Sunday, July 12, 2009

What I Wrote about Jamie Dimon of Chase Bank that HUFFINGTON POST WOULD NOT POST in the COMMENTS SECTION.

(Edit note). To be fair, Huffington Post DID print an earlier response of mine to that same thread.


As lawmakers worked out credit card reform legislation earlier this year, card issuers argued that tough restrictions would make credit costlier for consumers. Now that tough reform has been signed into law by President Barack Obama, some lenders are making good on those threats. Kezia Richards of Pennsylvania told the Huffington Post that last week she received a notice from Chase that her minimum monthly payments would be increasing from 2 to 5 percent of her total balance on her two...

----------Alessandro Machi Response that was not published--------------

Chase Bank board of directors Jamie Dimon is speaking moronically when he states that Chase Bank is trying to "help" two million Chase Bank customers pay down their low interest rate debts as fast as possible by raising the monthly minimum payment required from 2% to 5% on LOW INTEREST RATE, LIFE OF THE LOAN credit card agreements.

I am not privy to the exact numbers, but the approximately 2 million Chase Bank customers with amazingly good payment histories will be (adversely) affected by Chase Bank's unilateral, me first, scorched economy, 2% to 5% raise in the monthly minimum payment.

Chase Bank customers will LOSE BETWEEN 100 MILLION to 1 BILLION DOLLARS A MONTH as they are forced to increase payments on low interest Chase Bank loans while DECREASING PAYMENTS on HIGHER INTEREST RATE LOANS.

This 100 million to 1 BILLION DOLLARS of pilfered money will be diverted from local economies all over the country into the pockets of Chase Bank executives addicted to their obscene bonuses.Dimon's advocacy of the 2% to 5% raise in the Chase Bank monthly minimum payment requirement on low interest loans just proves he is incompetent, doesn't know what he is doing or saying, and should step down in these trouble economic times before he irrevocably ruins more lives than the number of breathes he will take even if he lives to be a hundred.

Why is Huffington Post AFRAID to print the above comment? Why?

Is the answer that the well known all protect each other, even when comments they attempt to conceal are truthful and if publicized properly could help save thousands of people from losing their homes?

HOW YOU CAN HELP! MAKE A sign and put it where others will see it. signs can be placed in a storefront window, a bulletin board at work, or a countertop. Raise curiosity and awareness about how Chase Bank is harming a LOT of of their BEST customers by making a sign.

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