing to circulate the very money the government has allocated them. By not releasing this new bailout money and not using it to lower credit card interest rates to the consumer, tens of millions of americans continue to create more and more debt on their credit cards, and the entire credit card debt cycle mentioned above repeats again!

But wait it's even worse than that. The banks then squeeze those who relying their credit card debt and home equity line debt to get through these bad economic times by REDUCING their credit lines, sometimes to BELOW what they owe! Now factor in those who have missed a payment for a medical emergency, job layoff, even an electronic billing mistake that can easily happen when a credit card company CHANGES THE DATE on a bill without informing the customer! All of these are reasons for the credit card company to raise the interest rate to 30%! 

Yet many of these law abiding citizens fight to salvage their credit score, resulting in additional huge profits for the banks from those who believe a debt is a debt that must be repaid, even at 30% interest. Unfortunately, a 30% interest rate is so high that unless one can make at least 3 times the monthly minimum due, or pay the debt off in full right away, the debt may never go down fast enough.

If one gives up trying to pay a 30% interest rate card, the banks make huge profits from several different sources. If a customer continues to pay 30% interest, the banks are happy because the customer is just stalling the inevitable, in essence creating additional wealth for the banks before the customer eventually defaults. The banks win no matter what the indentured credit card borrower does once the interest rate is raised to 30%.

The banks are winning every which way even as the FDIC "clamps down" on the banks for not having enough cash reserves.

So, going back to our percentage analysis of unsecured debt and how much it has increased when compared to the world's actual wealth, we can safely add another layer of gross profiting by the credit card industry at the worlds misery. Credit Card debt may have actually increased by over 400% when it is compared to the amount of perceived wealth that still remains in the world's economy.

Credit Card debt at 30% interest IS the additional hidden tax being perpetuated on the world's economy.

But wait, it may be even worse than everything stated above. What if the bankers, upon classifying a credit card loan at 30% that the consumer has given up trying to pay back, a "toxic asset", sells that "bad" credit card loan to another company that is run by a friend, a relative, a lover, a drug cartel? If the banker is in anyway connected with the new buyer of the debt they have resold, that means the banker has found an additional way to profit from the same piece of debt, also known as insider trading or collusion.

So, going back to our percentage analysis of unsecured debt, we can safely add another layer of gross profiting at the worlds misery. 

Over the past two years, Credit Card debt may have actually increased over 500% when compared to the amount of perceived wealth that remains in the world's economy. I don't have to know what the actual two numbers are to make an estimate at the percentage amount. A 500% percent increase in credit card debt as compared to the world's perceived economic value cannot be a good thing, can it?

And if I am correct, then there is NO WAY THE eCONomy can recover, unless some of these usurious interest rates are made to disappear.

So what do the credit card companies do in this time of worldwide crisis? They raise the interest rates on all of their credit cards while trying to destroy the credit rating of their best customers by raising the monthly minimum payment on these always on time paying customers by 250%.

Won't you join me in fighting back? Just put a sign somewhere where others will see it. It is really that simple. Learn more at CHASE BANK PROTEST DAY-9, HOW YOU CAN HELP. IT IS FREE AND YOU DON'T EVEN HAVE TO PROTEST.

Saturday, April 25, 2009

Joe the Plumber & Ron the Roofer, meet Peggy from Pennsylvania. Learn how Chase Bank hurts the Elderly, Cancer Survivors, and Responsible Bill Payers.

First it was Joe the Plumber, then Ron the Roofer, now it is time to meet Peggy from Pennsylvania. Peggy doesn't miss her payments and pays on time, thus making her and her cancer stricken family a toxic asset in the jaundiced eyes of the new age banking community.

If you aren't being charged an obscene credit card interest rate, you too can be labeled a toxic asset. To learn more about Peggy and how Chase seems to live for the thrill of destroying the american dream of those who weave that dream into jobs and services for middle america, Please Click here and learn more at

It is as if it has become the job of the Credit Card Companies to make as many stand up americans "bitter" as is inhumanely possible.

Unacceptable, irresponsible lines have been crossed by the credit card banking industry and unless people like me, (Alessandro Machi) outsiders who haven't taken this lying down, are truly empowered, we all will continue to be at the mercy of draconian changes at the drop of a board meeting, any time, any place.

Yes, I want to be the equivalent of an Italian Jesse Jackson. A gadfly paid by the Credit Card industry to help stop the credit card companies from doing the wrong thing, something they just seem naturally capable of doing, over and over and over.

Until passionate outsiders who never enter the boardrooms of these companies can actually have sway over credit card industry proposals via their own independent websites, we will continue to be at the mercy of sociopath mentalities that can't help themselves as they hurt middle america.

Please read Peggy from Pennsylvania's story and then realize that this is going on all over america. Everything the banks have done when it comes to the credit card industry have BEEN THE EXACT OPPOSITE OF WHAT they should be doing. I'll be exposing those Credit Card Company wrongs one by one in a future article.

