Simplifying the Barack Obama Citizenship Issue even as Media Matters Attacks Lou Dobbs for bringing the discussion up on his Television Show.

CLICK HERE TO SEE MEDIA MATTERS ARTICLE.

Apparently, Media Matters is outraged that Lou Dobbs brought up the Barack Obama citizenship issue. "How dare he", Media Matters is complaining, "time to shut up Lou Dobbs" they chortle.

I propose a different idea. Can we talk LESS about WHERE Barack Obama might or might not have been born, and focus some discussion on the citizenship status of Barack Obama's FATHER? Can anybody explain what Barack Obama's father's role is in determining whether or not his son can be natural born or not?

Is there any behavior or action that a father can do that would negate his child being considered a natural born citizen even if the child was born in the United States? Think about all of our past presidents.

How many past presidents had fathers who became US citizens BEFORE their sons ran for Vice President or President, the fathers REMAINING US citizens for the rest of their lives, or until their son ran for president? If the answer is ALL OF THEM, until Barack Obama, then "Houston, we have a problem".

If Osama Bin Laden had been a US citizen earlier in his life, then recently snuck back into the United States and fathered a child, and then snuck back out, leaving the child behind, would that child still be considered a natural born US citizen?

If the answer to Osama Bin Laden fathering a child on US soil and the child is declared a U.S. citizen, but NOT a natural born citizen, then other scenarios, involving ALL FATHER'S behavior and motivation, exist as well, and some of these scenarios may relate to Barack Obama's own father as well.

A lot of energy is being spent on where Barack Obama was born and almost none appears to be being spent on Barack Obama's father's path in life.

HOW YOU CAN HELP! MAKE A DAILY-PROTEST.com sign and put it where others will see it. Daily-Protest.com 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 Daily-Protest.com sign.

Are the Banks Gaming the System the Same Way Barack Obama Gamed the 2008 Democratic Nomination?

This week may be a low watermark day for our media when it comes to reporting financial noose (yes I mean noose, not news). The media is reporting all of these incredible banking numbers that show huge profits for most of the banks even though

... the BANKS LOST MONEY on THEIR CREDIT CARD and HOME MORTGAGE DIVISIONS!

I am worried that when I correlate this weeks reporting of glowing fake banking numbers with Barack Obama's overinflated and fraud induced 2008 caucus results, plus anywhere from 10 million to 200 million dollars in fake credit card donations Barack willfully accepted in 2008, I see old bad habits just that won't go away

...Barack Obama whispering to the bankers, "It's better to spread hope than fear"... or, maybe it is the bankers telling Barack Obama, "Just make it sound like we have profits", that is the most important thing."

Isn't it funny how on the one hand, things have been getting better for months, but on the other hand, if things ever do get better, Barack Obama will chortle that "it was a long, tough road, but I, er, we made it!"

What isn't funny is lying to the american people because it just puts off dealing with the real issues. The real issues are one trillion dollars of consumer credit card debt that nobody wants to see paid down, the freezing of home equity line levels at way below home market value, and the disallowance of any type of loan that is backed with actual tangible collateral, also known as "sweat equity".

Why grant someone to a loan that is backed by their own 10, 20 or 30 years of home equity collateral when Chase Bank can use the three methods mentioned above to put that customers entire credit rating in peril and perhaps create a chain reaction in which they lose their home?

It appears to me that banks have raised credit card interest rates, lowered home equity lines it unfair levels, not allowing collateral back loans as they appear to be waiting out people who otherwise would not have buckled financially if the Banks and Barack Obama had not gamed them.

(edit note, well it looks like I beat the AP, which has now released a story that starts with the following opening paragraph),CLICK ON IMAGE TO ENLARGE.

7 hours AFTER this article was first posted, the AP HEADLINE UP ABOVE along with their first paragraph has an almost identical first paragraph message as my own headline...I kid you not.

HOW YOU CAN HELP! MAKE A DAILY-PROTEST.com sign and put it where others will see it. Daily-Protest.com 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 Daily-Protest.com sign.

