What the New Credit Card Change Could Mean to You

Personally I think the "late payment" provisions of this legislation need to be made clearer. Some of the concerns raised in my previous credit card post, about companies arbitrarily moving payment due dates, have been addressed.

In theory, it looks like the concept of grace periods have been re-established, but to say payment must be due "21 days after mailing" seems strange.

There also needs to be some consistency about what constitutes being "30-days delinquent." Suppose I charge something on the 1st, the day before my statement cycles. I get a statement the following week with a payment due date of the end of the month. If miss that payment, am I really 30 days delinquent?

Yes, according to Bank of America, which holds my FIA card services credit card. For the record, overnight FIA recently nearly doubled my monthly payment, changing it from normally ranging around $125 to a whopping $250 a month. While they were at it they also increased my interest rate to 28 percent.

When I asked why, they claimed there was something "strange" in my credit profile. Knowing that not to be true, I challenged that assessment, they later claimed made a late payment -- a payment received after the due date. They failed to mention that yes, I missed the due date, but I also paid off the balance. My pay off check arrived a day or so after the due date. The next month, I used the card again.

For me the fundamental principle of offering credit cards with hopes they go into default should be outlawed. To design cards in a way that rewards looking for creative ways to make consumers delinquent is not only unfair but should be unethical. I don't care that card companies make money on getting investors to buy their credit portfolios.

Still checking for a list of congressmen who voted "no" on the house version of this bill.

Congress Passes Credit Card Bill

I want a list of the 64 congressmen who voted against this bill.

Reflections on Michael Steele's Press Conference

See: Steele says time to focus on future. From the Boston Globe

Today, while talking on the phone to a friend, I stumbled on Michael Steele's press conference as it aired on CNN. I was infuriated, as so often the far right-winged Republican rhetoric tends to send me these days.

Sadly Michael use to be his own person. But after his oh-so-public Rush Limbaugh smack-down, he has lost his own voice. And today, it was even more obvious that Rush, the newly throned party King as annointed by Dick Cheney, has Steele on a very short lead. No wonder rational Republicans, like Arlen Specter, (and Colin Powell, according to Cheney) are fleeing the party.

First let me say I am so very disappointed that the far-right-winged arm of Republican party continues to pit one person of color against another. Next, we can be sure to look for Bobby Jindal --coming soon to a press conference near you. Their tactics are so transparent, and I like most Americans feel it's really getting old.

Getting back to Steele's press conference. In it he claims: "the era of apology for Republican mistakes of the past is officially over." How convenient. Let's just forget about an illegal war and war crimes seemingly commited by the Bush administration along with it. Let's forget about the multi-billion dollar deficit.

How about this: the next time a criminal goes on a robbery spree, selling all the loot and covering up his tracks, he just washes his hands, sits back and decides to be done with the past and simply move forward. He can indeed move forward, but not before paying for the crimes of the past.

Steele then dares call the Obama first 100 days a reigh of "error." As if launching an entire war search for non-existant 'weapons of mass destruction' and even more non-existant links to al-Queda -- making the entire world less safe in the process -- wasn't enough.

"American needs us now more than ever," he quips. Why?

Steele says that Republican ideas are "being delivered to Washington in a tea bag." Ideas like having Texas succeed from the union? Like pitting Steele, a black man, against the President, another black man, while reducing Steele to simply becoming the public mouthpiece of Rush Limbaugh?

"We continue to borrow money we do not have," he ascerts. You mean like the 720 billion spent waging the Iraq war? Or like squandering the budget surpus left to us by the Clinton administration?

But most appalling was Steele's use of the phrase speaking truth to power. Exactly where was the truth in Steele's speech?

Let's face it. If there was any truth to Steele's ascertions, he would have preferenced his analogies this way:

Because of the Republicans we have: "spen(t) our country into the abyss,"

Because of the Republicans we have: "borrow(ed) money we don't have"

Because of the Republicans we were: forced to "usher in the most massive expansion of federal government control in the history of our Republic."