Thursday, April 23, 2009

Wednesday, April 22, 2009

Why does Barack Obama have to "Lean on" Credit Card Companies at all, and when will he enlist an outside the White House "team of rivals"?

Barack Obama is supposedly set to lean on Credit Card Companies for their recent hostile and aggressive tactics against the consumer. Here is what I don't get. Barack Obama campaigned last year that he would bring in line the Credit Card companies. Barack Obama seems to have a good relationship with these credit card companies.

Why would the credit card companies disrespect Barack Obama and force his hand? Is it so Barack Obama can swoop in at his April 23, 2009 White House meeting and look like he is saving us? Barack Obama should be less concerned about looking good and instead "punish" the credit card companies for making him, aka Barack Obama, look bad to his constituents.

Barack Obama should hire a team of outside the white house rivals to really shake things up. Yes, Ralph Nader should be part of that team, along with others who are known for fighting for the consumer. If not now at the White House meeting scheduled for April 23, 2009 with the credit card industry, then when?

Monday, April 20, 2009


Change in is reporting that the white house has planned a credit card company get together at the white house this April 23, 2009.

Apparently all the big players will be represented, Chase, Citibank, Capital One, Bank of America, American Express and so on.

Will Ralph Nader be at the APRIL 23, 2009 White House meeting with the credit card industry?

Or, will this meeting on April 23, 2009 be to spin recent Banking Industry quarterly reports into some kind of fantasy that all is well?

If the White House meeting on April 23, 2009 with credit card industry personnel does not include consumer advocates, also known as an outsider "team of rivals", then what is the point of the meeting?

This may actually be Barack Obama's first real test in office. Is Barack Obama willing to partner with actual consumer gadflies when he has his Credit Card Meeting at the White House on April 23, 2009 with the suits that represent the credit card industry?

If you want to read about a solid idea that would help the consumer, the economy and the credit card companies, check out (page-3 Solutions)

Sunday, April 19, 2009

I'm STILL WAITING, Rush Limbaugh, Newt Gingrich, Bill O'Reilly, Fox Television, STILL WAITING for ONE of YOU to CONDEMN the BANKING INDUSTRY.

In a strange twist of fate, I am kind of relieved that I can count on Rush Limbaugh, Newt Gingrich, Bill O'Reilly, and Fox News, heretofore named the "Republican Guard", to continue to say nothing, and do nothing when it comes to the oppressive stance banks are taking against their BEST and most reliable CUSTOMERS.

The easiest path to success for the Republican Guard would be to take on the credit card banking industry and fight for the consumer. However, if the Republican Guard only did this because it was the popular thing to do, it would mean we would be electing ultra frauds to congress in 2010.

Instead, these Republican Guard opportunists just gleefully rub their hands together and think teabag protests are going to sweep them back into power. The Republican Guard looks forward to the next series of congressional elections where they believe they can make huge inroads against the 2008 democratic landslide. News alert you manipulative, conservative opportunists. At best, you will pick up two seats in 2010, at worst, you will LOSE EVEN MORE GROUND. 

The Republican Guard has no soul. A successful political movement has to attempt to understand, to actually feel someone's pain before they will be trusted. The Republican Guard's reluctance to condemn what the banking credit card industry is presently doing to their best customers carries more weight than all the tea from all of those teabag party protests. (learn more at

Republican Guard, we're on to you and your manipulation. If you can't stand up for people being financially oppressed and being denied basic opt out rights when changes in terms are made by the banks, I'll fight you day and night to make sure you don't get your grubby hands anywhere near congress, you out of touch, publicity grabbing, opportunistic, heartless twits.

This is no longer a Republican versus Democrat issue, this is now the banking industry against the heart and soul of their most trustworthy customers, the ones that make their payments on time every month. Meanwhile, Newt, Rush, O'Reilly and Fox and Friends want to turn back the hands of time to 1994 and the contract with amnesia.

The Republican Guard wants to create a taxpayer revolt againt the democrats and the bailout bill while they themselves conveniently ignore the grand theft the banking industry is conducting against honorable and responsible americans. The Republican Guard really must think we are dense.

Saturday, April 18, 2009

Interesting Internet Research Blog called Truth Laid Bear.

Truth Laid Bear might be an additional research tool for you all to consider. I've set up the link above to go to stories related to Hillary Clinton that appear on all blogs.

You can simply type in your own search words to do a different search.

I like the way TLB lays out the search results like a newspaper. However, when I typed in various variations of "PUMA" or Hillary Clinton PUMA, I don't think I got that much. If anyone would like to share the optimal way to use this sites search box, please post in the comments section.

It seems like one might discover an interesting blog previously unknown. I don't understand how joining the site benefits one. You might want to try typing in your own name and see what comes up. Feedback in the comments section of this article about truth laid bear is appreciated.

Thursday, April 16, 2009

Van Nuys Post Office, April 15th Deadline, Some People get Unfairly Penalized for being late when they are not.

