Ann Minch & her Debtor's Revolt on YouTube – Good Idea or Wack?

Michael Uhlenkott
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Nov. 7, 2009

My Dear CyberFreaks,



There comes a time when you have to make a stand. And this week, we're making ours with Ann Minch and her Debtor's Revolt.



Last week, Pew released a study surveying the credit card policies of a dozen banks, which together control about 90 percent of credit card debt in the US. Many of these banks got our bailout money or are borrowing our money from the Feds at extremely low interest rates.



So, how are they repaying us taxpayers? They're jacking up the interest rates on our credit cards - no questions asked.



Ann Minch got the treatment from Bank of America, which notified her that they're raising her interest rate from 13 to 30%. And so she posted a video on YouTube, which she hopes will become the shot heard around the world.



Minch's solution to bring down the big banks? Take your money out of them and put them in credit unions and community banks.



We dish about Minch's ideas with Marketplace Radio's Senior Editor Paddy Hirsch. We ask Paddy, does Minch make sense or is she wack?

Go to CyberFrequencies to find out more!

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Also on this episode

Brian Greenlee
1 week, 6 days ago

Makes great sense to me! Better yet cut up the credit cards and never again use them. Cash and a Debt Card work just fine! The only problem is many of us are doing this all of a sudden all at one time, to do this we must eliminate debt while we are doing this our jobs dry up and we spin into our great deep depression! Then we can kick back and visit while we are unemployed because we stopped buying junk we really did not need to pay off the junk we already bought that we did not need. There is nothing like financial freedom. But keep the world turning all you tightwads out there saving every penny!!! And keep making widgets we do not need and we will keep buying them, we may have to wait 'til we have the cash though! Oh Darn.

Shout
1 week, 6 days ago

BofA and their likes are all Scrooge-like misers. What people should be doing is standing in the banks or parking in front of them with signs or t-shirts expressing what they think. Paint it on your car windows and park in front of there businesses. Print out leaflets on your personanl printers. Drop them at their doors or in their ATMs. Become a nuisance.
Then write your representatives.

Queena
1 week, 6 days ago

Hi - Queena here. Can you guys send me your info to offramp@kpcc.org? I might want you guys to rant on the show!

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