How about this, Steele. Let's stop this revisionist history once and for all. Go back to navel gazing. That was far more productive and much less scary.

The Mortgage Crisis: Where's Carper when you need him?

I'm really disappointed with Senator Carper's vote on this one. A judge should be able to distinguish whether a case involves fraud or not. Punishing everyone for the indiscretion of a few makes no sense at all.If you are disappointed too, pick up the phone and call his office at 202-224-2441.

US Senate defeats mortgage relief measure
http://news.yahoo.com/s/afp/20090430/pl_afp/useconomyhousingpoliticscongress

WASHINGTON (AFP) – The US Senate on Thursday defeated a measure that could have helped millions of Americans avoid foreclosure by letting bankruptcy judges cut their mortgage payments.

The White House-backed proposal, an amendment to another bill, fell in a 51-45 vote that failed to reach the 60-vote threshold needed to ensure passage.

The legislation, popularly known as the "cram-down" bill, drew fire from the banking industry and from Republicans who alleged that it lacked safeguards to prevent borrowers who used bad judgement or outright fraud from benefiting.

Assistant Democratic Senate Majority Leader Dick Durbin, the measure's chief champion, expressed disappointment at the result but voted to push the issue "until the Senate decides to put the interests of homeowners above the interests of bankers."

"We?ve given the bankers who got us into this crisis every opportunity to responsibly address this crisis and they have failed. I?ll keep working to give homeowners every legal means to save their homes," said Durbin.

Durbin said more than eight million homeowners were at risk for foreclosure.

The US House of Representatives had approved its version of the legislation by a 234-191 margin on March 5.

Inauguration Countdown: The Day After

Pix from the Prayer Service for the President at the National Cathedral.

Happy Obama Day!!!!

I woke up at 4 a.m., raring to go. My roomie wanted to have breakfast before we made our way downtown so we got dressed and made our way to the hotel restaurant to be there as soon as it opened at 5 a.m.

After breakfast we caught the hotel shuttle to the Foggy Bottom Metro stop. There was a bit of a backup, but it was not too bad. Once on the subway platfor

m two trains that were out of service passed us by. The next train was full, so we waited for the next one. It was also full.

We started talking to a transit policeman who was directing people traffic in the subway. He wanted us to wait for the next shuttle, which he said was immediately behind this one. While we were chatting, two young girls walked right in front of us and tried to get on the train ahead of us. It was like we were completely invisible to them. The cop made them get off again, though.

Interestingly enough, the train we missed stayed stuck in the tunnel for about 10 minutes before it was able to move. Since I have claustrophobia, I have to say I'm very glad we did

n't get on that particular train.

We moved up on the platform to the front and were able to board the next train without problem. We were standing, but at least we were on the train. The train slowly made its way to Capitol Hill.

We were supposed to get off at the Capitol South train stop, but apparently it was closed because it got too crowded. We had to get off the train at L'Enfant Plaza instead. Needless to say all the planning and scoping things out from the day before got tossed out the window.

By the time we got off the train it was 7 a.m. We asked directions to the Silver ticket area and were told to walk toward third street. When we got to third street saw that the Silver Ticket line extended way 

back past the Native American Museum all the way down to the Smithsonian Air and Space Museum --- about five blocks!!!

So we made our way back to the end of the line, which for all intents and purposes was about exactly where we got off the train in the first place.

Check-in went smoothly. The line started to move at 8 a.m. and everyone was orderly and moved quickly. They checked our bags and one officer groped by fanny pack like he was adjusting his family jewels. That was really weird.

We moved quickly to try and place ourselves were we had planned. Only there was a fence running down the length of the Silver section and we could only stay to the left of it

. My friend Pat thought that we should move closer to the jumbotron. I wanted to actually see the Capitol and really hoped to get closer. So I suggested we try to cross the street as soon as we could.