The headlights were on but nobody was home on Sherman Way in Van Nuys California as about a dozen cars were temporarily abandoned while the drivers turned sprinters made a mad, but hopeless dash to get their income tax returns officially in by midnight, April 15th, 2009.

I think the Van Nuys Postal station does an excellent job overall of getting last day income tax filers accommodated, but the final 1/2 hour before midnight is when things start go wrong and some people get unfairly penalized even though they actually were on time.

Here's what happens as the IRS tax day clock approaches midnight, people start arriving who didn't finish their income tax papers but wisely realized getting to the station before midnight is just as important as arriving late with their return already completed. These unfinished income tax filers pull up just past where the drop off point is and park their car while they finish their return! These stop, fill out, and clog traffic filers end up penalizing those who already finished their income tax returns and just want to drop them off and go.

Factor in that others will park on Sherman Way just past the outside mail drop off point and then go inside the building to drop off their return, once again clogging the same drop off area and causing the line of cars on Sherman Way to unnecessarily back up.

To make matters worse, some of the streetside postal employee stations are being shut down prior to midnight because traffic flow does lighten up a bit from 11::30pm onward. The one outside drop off position that was still going strong in front of the Van Nuys Station included a postal worker heroically trying to help keep the line of traffic moving by asking motorists to honk their horns at the cars idling just a few feet in front of them. This postal employee probably helped some filers make it on time with her car honking strategy.

I would advise that when some of the outside mail drop off stations shut down before midnight that an employee or two shift to traffic control to help ensure traffic not clog up just past the one remaining pick up station in front of Van Nuys.

I don't know if IRS rules do not allow anyone standing in line inside a postal building to be considered on time even if it is after midnight, but they should. By extension to that rule, anybody still in line in their car, on the street, should be allowed to have their return be counted as on time as well.

I observed all of this after dropping off my envelope and then holding my protest signs against Chase Bank (
CHASE BANK, KEEP YOUR WORD! and promoting I made sure I was not a distraction to the street line of filers so I positioned myself after the drop off station. That was when I started to notice the late minute filers clogging up the street.

Suggestion for the Post Office and the IRS, allow a post office issue "Midnight Stamp" to be used on those who clearly were in line when midnight happened, but were victimized by those clogging Sherman Way just past the drop off point. The Midnight Stamp serves two purposes, it allows the Post Office not to lie about whether something was posted by the midnight deadline, and it provides some fairness for those who would have been on time if not for traffic bunching up on Sherman Way just past the drop off point.

Let us not judge why some people came at the last minute, lets just be fair.

Monday, April 13, 2009

A Challenge to Fox Television and Rush Limbaugh, STOP Encouraging Anti Obama April 15 Tea Party Protests and Encourage Protests against Chase Bank.

Can you see Fox News ever taking on the credit card industry with promos encouraging people to protest against the banks? If the idea of Fox News taking on the Credit Card Industry makes you laugh, then perhaps you should be offended that Fox News Television is instead egging people on to protest on April 15th about their government, their president, the bailout and taxes, even as Fox News says and does nothing about the banks.

Well Newt, will we ever hear you utter a negative word about what Chase Bank and soon to follow Citibank and are doing to the same americans that you want to convince should put all of their energy on blaming government and none on corporations?

Banks are actually doing more damage to blue collar america with their 250% monthly minimum payment increase on pre-existing low interest credit card agreements. The banks are "rushing" to get back to financial stability by financial suffocating trustworthy americans who have never been late on their low interest credit card payments just so they can put up slightly better numbers on Wall Street.

Speaking of Rush Limbaugh, would Rush Limbaugh ever go on the air and castigate the credit card companies for their recent actions in raising the rates on low interest accounts that were supposed to be fixed for the life of the loan? Maybe Rush should spend a bit more time fighting for the blue collar worker rather than getting his followers in a lather over political issues. This is about people Rush. When have you ever fought for People that are being directly attacked by Credit Card Companies.

Learn more about Chase and their evil, evil ways at

Tea Party Protest Do's and Dont's. What NOT to Write on your Protest Sign if you don't want to be labeled a loon or Republican Operative by the Media.

Tea Party Protests started yesterday, April 11, 2009. My concern was that if Barack Obama, his alleged citizenship status, or if socialism, fascism, the bailout or the constitution were mentioned in any way, the protests would be labeled as Republican driven, making the protests somewhat easy to dismiss as the rantings of "bitter" Republicans or conspiracy types.

Apparently, in Los Angeles, that is sort of how the Chase Bank Studio City Protest event was reported by KABC-7 News. The Studio City location that I was invited to attend on Saturday had approximately 2 to 3 dozen protestors. Most of the protest signs were about issues that the protestors felt passionately about, but they did not convey a unified message. Because the protest was in front of a Chase Bank, I was able to use my "Chase, Keep your word" protest sign, along with my sign.

