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Bill Moyers on The Economic Elite Vs. The People of the United States [Video & Audio]

Bill Moyers on The Economic Elite Vs. The People of the United States [Video & Audio]

On March 1st, Bill Moyers gave his first public speech in three years, as the final speaker in the Dowmel Lecture series. In his speech, he addressed what he feels is "the greatest threat" to our country: the staggering inequality of wealth and the death of the middle class.

Full Report: The Economic Elite Vs. The People of the United States of America

Full Report: The Economic Elite Vs. The People of the United States of America

Read the full six-part report in one post. You can also download the full report with links and graphics or as a print-friendly document. HELP SPREAD THE WORD!

Max Keiser Interviews David DeGraw — The Economic Elite Vs. The People of the USA [video]

Max Keiser Interviews David DeGraw -- The Economic Elite Vs. The People of the USA [video]

David DeGraw appeared on the Keiser Report to discuss his new book, "The Economic Elite Vs. The People of the USA." DeGraw: "The American public needs to understand that we have been attacked. We are in an economic war right now and all economic indicators say that things are going to get worse...."

Part VI: How to Fight Back and Win: Common Ground Issues That Must Be Won — The Economic Elite Vs. The People of the USA

Part VI: How to Fight Back and Win: Common Ground Issues That Must Be Won

These are the core common-ground issues that we must urgently rally around and support. Unless we organize and take decisive action on all these issues, we will all suffer the consequences of our collective inaction.

Part V: Overcoming the Divide and Conquer Strategy — The Economic Elite Vs. The People of the USA

Part V: Overcoming the Divide and Conquer Strategy - The Economic Elite Vs. The People of the United States of America

The most significant bias in the mainstream media is not the liberal or conservative views propagated to divide, distract, confuse and create apathy among the populace; the ultimate bias is in what is missing from the coverage...

Part IV: The Financial Coup d’Etat — The Economic Elite Vs. The People of the United States of America

Part IV: The Financial Coup d'Etat - The Economic Elite Vs. The People of the United States of America

The entire bailout is strategically designed to eliminate the US middle class. Every time you hear the word "bailout," you should think "coup d’état."

Part III: Exposing Our Enemy - Meet the Economic Elite

The Economic Elite Vs. The People of the United States of America: Part III: Exposing Our Enemy - Meet the Economic Elite

Now that we have a better understanding of how the Economic Elite dominate our lives, let’s take a look at exactly who they are…

Part II: The Rise of the Economic Elite — Economic Elite Vs. The People

The Economic Elite Vs. The People of the United States of America

As a record number of US citizens are struggling to get by, many of the largest corporations are experiencing record-breaking profits, and CEOs are receiving record-breaking bonuses. How could this be happening; how did we get to this point?

The Economic Elite Vs. The People of the United States of America - Part I

The Economic Elite Vs. The People of the United States of America

AmpedStatus Report: It's time for 99% of Americans to mobilize and aggressively move on common sense political reforms. This is the first part of a six-part report. Introduction & Part I: Casualties of Economic Terrorism, Surveying the Damage.

Af-Pak War Racket: The Obama Illusion Comes Crashing Down

Af-Pak War Racket: The Obama Illusion Comes Crashing Down

AmpedStatus Report: The economic elite have escalated their attack on the U.S. public by surging military operations in Afghanistan and Pakistan.

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Debtor USA Fires Shot Across the Bow of Bank of America (VIDEO)

Posted on Wednesday, September 23rd, 2009 at 7:12 am, Filed under Activism, Economy, News, Video . Follow post comments through the RSS 2.0 feed. Click here to comment, or trackback.admin

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By Arthur Delaney, Huffington Post

Debtor USA Fires Shot Across the Bow of Bank of America (VIDEO)

Two weeks ago, Ann Minch of Red Bluff, Calif. announced in a YouTube video that she’d launched a one-woman “Debtors’ Revolt” and would refuse to pay off her credit card balance after an unfair interest-rate hike. Now, after her video made a huge splash, Bank of America has agreed to reduce her rate.

Minch said in a video posted Saturday that a Bank of America executive contacted her on Friday.

“He asked me to talk a little about my personal financial situation so we can negotiate some kind of agreement in regard to my existing credit card account,” she said. The executive “tried to get me to agree to 16.99 percent and I said, ‘No, nope, I believe because you guys are getting your money from the Fed at zero percent interest… that 12.99 percent is a more than generous profit margin for you guys.’ So he did finally agree to that and he also agreed to send me that in writing.”

A Bank of America spokeswoman confirmed to the Huffington Post that Bank of America got in touch with Minch, and, “based on additional information we received about her situation, we reached a mutually agreeable resolution.” Citing customer privacy, the spokeswoman declined to provide details. Minch said she’d send the Huffington Post the confirmation letter as soon as she gets it. (Her rate had been 12.99 percent for a long time before it shot up this year.)

Minch’s first video has been viewed over 240,000 times. After the Huffington Post featured the 46-year-old stepmother of two in a story, she found herself inundated with media requests from the likes of NBC, CBS, Fox News and also a local reporter.

Minch said the Bank of America executive was very polite and didn’t bring up her video, in which she called Bank of America executives “evil, thieving bastards.”