Over 1,000 CHASE BANK CREDIT CARD COMPLAINT LETTERS at CONSUMER AFFAIRS DOT ORG, NOT ONE FROM ACORN, is that POSSIBLE?

(EDIT UPDATE NOV. 7TH, 2009 - IT IS NOT ENOUGH TO SIMPLY FILE A COMPLAINT WITH THE CONSUMER AFFAIRS LINK PROVIDED HERE AND BELOW. PLEASE DO FILE A COMPLAINT WITH THEM IF YOU BELIEVE YOU HAVE BEEN WRONGED BY CHASE BANK.

BUT ALSO PLEASE GO TO ONE OF MY CREDIT CARD PROTEST BLOGS IF YOU WANT ME TO LOOK INTO YOUR SITUATION. I CANNOT GUARANTEE I CAN DO ANYTHING RIGHT AWAY AS NOBODY IS FUNDING ME, BUT I DO CARE AND MAY BE ABLE TO INCLUDE YOUR PROBLEM IN MY UPCOMING BOOK "The Cat Who Ate Chase Bank", OR ACTUALLY CALL AND FIND OUT WHAT IS GOING ON ON YOUR BEHALF. MY BLOGS INCLUDE DAILY-PROTEST, THE CAT WHO ATE CHASE BANK, BLOGGERS AGAINST CHASE BANK, AND ROBOTS AGAINST CHASE.)

It appears to me that not one ACORN member is complaining about the Chase Bank Credit Card Division's attempt to raise the monthly minimum payment from 2% to 5% on their low interest rate, life of the loan agreements on over a million of their most trustworthy and reliable, always pay on time customers.

These low interest, life of the loan Chase Bank Credit Card agreements are only offered to people with an excellent credit history and who are never late on their payments. There are over one thousand letters of complaints against Chase Bank at Consumer Affairs dot org in just the past few months, and the number is growing on a daily basis, yet ACORN is nowhere to be found. And where is BARACK OBAMA?

Kind of odd no? How can ACORN be so willing to fight tooth and nail against the home mortgage industry, yet not utter a peep against the thrashing that credit card debtors, many of who are home owners, are about to incur from Chase Bank come August 01, 2009?

Could it be that once many of these "best of the best" always "pay on time" Chase Bank credit card customers default on their accounts because they can't handle such a huge and onerous raise in the monthly minimum payment, they may also watch their credit ratings plummet to the point where their homes may be become more susceptible to foreclosure?

Is ACORN WAITING TO POUNCE on these one million plus Chase Bank Credit Card victims once they default on their loans? Or, is Chase Bank trying to default these best of the best of their customers so they pay higher interest rates in the future, ANOTHER WAY TO FEED THE THE ACORN MONSTER! HOW ABOUT BOTH!

Read the letters at consumer affairs dot org to see just how devasting Chase Bank's actions are going to be to as many as one million of their credit card customers.

When Barack Obama's wealthier presidential supporters still had plenty of money to give Barack Obama's democratic and presidential campaign, but had given the max they could give, wasn't it ACORN that buddied up with these wealthy supporters to increase donations in a questionable manner?

Wasn't it the combination of ACORN and the wealthy with their unlimited credit cards who funneled credit card funny money donations to the tune of 10 million, 50 million, perhaps as much as 200 million dollars last year under names such as Donald Duck and Mickey Mouse?

As we speak, it appears to me that while Hillary Clinton is sent round the world on behalf of the United States and Barack Obama, some of her supporters are being thrown under the Chase Bank bus.

Until I hear a clear and loud denunciation from ACORN in regards to Chase Bank's raising of the monthly minimum payment on over a million of their most trustworthy customers by 150% with no OPT OUT option, I see the Chase Bank situation as a crisis that SHOULD PULL HILLARY CLINTON AWAY FROM BARACK OBAMA.

IS ACORN RESPONSIBLE FOR CHASE BANK'S DECISION TO RAISE MONTHLY MINIMUM PAYMENTS ON OVER A MILLION "BITTER" AMERICANS WITH EXCELLENT PAYMENT RECORDS?