-----rest of article below---------------


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I believe that going after the banks and their cheating and thieving ways is neither a Republican or Democratic position. I fear that the April 15th Tea Party's are going to be minimized with accusations of Republican manipulation. FOX Promo doing more harm than good.


Exposing the illegal suctioning of money from the middle class by the banks via change in terms on millions of credit card accounts is a big enough issue to be mad about.

Exposing the theft of Frequent Flyer miles from American Express consumers so Citibank can acquire them in exchange for cushy loan deals with American Airlines is another non partisan issue.

On the Crooks and Liars website, notice how the Studio City, CA Tea Party Protest Discussion takes a turn for the positive when the discussion changes from labeling the protestors as bitter republican protestors to discussion about how Chase Bank is harming hundreds of thousands of trustworthy americans.

Rather than protest about Barack Obama, fascism, socialism, natural born, or the bailout itself, I believe if the April 15th tea party protests could focus on something most of americans agree on, we can change that one thing, rather than just be minimized by the media as being a republican based protest.

So I am asking, do you want to have the right to have your very specific protest heard and obfuscated by the media, or do you want to help affect change and save millions of americans upcoming grief when they open up their credit card statement and see a low interest life of the loan offer balloon from 2% to 5%, aka 200 dollars to 500 dollars a month payment!

At the Studio City Tea Party Protest, I was the only one protesting against Chase Bank and their illegal and incredibly destructive, anti-family credit card billing tactics even though the protest was in front of Chase bank, yet I got a much more positive response than any other cause being protested that day.

I don't just want to be heard, I want to help affect change that can instantly benefit millions of americans from the hostile, insensitive and illegal actions the credit card companies have spawned.

Sunday, April 12, 2009

Arianna Huffington's new nickname for Barack Obama, The BankCentric Kid, and She's Right, for a Change, ahem.

For the past several weeks, I have had an uneasy feeling about all of those "meetings" Barack Obama has had with Wall Street Bankers and the financial "stall warts" that really don't relate to US.


I've never quite felt comfortable with Barack Obama's ability to connect with the everyday person during last year's election because Obama also relied on the corporate elite banker to win the white house. These two groups couldn't be more polar opposite and don't relate to each other.

I do believe Barack Obama deserves a year before he is judged. However, I keep seeing the same type of pattern emerging that makes me wonder if it is going to be pointless to wait a year before judging.

Passing a heavy handed bailout package that has no support at all from the other major political party is what I call a forfeit victory. The other side didn't have enough players to compete effectively, so the game is called without being played and is called a forfeit victory.


In sports, the winning side must be very careful if they choose to celebrate a forfeit victory. In some baseball competitions, a team can get a forfeit victory by being ahead by either 10 or 15 runs. The winner is wise to not openly gloat about their "mercy rule" victory in front of the losing team and instead may wait until later, just as Barack Obama did after the bailout bill passed and celebrated at the white house. However...

If the other side did not have enough players to compete at the start of the game, this too can be called a forfeit victory. I can pretty much guarantee that NOBODY celebrates a forfeit win when the other side can't even field enough players at the start of the game.

When it came to the passage of the bailout bills, one could call that a forfeit victory as well as the Republicans could not even field enough congress people to prevent a "mercy rule" victory.

Barack Obama celebrated his bailout bill mercy rule victories at a white house party replete with 100 dollar a pound wagyu steaks imported from Japan. Welcome to Barack Obama's world, where celebrating a slam dunk victory when the other side could not even field enough players, is a way of life. Not much different than when Barack Obama had his opponents disqualified for technical reasons in past political races. The patterns seem to remain the same and point to someone who thinks he is growing even as he performs the same old tricks he always has.

While Media Matters disputed the 150-170 million dollar estimated expenditures for Barack Obama's Inauguration, was it really necessary to spend that much money while people were actually freezing to death in their homes across the country? What if Barack Obama had budgeted 150 million for the Inauguration, then practiced his budget cutting skills and cut his own inauguration budget to 75 million, and then used some of the saved money to pay the heating bills of people who instead froze to death?

Wouldn't that have sent a clear and loud message that Barack Obama was really going to "change" things? Wouldn't he have instantly mobilized and even won over some of his critics if he could have kept his inauguration budget to one dollar lower than the last inauguration?

Now Arianna Huffington, who IS HILLARY CLINTON'S BIGGEST NEMESIS on the planet, is calling Barack Obama and his administration a bankcentric driven team, and she doesn't like it one bit. Neither does George Soros. Barack Obama's team of rivals seems to be in the habit of looking for the next forfeit in which they can unanimously declare a victory and then celebrate with 100 dollar wagyu steaks. It appears they don't even buy their victory steaks from a US company. Wow.

The latest evidence of Barack Obama's next forfeit victory was his recent statement that little cracks of light are shining through the economic gloom as Wall Street indicators begin to brighten...even as the credit card companies are wreaking havoc on millions of customers who have stellar credit and payment histories!