The policeman there held up the crowd from crossing because someone neeed to be carried out on a stretcher. So we waited. By and by he let small groups of people cross the street. Once across we got as close as we could to the divider that faced the Capitol grounds. 

We could see it...but there was a huge tree obstructing our view from the right side of the building. We were almost resolved to having to watch the whole thing on the jumbotron when suddenly the gates fell down opening up the Silver section clear down to the reflecting pool.

Immediately I moved to the left to be in clear view of the Capitol. I didn't go down the steps because I thought there would be a better vantage point from the top of the steps, rather than down below by the pool. 

Unfortunately when I moved, I lost my two friends.

Calling them by phone was no help. All cell phone calls were blocked. I was able to call briefly but got disconnected. I tried texting them. In the end, we remained separated for the entire ceremony.

My view was pretty good. I could see three jumbotrons and had a nice view of the Capitol platform.

I remember when we first caught glimpse of the Presidential motorcade as it headed towards the Capitol The crowd

 cheered as soon as they saw it, and the sound became even louder when we could actually see the black SVUs ourselves as they neared the grounds. It was very hard looking through my binoccu

lars, so I elected to watch the jumbotron like everyone else. More cheers for Presidents Clinton and Carter, little for the first President GW. Boos for Chaney. One women behind me said it would be fiiting to sing the classis song by Steam, "Na, Na, Hey, Hey, Kiss Him Goodbye," when Bush walked on. Interestingly enough, everyone else must have had the same thought because sure enough, people spontaneously erupted singing that v

ery song.

More cheers for Colin Powell. And then there they were. Joe Biden, Jill, Michelle, the girls and the future president. The crowd went crazy. I think it was then I realized I was crying.

More cheering of course, as Biden is sworn in. Then it was time for Yo-Yo Ma, and other m

usicians to perform. Simple Gifts is one of my favorite songs. I use to sing it in choir and wished I could play it as well as it sounded on the mall. Later we would

 learn it was all recorded, but the sweet musice filled the air almost making the wait for 

the moment of truth somewhat tolerable. Then it was time.

You could have heard a pin drop as Obama was sworn in. When the Presidental theme played indicating our new President was indeed, President, there was cheering and crying and shouting and we all hugged one another. Most of all I remember the hugging, there we were, most of us complete strangers, people of all races, ethnicities, genders, colors, political persuasions, all hugging one another like old friends. It was a moment I'll never forget.

You could almost hear a pin drop as Obama delivered his acceptance speech. 

One more day

Day five: One day before the

 Inauguration

Today we went to the Senate building to pick up our inaugural tickets. Every door into the Hart Senate office building had a line that extended for almost the length of the building.  I imagine things were about the same over at the buildings for the House of Representatives. Even so, it only took about 20 minutes or so to get in, have our bags checked and make it to the Senator Carper’s office. 

After picking up our tickets

, we took photographs at the front of the Capitol, and walked around as close as we could to the back to  watch the set-up for tomorrow’s inauguration.  Then we walked down to the Silver ticket area to try to

 determine the best and quickest route to the entrance.  Then we tried to determine the best places to stand to get a good photograph.

 

I tried out my new binocular camera. It works okay, but it's hard to tell what you're shooting. It has a viewfinder, but unlike most digital cameras there’s no screen that shows you what you’ve taken. It’s also hard to see or focus the image through thebinoculars.  

While there, I thought I took a shot of the Indian statue at the top of the Capitol building, but when I downloaded the photographs to my computer, I discovered I had only shot the inscription just below the figure. 

I got a nice close up of the podium, though.  Hopefully I’ll get one good shot during the swearing in. We’ll see…

We ended up walking to the Women's History Museum, which was breaking down an event -- a Brunch for the President-elect. 

We didn't get to see him, though. I photographed what I could then went to check out an exhibit on women photographers, that included Carrie Weems and Nikki Lee.  I looked at the Mary Cassatt and pottery exhibits too.  You could use your cell phone for an audio tour, which was pretty cool.

I guess I'll end at this point. Can't believe tomorrow's the day.