Godlike Productions - Reply to Thread

Users Online Now: 2,151 (Who's On?)	Visitors Today: 980,559
Pageviews Today: 1,635,524	Threads Today: 657	Posts Today: 11,805
04:19 PM

REPLY TO THREAD

Subject The Fed will help banks but rejects helping American families

User Name

Font color: Font:

In accordance with industry accepted best practices we ask that users limit their copy / paste of copyrighted material to the relevant portions of the article you wish to discuss and no more than 50% of the source material, provide a link back to the original article and provide your original comments / criticism in your post with the article.

Original Message [link to breakingnow.net]

The Federal Reserve rejected a request to force credit card companies to immediately halt retroactive interest-rate increases on existing balances, Democratic Senator Charles Schumer said on Tuesday.

Schumer and Christopher Dodd, who chairs the Senate Banking Committee, asked the Fed last month to use its emergency powers for rescuing banks to also help credit card consumers being slapped with unexpected rate increases.

“The Federal Reserve’s failure to protect consumers from these outrageous rate increases is unconscionable,” Schumer said.

“The Fed has acted swiftly to use its emergency powers to steady teetering financial institutions. It is fair to ask why they won’t use the same powers to aid American families who are at just as great a risk.”

A Fed spokeswoman could not immediately be reached for comment.

Bend over guys...

Pictures (click to insert)





\| Next Page >>