Criminal Wall St Banks Paradigm.
Image via WikipediaWall St Banks robber Barrons?
Inside view of the Criminal Wall St Banks Paradigm.
They can't out right steal, it has to be done behind
some curtain of "Legal".
And if they do it all at once it would call
attention to their criminal activities.
They are doing it in sections.
In one arm of their criminal combine
it has come full circle.
They started with setting up corps
in States without any consumer rights
agencys, and they federalized it.
Loan Sharking, to be profitable
there has to be a way of making
the mark/sucker collectible and then
forcing him to pay.
The mafia would only lend to those
with assets, like a business, break
his hands and arms if he didn't pay
and then steal his business.
Banks found a different way.
They started charging usury
interest rates on Credit Cards
in states without consumer protection.
Delaware is one of those states that
allow screwing its citizens with an absence
of any real consumer protection.
Then the Banks got Federal protection
for their loan shark rates from the Comptroller
of the Currency, allowing loan sharking in all
50 states under a Federal protection mandate.
In the second to last round of "Banking Regulation"
( from this date.G) Congress passed a LAW,
forbidding states from passing laws against the
banks loan sharking interest rates.
And Congress had the BALLS to call it
But how can the Banks collect from the poor.
They give Credit cards to people they know
can't pay back. OR CAN THEY?
These poor do have a life time stream of
income, they work, and they will also get
But many when trapped by the Banks
in legal loan shark contracts would just
file bankruptcy, leaving the banks empty
handed, they couldn't collect their Vig
if it was discharged in bankruptcy.
So the Banks got the bankruptcy laws
changed,now they can chase their
loan shark victims to the Grave even.
They have a much harder time discharging
CC loans now and can garnishee income
for life even attach their Social Security or
sue the estate after the victim dies.
But they don't want to wait.
Good thing USA doesn't have debtors
prison any more, a thing from old English law.
Well surprise thats the current target.
And the Banks ARE getting people
jailed for not paying the criminal
loan sharking vig to the banks.
"But people are routinely being thrown in jail for failing to pay debts. In Minnesota, which has some of the most creditor-friendly laws in the country, the use of arrest warrants against debtors has jumped 60 percent over the past four years, with 845 cases in 2009, a Star Tribune analysis of state court data has found.
Not every warrant results in an arrest, but in Minnesota many debtors spend up to 48 hours in cells with criminals. Consumer attorneys say such arrests are increasing in many states, including Arkansas, Arizona and Washington, driven by a bad economy, high consumer debt and a growing industry that buys bad debts and employs every means available to collect."
"In Illinois and southwest Indiana, some judges jail debtors for missing court-ordered debt payments. In extreme cases, people stay in jail until they raise a minimum payment. In January, a judge sentenced a Kenney, Ill., man "to indefinite incarceration" until he came up with $300 toward a lumber yard debt."
"the use of arrest warrants against debtors has jumped 60 percent over the past four years, with 845 cases in 2009,"
Who are these Judges, Names?, they need to be exposed.
While the banks don't do the actual collection,
they do need a method to make these loan shark
CC contracts collectible,there maybe 50 to 200
collection agencys going after these victims
until they collect their vig or the victim dies.
And then they go after any estate they leave behind..
And I remind you this is only one branch of
the banks criminal activities.
They will get a piece out of YOU..
Again and again, again.
CC loan sharking, Stock Market privileged
trading, bailouts, how much did you lose
in the Market crash from the sub-prime
paper debacle or maybe you lost your
job or home, in the credit crunch
from the toxic paper the banks sold.
This depression triggered by the Wall
St Banks fraud in sub-prime paper.
Congress has legalized every crime
the Wall St Banks wanted to commit.
Series 3 &7
The federal government does not keep figures on these kinds of arrests, and the industry would prefer to keep it that way, says Robert Hobbs, deputy director of the National Consumer Law Center in Boston. “My suspicion is the debt collection industry does not want the world to know these arrests are happening, because the practice would be widely condemned,” Hobbs told the Minneapolis-St. Paul Star Tribune.
In Jail for Being in Debt (by Chris Serres and Glenn Howatt, Minneapolis-St. Paul Star Tribune)
Judge Must Release Woman Sentenced to Jail for Being Poor, ACLU Says in Court Papers (ACLU of Michigan)
TOP FIVE COMPANIES USING DEBT ARREST WARRANTS
Companies that buy bad debts frequently seek warrants to arrest Minnesota debtors. More than 1,600 other creditors also used the process, in most cases just once.*
Firm Location Type of firm 2005-2009
Abuse of process.
Unifund CCR Partners Cincinnati Debt buyer 247
Portfolio Recovery Assoc. Norfolk, Va. Debt buyer 130
Debt Equities LLC Golden Valley Debt buyer 92
Capital One Bank McLean, Va. Credit card issuer 53
Lakes Gas Co. Forest Lake Propane supplier 41