Rep. Waters on CEOs and TARP Accountability

Run time: 05:38 https://www.youtube.com/watch?v=60VwRS8rUC0   Posted on YouTube: February 11, 2009 By YouTube Member: Views on YouTube: 0   Posted on DU: February 11, 2009 By DU Member: babylonsister Views on DU: 698

 
Rep. Waters:
“All of my political life I have been in disagreement with the banking and financial services community because of practices that I have believed to be not in the best interest always of the very people that they claimed to serve. I’ve been through the redlining fights, I’ve been though the fights on discriminatory practices over the years, and a lack of business lending and available capital to small and minority businesses, I’m still engaged in a fight about predatory lending. So I come to this with very strong opinions about what we need to do to regulate this industry…I would like to know if any of you, since you received TARP money, increased the amount of interest on the credit cards by sending out letters to consumers, to your credit-card holders, indicating that this was part of the contract, even though it may have been in small print?”

If I were sitting there today, those are exactly the questions I would have asked as well. (Among others.)

Predatory lending practices, abusive fees, ridiculous policies, and offshore customer service. Is it any wonder Americans are unhappy?

Good job, Maxine! :thumbsup:

Ain't it nice how these asshats can sit there and joke about how they fucked things up?

You're just a regular fucking clown Mr Bank of America......You should have your own comedy show

If everyone on DU would see this video, and start to think about it, it might wake up those aboard who feel that any and all Bailouts are needed -- the sooner the better.

As long as geithner can put forward his motions to protect "the Captains of the Universe" and as long as Maxine Waters is the one being reprimanded, we need to worry about how we are going to get the real change that is really needed. Although it is nice that the Ship of State is under Democratic control, if that control only rearranges the cahirs on the deck, we might still slip be cast into a crisis that takes the nation down and out.

nearly doubling my interest rate.