Perry Glasser

Dollar$ Wizard Award #3

In Business, Finance, Politics on September 28, 2008 at 10:58 am

Dollar$ salutes yet another Wizard, Edward L. Yingling, president and CEO of American Bankers Association!

Dollar$ No Bull Definition: ABA = the bank lobby.

On September 23, Yingling released a statement expressing “disappointment” at the passing of H.R. 5244, the House of Representatives bill some call “The Creditcard Holders’ Bill of Rights.” The fools who represent us passed this evil little bill with a vote of 312-112, roughly 3 to 1. What can our reps be smoking?

Imagine! Elected officials have the mad idea that 45 days notice ought to be required for a credit card issuer to change interest rates! Our elected officials think 25 days notice on your credit card bills ought to be ordinary! They think the phrase “fixed rate” ought to mean…well, “fixed.” How will banks make money??

With his eye on the ball and the unrestricted right to screw the consumer, Yingling says, ““Sometimes things that appear attractive on the surface often come with too high a price tag. Increasing prices for consumers, reducing low-cost credit alternatives for small businesses, and causing more ripples in the securitization market make little sense.”

Ah, if only Wizard Yingling’s foresight was available to us when his organization’s members embraced uncreditworthy mortgages! If only Wizard Yingling’s insight about banks begging for $700 billion taxpayers dollars to haul their chestnuts out of the wreckage of the American economy!

Bank business; bank profit. Bank losses, taxpayer bill. 

So….Stand! Salute!

For distributing a strong dose of hypocrisy-laced Kool-Aid he’d never drink, for self-impotance brought to new levels, for fautous stupidity, for rapaciousness, greed, and disdain for the public,

The Dollar$ Wizard Award goes to Edward Yingling!

Dollar$ readers who wish to share their opinion of Mr Yingling’s enlightened stance should not hesitate to contact Yingling’s PR serfs.

ABA Media Contact: Peter Garuccio
(202) 663-5452

Let’s not be shy now… tell ’em how we REALLY feel!

  1. […] of a Dollar$ Wizard Award, bank lobbyist Ed Yingling, successfully campaigned inclusion in the unpassed bill of a tax levy on banks to pay for the […]

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