The big financial institutions have received billions in taxpayer money but turn around and sock the people who bailed them out--currently devastated by Wall Street's incompetence--with interest rate hikes and fees at the worst possible time. Please support credit card reform now.
Frankly, sir, neither Mr. Geithner nor Mr. Summers seems to realize that if it looks like a duck, quacks like a duck, and feels like a duck--a reasonable working hypothesis is that it is a duck: a "capitalist democracy" is an oxymoron. And the incompetent banks puff themselves up as "too big to fail," reward those who created the debacle, whine to be bailed out, and will doubtless require continued regular feeding (like in the old movie "Little Shop of Horrors").
It's time to set priorities: save the people or save the banks and damn the people? Emails from your office tell me to attend house parties and canvass neighborhoods--the ones with the most for sale signs?-- to support your stimulus plan, but I am not sure that I do in its new form. The credit card industry is part of the banks' pinchers: if you really want people to stop being foreclosed against, don't allow them to drown in credit card interest rates.