A Better Offer for Wall Street
By Däna Wilkinson, Attorney at Law on Oct 1, 2008 in General Bankruptcy Information
Okay, this is a serious blog about a serious subject. But once in a while you need a laugh, and Tiberius has posted an open letter with a “sweetened” offer to bail out Wall Street that is just too good to miss. This is just a sample:
Dear Wall Street,
Hi, this is the lobbyist for a group called The Taxpayers, Debtors, and Insured People of the United States. Now that we’ve rejected the first bailout plan, I’m sure that in the spirit of tough, free market capitalism, and spirited negotiations, you’ll consider our second offer. Here are some terms that I’m SURE you will find reasonable:
1) We are willing to loan you money at a very low, introductory rate of 8.9%. If you are even one nanosecond late on your payment, your rate will go from 8.9% to 32.9% instantly. You will have no right to appeal this. The interest rate increase will be retroactive. None of this “but I mailed it out Friday” nonsense. We must get it, and the check must clear, for your payment to count. A reminder: transactions that occur after 2pm are not credited until the next business day, so be sure to make your payments before then.
Read the entire post at Democratic Underground, or if you prefer, the post has been re-published in full, with permission, on the South Carolina Bankruptcy and Consumer Law Blog. (Full disclosure: I blog there, too, with my friend and colleague Sheryl Schelin.)
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