It’s a sentiment that resonated with HuffPost readers, who flooded this reporter’s email account with over 200 letters of praise for Minch and stories of credit card malfeasance. (To all who wrote in — I’m reading through every letter and will have a follow-up soon!)

Assuming the rate is reduced — Minch said her online statement from over the weekend didn’t reflect the deal — she will now pay off her credit card balance, which stood at $5,943.34 last week. In her latest video, she encourages others to keep the faith.

“Just because my personal account situation has apparently been resolved, which is a small victory for this debtors’ revolt movement, we still have a war to fight,” she said.

Here’s Minch’s victory lap vid:

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4 Responses to “Debtor USA Fires Shot Across the Bow of Bank of America (VIDEO)”

  1. Anthony said:

    Funny enough, I my wife and I did the same thing to Bank of America, Chase, Discover and Citibank to no avail (we didn’t do a YouTube video though…..very clever). B of A raised us from 5.9 to 26.99, Chase raised our interest rates and our minimum payment percentage significantly and as a result all of these credit cards drove my monthly expenses up more than 50% higher than they were in previous months. I was always on time, paid more than the minimums (granted I did use a significant amount of my existing credit lines), and as a result they said I was too high of a risk and they all raised interest rates and payments across the board. When I protested and said that it was ultimately going to make it impossible for me to pay and eventually default, their only solution was to close the cards…..basically taking away capital that I needed to be able to fund living and business expenses in a slow economy. I stated the same thing regarding the fact that I felt that they were loan sharking by borrowing at such a low rate from the Fed and yet jacking my rates, decreasing my credit lines, increasing my minimum monthly payment and adversely affecting my credit rating and they didn’t even care. So I told them that if they were going to screw me, then prepared to be screwed in return…..ultimately defaulting on all of my cards and now filing Ch 7 BK. I could not afford to meet their demands and they were not willing to work with me to find any middle ground. Funny enough, 90 days into default, every one of them is now contacting me to try to negotiate liquidating my debt, so they can recoup some money. Too little, too late. They screwed my credit by raising rates, decreasing credit lines and making me look maxxed out and finally defaulting as a result….why should I even consider saving face with them after my credit is already ruined?

  2. madderthanheck said:

    You owe the money. Pay it……. I bet you live in a big house too. I bet you drive a nice car….. Did you run up the debt paying for these extra nice things so you could keep up with the neighbors? I don’t drive the best car, but I do pay all of my bills every month. I refuse to carry a balance. Wake up people stop buying on credit…..

  3. Kevin said:

    America is and was built on credit you twit. Do you think Rockafeller went out and bought everything in cash? I too am having a problem with one bank The dip shit’s who bought WAMU if that wasnt dum enough they raised rates after they took my tax money to balance there books and are trying to reap ill gotten gains by screwing the people that feed them. I called and talked to them many times and the same result is (file for bankruptcy we dont care) instead of saying we’ll work with you and we’ll both benefit. Right now I’m ready to say take your 29.99 APR and stick it where the sun dont shine. As for what the last reply was,I do pay all my bills I dont over extend myself and dont live beyond my means. I have a 727 credit score. I wish someone would show O’Bama actually what these banks are doing with the money on a smaller scale and say “correct your practices or we’ll do it for you”. The next thing I would like to air is the credit scoring system. It sucks, It is totally bias toward the lender. They instantly post items that creditors report without any input from the borrower to contest it. Sounds like guilty before being provine innocent to me. Then there’s 3 Credit companies (they like to be called burea) becouse it makes them sound like the FBI, but there for profit companies who take money from creditors. They need more oversight and enforcement so they clear bias credit rating’s faster like 24hrs, kind of like it takes them to screw a credit rating. My whole point of this is to make it easy and as fast to repair credit as it is to damage it not wait 30 days for a response and them not do anything for another 30 days,

  4. Ken said:

    I for one could see this was coming years ago and have been lucky to be able to pay all my credit cards off and loans off so all I have left is my home. That is under the water right now or some will say upside down due to the way things are all around the US. The point here is that the Banks have been doing this forever this is nothing new. Because of the down turn they are just being more out there with it and more people are taking notice and saying foul. The banks wanted everyone with high balances so they could keep getting that high interest each and every month and the principal just never goes down. Now they are hurting because of the way the money was giving out without any thought on how it was going to be paid back. The housing problem is a side effect of the same process. Have you not noticed that the bank makes all the rules and they favor them not you? That has never changed and its been getting more so each year. As for filing for BK that is everyone’s choice depending on their own situation. Sad part you missed here is that the banks did not care to work a deal or lower the rates when the customer let them know there was no way that would work. Then when he defaulted after 90 days now they want to make a deal to get some of the money back. Point is the man tried to do that from the beginning but the bank took a hard line said no and too bad no deals. I don’t feel sorry for the bank at all. Yes there is something to say about you made the bills you pay the bills and in most cases I’d say that just because you made a mistake and did not use credit wisely it’s still your problem and you should pay up. In this case do to the amount of problems in our financial networks that is directly caused by banks and lending companies they were the bigger cause and effect of your current situation. Greed is simple and that is really what happened here. New laws need to be enacted on all the networks to curb this kind of actions in our future and to ensure the banks and CEOs cannot return us to this place again. The problem is if that is not done soon it won’t be and in 10-15 years after we recover we will be back again with even bigger problems. Wake up America and take charge of your finances.

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