You might not know somebody who has been affected by Chase Bank's decision to raise the monthly minimum payment requirement from 2% to 5% on over a million of their most trustworthy and reliable customers, to repeat...

You might not know somebody who has been affected by Chase Bank's decision to raise the monthly minimum payment on over a million of their most trustworthy and reliable customers, simply because they are afraid or ashamed to say anything to you about it.

It is amazing to me that Chase Bank can create so much concern and anxiety over their hostile financial actions that hits to Daily-Protest.com have tripled in just the past few days.

It will be disappointing to me if more PUMA's don't get involved in the Chase Bank protests simply because this is a financial swindle being pulled off in the worst of economic times, and I believe that PUMA's are bearing the brunt of this economic swindle.

What you personally think about how other people have used credit is not the issue, what matters MORE is giving everybody a FAIR chance to pay down their debts.

ACORN may be the reason that over a million Chase Bank Customers are in danger of losing either their home or their excellent credit score.

Did Chase Bank go after a million of their best, most reliable customers in an effort to damage these customers credit rating so they will PAY HIGHER INTEREST RATES on their future debt?

It is possible that Barack Obama and the same people who manipulated the 2008 elections figure that "bitter, middle america" will not fight them over the Chase Bank 150% Increase in the Monthly Minimum Credit Card Payment Swindle that is currently going on.

It is also possible that the money Chase Bank is swindling from over one million of their most trustworthy, reliable, "BITTER" customers will go to help ACORN members get better deals on their home mortgage deals.

It would not surprise me to learn that ACORN ACOLYTES KNOW they can run away from credit card debt more easily than unmanagable mortgage debt, whereas us "bitter americans" will try with all of our might to pay ALL of our debts.

Even when companies like Chase Bank try to ruin our credit history with gargantuan increases in the monthly minimum payment that over a million Chase Bank customers MUST now shoulder, Chase bank believes we will continue to be law abiding sheep and pay the higher interest rates that comes with ruined credit.

It may be a very bad sign for "Bitter" Americans if ACORN is only fighting for home mortgage issues and AVOIDING the credit card controversies. I have googled the Chase Bank Monthly Minimum increase issue, and ACORN outrage does not show up at all! This is a very troubling sign.

While the media plays up the mortgage crisis, there may be millions of americans slowly losing their homes because of Chase Bank and unfair credit card practices and the freezing of home equity lines at drastically undervalued prices. My grave concern is that the people being affected are not ACORN people, and that may be why Chase Bank is going full steam ahead to potentially ruin well over a million american's and their families lives, you know, the "bitter americans" that Barack Obama spoke of during the 2008 democratic race.

I find it odd that a person putting up MORE collateral than the amount of the loan they are requesting will still be denied the loan unless they have substantial income! It appears to me that collateral loans are a profile that doesn't fit the typical ACORN member, therefore there are NO COLLATERAL LOAN PROGRAMS at this point in time? I don't know for sure if collateral backed loans fit ACORN members, but I bet collateral backed loans fit many Hillary Clinton supporters snugly.

To put this in perspective, Chase Bank is going to EXTRACT FROM these over one million americans who are never late on THEIR payments MORE MONEY PER MONTH than GEORGE BUSH and Barack Obama gave these same americans in stimulus and rebate checks!

Read about what may be happening to fellow PUMA's all over the country... Consumer Affairs has over 1,000 Chase Bank Complaints from just the past 6 months.

If I were to guess, I would bet that MOST of the people writing Chase Bank complaint letters to Consumer Affairs, DID NOT VOTE for Barack Obama, and that is why they are being left unprotected by our "team of rivals". Consumer Affairs has over 1,000 Chase Bank Complaints from just the past 6 months.

Bloggers Against Chase Bank

Daily-Protest.com

Change in Terms.com

REUTERS DROPS THE BALL WITH THEIR NEW HEADLINE "New law may reshuffle U.S. Credit Card Industry", a GIBBERISH ARTICLE FULL of NONSENSICAL NEWS.