When the credit card companies begin to steal frequent flyer miles from their most loyal and trustworthy customers, and when the credit card companies begin to increase monthly minimum payments by 150% on their customers who practice smart borrowing habits, can one really state that the economic gloomy clouds are lifting?

Perhaps the better question is, for whom are the gloomy economic clouds lifitng? Certainly not for the almost 2 million Chase bank customers who suddenly have to come up with as much as 500 dollars a month for a credit card bill they have never been late paying in the past or they will lose their super-low interest rate loan.

It seems to me if you believe in the everyday person Mr. President, and feel their pain, (ahem), you would want to harness those people's expectations and enthusiasm and guide them into creating their own success. Instead, I get the sense that the everyday person is really there to feed Barack Obama's world, and not the other way around.

Did you know that you You may be a Toxic Asset and not even know it! The reality that any american who accepted a low interest "until the loan was paid off" credit card offer from Chase Bank and other banks may now been labeled a toxic asset! These customers with low interest loan rates are being isolated for eradication by the credit card companies and is ANOTHER example of a Barack Obama team of rivals forfeit victory. The destruction of these smart consumers now know as toxic assets will generate more profit for the credit card companies as their credit rating gets slashed, thereby ensuring they pay higher interest rates on their debts, which creates more value on Wall Street. Is this the way banks are to operate so Barack Obama can then state that the economic clouds are lifting?

The amount of trustworthy credit card customers who were offered life of the loan, low interest credit card rates is relatively small, perhaps just a couple of million of customers who still have these great rates intact. Yet the bankers can't wait to destroy these customer's credit rating by raising their monthly minimum payment from 2% to 5%, a 150% increase above and beyond what they are already paying, with no opt out clause for the consumer!

If Barack Obama believes that labeling credit card customers with stellar payment histories "toxic assets" as one key to fixing the economy, then that is not the type of economy that needs fixing.

To Arianna Huffington, just what was in it for you to elect the "BankCentric Kid" in the first place since you now condemn his BankCentric approach?

Saturday, April 11, 2009


(Edit Note-Please see the more current Tea Party Article as well. TEA PARTY PROTEST DO's and DONT's.

If you live in LA, you are invited to a Studio City Tea Party Protest in front of the Washington Mutual Bank/CHASE BANK in Studio City.

Time: 1:30 - 4:30pm


Date: April 11, 2009 (Saturday)

Where: Studio City
(on the corner of Laurel Canyon Avenue and Ventura Blvd)

Address: Washington Mutual Bank (Now CHASE BANK) 12051 Ventura Boulevard, Studio City, CA 91604.




My Daily-Protests started last Monday, but this is the kick off of the nationwide TEA PARTY protests that will be running through April 15th. I plan on continuing after April 15th because there are specific, illegal things being done by the Credit Card companies that need to be immediately stopped, reversed, and apologies set forth by the executive boards of everyone of the major credit card companies. If you are interested in joining any of the protests, the goal of is to donate one hour a day to protesting at a Chase Bank in your area.

You can learn more at

Thursday, April 9, 2009


Click here to see the most current DailyPUMA article.

I actually broke this story on but that blog is only four days old and I don't think it was picked up by many PUMA's.

Here is how the AMEX and CITIBANK CUSTOMER STEAL BACK FREQUENT FLYER MILES PROGRAM works. AMEX has been closing accounts of their best credit card customers who had already accumulated 100,000 FREQUENT FLYER MILES all the way up to 7 MILLION FREQUENT FLYER MILES, and perhaps even higher! When these credit card accounts are closed, ALL OF THOSE FREQUENT FLYER MILES ARE ELIMINATED AS WELL!

In the meantime, CITIBANK is negotiating loans and other financial deals with American Airlines and US Airways IN WHICH CITIBANK ACCEPTS FREQUENT FLYER MILES AS COLLATERAL FOR LOANS!

It appears that AMEX and CITIBANK have teamed up. AMEX terminates what could amount to a billion miles of CONSUMER FREQUENT FLYER MILES or more by canceling the accounts of their best customers, then CITIBANK receives those miles in exchange for loans to American Airlines and US Airways! If you have been following we can see a pattern emerging in which the credit card companies are doing their utmost to create financial hardships to their best customers.

Who is allowing this credit card consumer swindle to happen? Who among our leaders has become so rotten to the core that these banks can continue to openly eat their very own customers? This is now two instances in which banks have attacked and devastated their best customers for instant profit, gain, and possibly a bump in Wall Street Share Share Prices once the next quarterly earnings report come out.

This is huge.

I'd like to thank KCBS and Joel Grover for breaking the frequent flyer rip off story. When I combined that news with my own research that Citibank is accepting frequent flyer miles as loan collateral, it becomes pretty evident that a quid pro quo involving the theft of millions of dollars worth of frequent flyer miles from good, on time paying customers is going on even as we speak.

