Tuesday, February 09, 2010

The Indymac sweetheart deal - at our expense

This just gets my blood boiling.

Institutional rape.

People, I can't believe I'm about to say this, but - stop paying your big commercial bank debts. These people have got to at least lose some money at the bottom while they are raping this country from the top. Everything is legitimate now. Credit cards? screw em, it's unsecured. If your credit card says "Bank of America", or "Chase", or "Citi", or "Wells Fargo" or "Capital One" or any of those - you know who they are - just charge it to the gills and let it rot. House underwater on the first and you have a second or HELOC? stop paying the second (especially if you're in California, where the HELOC lender literally can do nothing to you or your house except charge it off). At this point, I am of the mind that a consumer debt revolt needs to happen to bring this entire house of cards down. Work with your credit union or your small local and regional bank, work with your friends, just please, please stop working with the monsters.

And check this site for inspiration.

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