Sigh, one minute you can find a good Reuters article to read, then they come up with a load of garbage about the credit card reform bill act of 2009.

Chase Bank Credit Card Company has already destroyed the credit ranking of tens of thousands, and perhaps hundreds of thousands of their customers specifically because the credit card reform bill was going to take effect in 2010.

Bernanke blew in Barack Obama's ear that the banks needed to screw over the american consumer for the rest of this year and then half of next year, and whomever was left standing would be grateful to Barack Obama next year when the credit card reform bill actually takes effect.

Ironically, the credit card reform bill of 2009 does not address the single biggest issue for the consumer, the right to OPT OUT when the BANK or CREDIT CARD COMPANY CHANGES TERMS on a PRE-EXISTING AGREEMENT.

Secondly, the credit card reform bill of 2009 bill does nothing to address the already almost one trillion dollars in consumer credit card debt in which the banks RAISED interest rates on to between 15.99% to 29.99% in anticipation of the credit card reform bill taking effect in 2010!

I generally trust Reuters, but articles about the credit card industry that actually try and make us feel sorry for them like the one I provided a link to above and here are making me rethink that position.

UPLIFTING REPORT from BETTY JEAN KLING about the CHANGING of NOW. NOW is the time for all GOOD WOMEN to TAKE BACK NOW from the ORANGE BANANA BRIGADE.

Please click and read Betty Jean Kling's article and DO SOMETHING, JOIN. Nothing will magically "change" if you wait until the next election to vote. Start it now, do it now, JOIN NOW. (Look to your left, she's staring right at you as you read this, (Edit Note)...well she used to be when this topic was higher on the page).

The Billion Dollar Stimulus Man.

For those who want to learn who Barack Obama's right hand man is when it comes to doling out all of that stimulus money, click and learn.

I just hope that Mr. Ed DeSeve is not pronounced "deceive".  

Richard Wolffe's new book Renegades appears to confirm that Barack Obama put his career ahead of caring for his family, some things never change.

I brought this point up last year, while Barack Obama's mother was dying from cancer in Hawaii in the mid 90's, it appears that Barack Obama went to Bali to finish tribute writing his first book about his deadbeat dad. When I factor in that it appears Barack Obama returned to Chicago to schmooze the financial elite for his political aspirations, it just makes it so galling to me that Barack Obama even mentioned his dying mother and health insurance reform for political gain.

Is it ethical to complain about the health care system if one doesn't make a worthwhile attempt to be there for their infirm loved one?

Yet Barack Obama mentioned his dying mother and healthcare reform in ads in Texas, and then again in the second debate against John McCain. It is one thing to not visit your last living birth parent in their final year of life, but it is quite worse to then use their situation for political gain.

So when Richard Wolfe writes in his new book...

Michelle Obama "hated the failed race for Congress in 2000, and their marriage was strained by the time their youngest daughter, Sasha, was born a year later.""There was little conversation and even less romance," Wolfe writes.

"She was angry at his selfishness and careerism; he thought she was cold and ungrateful."When Obama ran for the Senate in 2004, his wife still had mixed feelings about her husband's love of politics, and played no part in the campaign, the book says.

...I then wonder if this pattern of behavior as described above was also going on in the mid 90's! Food for thought to consider, what if....

... Barack Obama eschewed being in Hawaii by his terminally ill mother's side so he could instead go to Bali to write a book about his deadbeat dad? Is that not the kind of vetting the media should have been doing last year?

Here are a couple of pro Michelle and Barack Obama links and their reaction to the book.

Michelle Obama Watch and Politico.com article, read the Obots comments as they take their shots, who are these people?

Barack Obama wants to Hear From YOU!

Click here for most current DailyPUMA article.

Let Barack Obama know what is on your mind. I think you have until June 02, midnight, 2009 to let him know. Here is the link.

It looks like there is one issue that is heads and shoulders above the others by the name of "Let me see your papers", aka Birth Certificate.