Wednesday, April 8, 2009

Are you a Toxic Asset? Chase and Citibank may have you Pegged as a Toxic Asset, Especially if you Pay your Bills on Time!

Click here to see the most current DailyPUMA article.

Do you make all of your credit card payments on time? Do you scour the credit card companies for their best offers? Do you reject the credit card companies 6 month low interest rate offers that then skyrocket to much higher interest rates and instead hold out for the longer, LIFE OF THE LOAN, LOW INTEREST RATE credit card offers?

When you were offered LIFE OF THE LOAN, LOW INTEREST RATE CREDIT CARD OFFERS specifically because you have been a good customer who always paid your bills on time, did you ever think the banking industry would one day call your loan, and you, a toxic asset? 

Well let me be the first to tell you, YOU ARE A TOXIC ASSET IF YOU HAVE ALWAYS PAID YOUR BILLS ON TIME, AND YOU MUST BE CONVERTED TO SOILED GREEN.Soiled Green is the act of banks trying to SOIL your credit rating by increasing your monthly minimum payment 250%. When you can't afford this 250% increase (600 dollars a month for some customers) the banks then report your Toxicness to the credit bureaus and then charge you obscenely higher interest rates on the very same debt you previously had been paying down for years, on time.

In the movie Soylent Green, we discover the food source at the end of the movie is other humans. In this instance, we discover that the banks appear bent on destroying good credit scores of their most reliable customers so they can add fees and dramatically increase interest rates on them. Then these new found profits will be fed to those with poorer credit, resulting in even more loans at ridiculously high interest rates.

Once the formerly good credit rating is soiled, the customers OTHER CREDIT CARD LOANS will most likely get hit with much higher interest rates as well. Only then will Wall Street Be Happy because it means these robber baron banks have created more profit. At which point, the person with the formerly excellent credit history becomes a frightened worker bee whose only mission is to try and pay bills, nothing else matters nor do they care to get involved or protest basically illegal credit card actions out of fear they will fall further behind with their bills.

If americans do want to peacefully fight back against the credit card companies, please check out Not only will you be saving your fellow american, the one hour a day protest is turning out to be wonderful exercise!

When Chase and Citibank get through with you and you default on your long term low interest rate balance transfer loan because Chase and Citibank have increased the monthly minimum payment by 250%, Chase and Citibank can then file liens on your home, all the while charging you 1,000 percent more in interest on that same low interest, life of the loan credit card offer that you used to pay on time, and pay down, every month before the change in terms happened.

Chase and Citibank will now call you a toxic asset. In truth, you are actually a "Converted Toxic Asset". You were converted from being a solid, always paying on time customer, to a toxic asset, courtesy of Chase and Citibank and other banks that will soon follow their lead.A portion of the population was called "bitter" last year, now this year, additional americans are being converted to toxic assets by the banks who lent then money then changed the terms without giving these customers an opt out option.

For those of you who don't have these credit card loans and think this doesn't affect you, chances are a small business owner near has seen their business revenue decline because customers are now overpaying Chase and Citibank. Chances are a family friend or neighbor has been affected, and has internalized their problem rather than gone public.

Divide and conquer is a tried and true method and that is exactly what JP Morgan Chase Bank and Citibank are doing. Maybe you are not Bitter, nor a Toxic Asset, nor had your frequent flyer miles stolen and resold for better loan terms between American Airlines and Citibank, nor had a change in terms that you were not allowed to opt out, but most certainly some people who use your products or services have been affected, and that WILL affect your bottom line.

(edit note, Citibank seems to be waiting to pounce with their own change in terms plan, they may be waiting to see how much public outrage there is over what Chase Bank has already done before doing it themselves. I had been told by a Citibank worker that they were doing what Chase Bank was doing when I first wrote this article, but so far Citibank has shown far more integrity than Chase Bank by not following Chase Bank's path.)

Tuesday, April 7, 2009

George Soros Admits Banks are now Sucking the Lifeblood out of the Economy and their Local Communities.

From the blog Not Your Sweetie comes an interesting recap on what George Soros thinks about Banks and the economy. LINK - George Soros and Zombie Banks.

Full Original Reuters Article can be found HERE.

Good Catch by Not Your Sweetie as it directly relates to why I am protesting against Chase Bank and what they just did to tens of thousands, perhaps hundreds of thousands of their best customers. is convinced that protesting in front of Chase Bank is better than just accepting Chase's oppressive and destructive "solutions" to being "more profitable" at the expense of their best customers.

Sunday, April 5, 2009

DAILY-PROTEST dot com is now online and Chase Credit Card is the first target.

The biggest threat to millions of americans may just be the change in terms to ALREADY EXISTING CREDIT CARD DEBT! Chase Bank has basically decided that they can rework any credit card agreement that they previously offered to their customers at any time, and do it to the severe detriment and hardship of their customrs.

Rather than give an incentive in exchange for changing credit card terms, Chase is actually punishing its customers with their change in term proposals. has additional stories about credit card companies abusing their best customers. Daily-Protest will also feature any blog that reports on anyone protesting Chase Bank.

