Comments on: Mexicans Fed Up With Banks Burn Credit Cards in Street Protest http://matadorpulse.com/mexicans-fed-up-with-banks-burn-credit-cards-in-street-protest/ Just another WordPress weblog Sun, 05 Sep 2010 13:29:28 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Eva http://matadorpulse.com/mexicans-fed-up-with-banks-burn-credit-cards-in-street-protest/comment-page-1/#comment-2786 Eva Sat, 15 Aug 2009 12:59:57 +0000 http://matadorpulse.com/?p=980#comment-2786 Crazy. The Canadian banks are considerably more regulated in their activities (Yay for "socialism" - ha) but I got my first taste of US-style banking last month when I signed up for a simple chequing account, for the sole purpose of being able to receive direct deposits in US funds, which I would then transfer online to my Canadian accounts. I was then hounded - we're talking multiple phone calls and emails - to accept a line of credit AND a credit card with the account, neither of which I had asked for. They were actually begging/bullying me to take on credit debt! No wonder we're in the situation we're in. Crazy. The Canadian banks are considerably more regulated in their activities (Yay for “socialism” – ha) but I got my first taste of US-style banking last month when I signed up for a simple chequing account, for the sole purpose of being able to receive direct deposits in US funds, which I would then transfer online to my Canadian accounts. I was then hounded – we’re talking multiple phone calls and emails – to accept a line of credit AND a credit card with the account, neither of which I had asked for. They were actually begging/bullying me to take on credit debt! No wonder we’re in the situation we’re in.

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]]> By: Michelle http://matadorpulse.com/mexicans-fed-up-with-banks-burn-credit-cards-in-street-protest/comment-page-1/#comment-2774 Michelle Sat, 15 Aug 2009 02:05:51 +0000 http://matadorpulse.com/?p=980#comment-2774 Oh my...you're right, Julie, people aren't educated enough about what credit cards are and what they can do. That welfare story is frightening. Oh my…you’re right, Julie, people aren’t educated enough about what credit cards are and what they can do. That welfare story is frightening.

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]]> By: Julie Schwietert http://matadorpulse.com/mexicans-fed-up-with-banks-burn-credit-cards-in-street-protest/comment-page-1/#comment-2770 Julie Schwietert Fri, 14 Aug 2009 18:28:14 +0000 http://matadorpulse.com/?p=980#comment-2770 Sarah- Agreed. And cultural re-education with respect to credit needs to happen worldwide, I think. Here in NYC, I've seen credit card companies sign up welfare recipients-- right in front of the welfare office! When I was a social worker, I had clients who thought that receiving a credit card meant they suddenly had money; since they'd never owned a credit card and no one else in their family had, they had no idea or experience about how credit cards worked and no one taught them. The very best education that any high school economics course could provide wouldn't be about stocks: it would be about credit cards. Sarah-

Agreed. And cultural re-education with respect to credit needs to happen worldwide, I think. Here in NYC, I’ve seen credit card companies sign up welfare recipients– right in front of the welfare office! When I was a social worker, I had clients who thought that receiving a credit card meant they suddenly had money; since they’d never owned a credit card and no one else in their family had, they had no idea or experience about how credit cards worked and no one taught them.

The very best education that any high school economics course could provide wouldn’t be about stocks: it would be about credit cards.

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]]> By: Sarah http://matadorpulse.com/mexicans-fed-up-with-banks-burn-credit-cards-in-street-protest/comment-page-1/#comment-2769 Sarah Fri, 14 Aug 2009 17:40:10 +0000 http://matadorpulse.com/?p=980#comment-2769 Mexico has some of the most egregious banks in the world! Credit rates here are out of control. There also needs to be some cultural re-education as far as credit is concerned. At stores like Elektra, and all the major department stores, people are putting hundreds of dollars of things on credit and it's creating a major problem. Mexico has some of the most egregious banks in the world! Credit rates here are out of control. There also needs to be some cultural re-education as far as credit is concerned. At stores like Elektra, and all the major department stores, people are putting hundreds of dollars of things on credit and it’s creating a major problem.

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]]> By: Marissa http://matadorpulse.com/mexicans-fed-up-with-banks-burn-credit-cards-in-street-protest/comment-page-1/#comment-2768 Marissa Fri, 14 Aug 2009 16:29:44 +0000 http://matadorpulse.com/?p=980#comment-2768 "Burning the credit cards won’t erase the debt, of course. But hopefully it will let Banco Azteca and its partner in crime know that the jig is up." Indeed. Unfortunately, I feel that most of the time, protest does not immediately change anything but it least it allows people to rally together and make their voices heard. I hope the situation in Mexico improves sooner than later. “Burning the credit cards won’t erase the debt, of course. But hopefully it will let Banco Azteca and its partner in crime know that the jig is up.”

Indeed. Unfortunately, I feel that most of the time, protest does not immediately change anything but it least it allows people to rally together and make their voices heard. I hope the situation in Mexico improves sooner than later.

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