For me there is a second issue, and that is the right to OPT OUT of any financial agreement when there is a proposed change in terms by the bank or credit card company. When a bank or credit card company wants to change the original agreement that both sides had been honoring, citizens should have the right to opt out, also known as, just say no.

Edit update, well, there have been 38 yes's to my OPT OUT as a consumer right, and only 3 or 4 no's. Sadly, two of those no's were from wanna be PUMA's who were so rabidly for Barack Obama revealing his birth certificate, they just spammed other topics and voted no against anything that was not about the Barack Obama certificate.  Of the 38 yes votes for my OPT OUT topic, most of them have come from outside of this blog. That is kind of a wake up call for me.

I am struggling with how PUMA's can be for Barack Obama revealing his birth certificate, but be ambivalent towards fighting so their neighbors don't lose their homes to unfair and usurious credit card interest rate increase tactics that are also suffocating the local economies all over the country, which actually affects everybody.

Remembering Sarah Silverman as Barack Obama seems intent on cutting annual social security benefit increases to zero & REDUCING medicare and medicaid.

Sarah Silverman, you stink.

This Sarah Silverman video gets so intellectually devoid of truth that at the 3 minute and on mark it has got to be one of the all time youtube wow moments (and not in a good way) for its cascading condescension and stupidity aimed towards the elderly.

You're just so hip Sarah.

Huffington Post AGAIN takes a Swipe at Wall Street, Bankers, and Barack Obama's Bailout Stimulus Package.

Sorry Arianna, you can't undo last year's election, and you can't change Barack Obama's mind. Anybody who abdicates their power to Barack Obama becomes an ally of Barack Obama, even if they are about to crash and burn whatever it is they do for a living.

Link to Andy Kroll's column appears on Huffington Post and he lets Wall Street and the Barack Obama Administration have it when it comes to the bailout, stimulus package, and anything to do with artificially stimulating the economy while ignoring the backbone of america, the actual citizens.

Link to the time Huffington Post called Barack Obama the "Bankcentric Kid".

BREAKING NEWS, JOHN ZIEGLER'S MEDIA MALPRACTICE PREMIERES IN NEW YORK CITY TONIGHT, MAY 19, 2009. SEE LINK TO A REVIEW OF THIS MUST SEE DOCUMENTARY.

Click here for the most recent DailyPUMA article.

Even though John Ziegler is known for being a conservative, his media malpractice documentary (which I am soon to view myself) focuses on how Hillary Clinton and Sarah Palin were both done in by the media.

Please support this important documentary by attending the New York Premiere.

HERE IS THE LINK TO THE EXCELLENT REVIEW OF JOHN ZIEGLER'S MEDIA MALPRACTICE BY NEWS BUSTERS.  

Did Oprah Winfrey's People ask Barack Obama to hold a Town Hall Meeting about the Credit Card Industry to get DailyPUMA off of Oprah's Back?

My prior article on DailyPUMA challenged Oprah Winfrey to devote an entire television show to how awful the Credit Card Companies are behaving in these tough economic times.

 24 hours later, Barack Obama announces a TOWN HALL MEETING in regards to the Credit Card Industry and schedules it for sometime next week in New Mexico!

Let me just add that DailyPUMA got hits from the Chicago, Illinois area soon after my prior article was written.

I write an article that exposes Oprah Winfrey for the greedy business person she really is, someone who would promote free chicken dinners to her audience to make herself look good to millions of people even as she IGNORES the economic raping of millions of americans by the credit card companies.  

Not to mention that Oprah recently had a television show devoted to how livestock animals are mistreated in which Oprah stated that she had not previously thought much about how such livestock are treated, but she would from now on.  I guess KFC passed the "grill test" when it came to how they treat their livestock, not.

The credit card companies are using PUNITIVE measures in these tough economic times to collect their debts when INCENTIVE BASED credit card programs should have been used to both reduce consumer debt and also create more consumer cash flow throughout local economies throughout every city in the entire country. 

The best stimulus plan of all would have been incentive based credit card debt payback programs, NOT the punitive based credit card debt payback programs that have been hurled on millions of americans instead.  