But the problem is not just Chase. If Chase gets away with chasing down their past credit card offers and changing them in a manner that will cause tens of thousands of americans to default so Chase can close out less profitable accounts, other credit card companies will be pressured to do the same thing.

If Chase succeeds, other Credit Card Companies WILL FOLLOW.

CitiBank is allegedly about to do the same thing as Chase.

So just what did Chase do? First, Chase offered low interest balance transfers to blue collar, honest, always pay on time customers. Chase and other credit card companies enticed their customers to pay off higher interest debt by offering them low interest balance transfer loans FOR THE LIFE OF THE LOAN. Yes, these magical, 3.99 and 5.99 percent loans were to help the consumer pay off higher interest debt specifically because of a consumers excellent credit history.

Presently, all the attention seems to be on those with negative equity and those behind on their mortgages. I have no problem helping those that badly off to try and get by, but to do it on the backs of the middle class that have been diligently paying down these low interest credit card offers is just outrageous, especially when the middle class cannot afford these changes. is a network of protest blogs that will be peacefully protesting directly in front of Chase Banks across the nation. There is no money or support being offered. That can surely be found right in your community among those that are about to lose their credit ratings due to the credit card companies mishandling of this situation.

Friday, April 3, 2009



Why doesn't some rich person offer a reward to any ACORN informant willing to explain how all of those fake names with authentic credit card donations made it into Barack Obama's campaign coffers?

At the end of the day, can any campaign and resulting presidency be allowed to legally stand for a full term if it is known that tens of millions of dollars were donated illegally through those closely associated with the Barack Obama presidential campaign?

Thursday, April 2, 2009

Afghan law requires wives to have relations with their husbands every four days, Not much different than Dr. Laura's Viewpoint actually.

Afghan Law Requires Women to have Relations every fourth day.

I would add the following rules to this law.

Rule number one. Woman should not be forced to get married, nor should they be discriminated against when it comes to employment and wage earnings if they remain single.

Rule number two. If a woman agrees to marry, she should be read the intimacy requirement prior to the marriage and voluntarily agree to it, or have the husband waive the rule should she not agree to it but still want to get married.

Rule number three. The intimacy clause should be negotiable every so often by both sides.

Rule number four. The mandated time for sex for both parties must be the same. If the woman must put out every fourth day, then so must the man, presuming the woman desires it. To have it be 4 days for the woman to put out, and 4 months for the man to put out, is unfair.

Rule number five. Counseling and instruction must be made available at any time if either person is unhappy with the other persons performance.

In my opinion this law was passed too hastily. I also am dismayed that this story is being described as "legalized rape". What it is is not thoroughly thought out and woman were probably not allowed to contribute their viewpoint to the law. It is shocking sometimes to see how manipulative the original headline from the original new story can alter what the real story is all about.

For you Dr. Laura fans, you know she advocates "taking care of your man." Is Doctor Laura wrong for taking that position? If not, then lets focus on what is weak about the law rather than condemning it with a catch phrase such as "legalized rape". I don't see the AP proclaiming that Dr. Laura advocates legalized rape even if she agreed with the four day rule.