I'm probably the first person to have identified punitive vs incentive based credit card debt paydown programs.  That should tell you how screwed we are right now. If the credit card industry wants to hire me to help them create incentive based credit card programs, I would do so, happily.

Barack Obama has performed the "perfect" political move by announcing his hastily called town hall meeting. 

Barack Obama takes the pressure off of Oprah Winfrey so Oprah doesn't have to do a televisions show about the credit card industries punitive methods for destroying the lives of americans just barely hanging on month to month.

Barack Obama waters down and obfuscates the most important credit card issues plaguing americans by conducting a "town hall meeting" while making it look as if he is reaching out to blue collar america at the same time.

Plus, the Barack Obama fan club can then chortle that Barack Obama took on the credit card companies while involving the american people in the that process via a town hall meeting that was so hastily announced that no official date or venue was announced.

And of course, who knows what Oprah Winfrey does to reciprocate for Barack Obama getting her off the hook.  At the end of the day, nothing changes, and that is what matters most to fat cats like Oprah Winfrey.

Remembering a year ago, and the flip flopping the Barack Obama camp did on the delegate counts.

I stumbled upon a site that has a few different AP stories about the delegate counts listed.Barack Obama Flip Flopping on delegate tallies for Florida and Michigan.

Here is one AP clip from the link above...

AP - Barack Obama's campaign said Thursday that evenly splitting Michigan's delegates with rival Hillary Rodham Clinton would be a fair way to distribute them, now that the chances of a do-over primary are essentially dead.

------------------------------

Here is the second AP clip from the link above...AP - With the nomination in sight, Barack Obama is willing to give rival Hillary Rodham Clinton the lion's share of the delegates from Florida and Michigan but is stopping short of her demand to fully recognize the two renegade states.


That must have been some toothless lion that got the "lion's share" of delegates from Florida and Michigan.

Barack Obama Rumor about his residency and Occidental College, is it a hoax?

I was sent the following email that included an alleged press release news item from the "AP". There were three more paragraphs but the first one has everything in it that caused numerous conservative blogs to jump on the story.  However, this "AP" story actually does not appear to exist.

 AP- WASHINGTON D.C. - In a move certain to fuel the debate over Obama's qualifications for the presidency, the group "Americans for Freedom of Information" has released copies of President Obama'scollege transcripts from Occidental College. Released today, the transcript indicates that Obama, under the name Barry Soetoro, received financial aid as a foreign student from Indonesia asan undergraduate at the school. The transcript was released by Occidental College in compliance with a court order in a suit broughtby the group in the Superior Court of California. The transcript shows that Obama (Soetoro) applied for financial aid and was awarded a fellowship for foreign students from the Fulbright FoundationScholarship program. To qualify, for the scholarship, a student mustclaim foreign citizenship. This document would seem to provide thesmoking gun that many of Obama's detractors have been seeking.

When I tried to do a google of the phrase "certain to fuel the debate over Obama's qualifications" in the google news section, NOTHING comes up.  

If I do a general google of the web, several dozen or more pages show up with this "AP story". I think it is a hoax since it does not show up as an AP story when I do a google news search.

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.

Click here for the most recent DailyPUMA article.

(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.)

(2nd Edit Note, Monday May 18th, 2009, almost three weeks after what was written below comes an article questioning the stock markets recent rise.)

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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 Daily-Protest.com, 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 Daily-Protest.com 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.

This LINK just in, Congress Fiddles while Home burns. If everybody had less to interest to pay on old credit card debt, they'd automatically have more money to apply towards their mortgage payment.

WILL RALPH NADER be at the APRIL 23, 2009 WHITE HOUSE MEETING WITH THE CREDIT CARD INDUSTRY?

Change in Terms.com 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 Credit-Card-Cap.com (page-3 Solutions)

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.

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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.

WHO CELEBRATES 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?

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

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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 www.Daily-Protest.com. 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.)

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.

Daily-Protest.com 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.

DAILY-PROTEST.com 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.