Critics assail Afghan law that 'legalizes rape'
By FISNIK ABRASHI – 3 hours ago
KABUL (AP) — A new Afghan law makes it legal for men to rape their wives, human rights groups and some Afghan lawmakers said Thursday, accusing President Hamid Karzai of signing the legislation to bolster his re-election prospects.
Critics worry the legislation undermines hard-won rights for women enacted after the fall of the Taliban's strict Islamist regime.
The law — which some lawmakers say was never debated in parliament — is intended to regulate family life inside Afghanistan's Shiite community, which makes up about 20 percent of this country of 30 million people. The law does not affect Afghan Sunnis.
One of the most controversial articles stipulates the wife "is bound to preen for her husband as and when he desires."
"As long as the husband is not traveling, he has the right to have sexual intercourse with his wife every fourth night," Article 132 of the law says. "Unless the wife is ill or has any kind of illness that intercourse could aggravate, the wife is bound to give a positive response to the sexual desires of her husband."
One provision also appears to protect the woman's right to sex inside marriage saying the "man should not avoid having sexual relations with his wife longer than once every four months."
The law's critics say Karzai signed the legislation in the past month only for political gains several months before the country's presidential election.
The United Nations Development Fund for Women, or UNIFEM, said the law "legalizes the rape of a wife by her husband."
"The law violates women's rights and human rights in numerous ways," a UNIFEM statement said.
The strongest criticism came from Canada, a country that has lost 116 soldiers fighting the Taliban and spent up to $8 billion to support the Karzai government.
"The concept that women are full human beings with human rights is very, very central to the reason the international community is engaged in this country," Canadian Prime Minister Stephen Harper said this week in London, where he's attending the G-20 summit.
Canada's Defense Minister Peter MacKay said he will use this week's NATO summit to put "direct" pressure on his Afghan counterparts to abandon the legislation.
The issue of women's rights is a continuous source of tension between the country's conservative establishment and more liberal members of society. The Taliban government that ruled Afghanistan from 1996 to 2001 banned women from appearing in public without a body-covering burqa and a male escort from her family.
Much has improved since then. Millions of girls now attend school and many women own businesses. Of 351 parliamentarians, 89 are women.
But in this staunchly conservative country, critics fear those gains could easily be reversed.
Fawzia Kufi, a lawmaker who opposed the legislation, said several of its articles undermine constitutional and human rights of women as equals and take the country backward.
"All the efforts that were made in the last seven years to enhance women's rights will be undermined," Kufi said.
Karzai has not commented on the law. A spokesman, Waheed Omar, said the president is "aware of the discussion surrounding the law, and is looking into the matter."
Brad Adams, the Asia director for the New York-based Human Rights Watch, said the law is a "dramatic setback for women's rights."
"It directly contradicts the freedoms enshrined in the Afghan constitution and the international conventions that Afghanistan has signed up to that guarantee the rights of women," Adams said.
Safia Sidiqi, a lawmaker from Nangarhar province who condemned the legislation, said she cannot remember parliament debating or even voting on the law and she does not know how it came to be signed by Karzai. She called for the law to be recalled to parliament for debate.
"It is impossible in a two-month session for parliament to pass a law more than 200 pages long," she said of the 263-page law.
Sayed Hossain Alemi Balkhi, a Shiite lawmaker involved in drafting it, defended the legislation saying it gives more rights to women than even Britain or the United States does. He said the law makes women safer and ensures the husband is obliged to provide for her.
As Karzai seeks re-election later this year, he is courting voters in the Shiite community, Kufi said. Women voters are presumed to vote as their husbands do.
"Women's basic freedoms are being sacrificed for the political and electoral gain of a few parliamentarians," Human Rights Watch's Adams said.
Associated Press writers Rob Gillies and Charmaine Noronha in Toronto contributed to this report.
Copyright © 2009 The Associated Press. All rights reserved.

How Come the Biggest Consumer Blogs fall short of condemning condemnable actions by JP Morgan Chase Credit Card?

I have a friend with a Chase credit card. Approximately 2 years ago Chase Bank offered this person a 5.99% balance transfer offer until their loan was paid off. They were required to make a 2% monthly minimum payment. They have good credit and had reduced the loan from 13,500 to 10,000 by dutifully making their monthly payments on time.

Their monthly minimum payment on the 10,000 dollar debt is presently 200 dollars. Chase Credit Card is now going to raise the monthly minimum payment on this account from 2% to 5%. Chase's latest gambit preys on customers who had a good deal with them will probably help ruing their credit rating while robbing them of food to feed their families with. My friend's monthly minimum payment with Chase Bank is set to go from 200 dollars, to 500 dollars!

A three hundred dollar monthly increase is probably going to lead to default for my friend. The problem is not that Chase wants their money nor that they want their money back sooner rather than later. The problem is that Chase set up the rules, the customer completely abided by the rules, and now Chase wants to change those rules WITHOUT GIVING THE CUSTOMER THE RIGHT TO OPT OUT before the changes are made.

Citibank and many if not all other credit card companies have opt out clauses in their credit card policy that protect the consumer. I fear that if Chase is allowed to destroy the concept of "OPT OUT, other credit card companies will follow suit.

My friend can keep their 2% minimum payment option if they agree to have the interest rate raised from 5.99% to 7.99%. This creates the equivalent of an escalating monthly penalty that starts at around 18 dollars a month. However, when we factor in that each and every month 18 extra dollars goes towards interest and 18 less dollars is applied to the PRINCIPLE, the penalty will continue to escalate and extend the life of the loan.

After one year, we are looking at a loss of 500 dollars, and each year forward it will increase at least 100 dollars per year. So this one move by chase will cost my friend 500 dollars this year, 575 dollars next year, 650 dollars the following year. By the time this card is paid off, I am estimating it will cost my friend over 4,000 dollars in extra payments.

Prior to this latest move, Chase began, then eliminated a 10 dollar a month usage fee to anyone using their credit cards. Now Chase has figured out a way to replace a one fee for all with another fee for those who had solid credit that Chase trusted enough to give them a solid loan offer. Is it Chase's goal to first lure, then destroy every tier of middle class customer that presently exists with their bait and switch credit card tactics?

Chase credit card company already had the option of raising my friends rates for a late payment. If JP Morgan Chase Bank wants to so violently change the rules, then please allow your customers the right to OPT OUT and keep the existing agreed upon rules in place. It is the respectful, rightful, and ethical thing to do.

If somebody from the government does not step in and stop what Chase Bank is doing, even as the US Government is giving these same banks billions upon trillions of dollars, then we can all be sure that nothing has "changed".

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