Warm Southern Breeze

"… there is no such thing as nothing."

Posts Tagged ‘district’

“Too Big To Fail” Banks Get Bailout, Gave Customers The Shaft

Posted by Warm Southern Breeze on Monday, December 19, 2016

Chalk One Up for the Working Man

By Donald V. Watkins
©Copyrighted and Published (via Facebook) on December 18, 2016
Used with permission

On Thursday, I tried a case for a close friend on mine in the Jefferson County, Alabama District Court in Bessemer, Alabama. My friend is a hard working Bessemer resident and family man whose world was turned upside down when Citibank sold his credit card account to San Diego-based junk debt buyer, Midland Funding, LLC. He is one of millions of bank credit card customers each year whose accounts are bundled in loan pools and then sold to junk debt buyers without the customer’s knowledge.

Midland Funding is one of several mega junk debt buyers in America. This group of financial sharks buys unsecured bank debt for pennies on a dollar and then strong arms debtors who miss one or more of their monthly payments. Midland is part of a multi-billion industry of shady financial predators.

In my friend’s case, Citibank sold his account to Midland Funding. The balance on the account was $6,800. My friend paid his credit card monthly on a regular basis, but had an unexpected hiccup in his monthly cash flow a couple of years after he opened the account. As a result he failed to make a couple of his payments on time. When this occurred Citibank sold my friend’s account to Midland, and Midland eventually sued my friend. This is how my friend became my client.

Remember, Citibank had a similar hiccup during the Great Recession of 2008. The bank requested and received a total of $181.6 billion in federal bailout assistance to keep from collapsing. In fact, Citibank led the banking industry’s “welfare queens” by receiving more financial bailout assistance than any big bank in the U.S.

Citibank’s “Thank You” to the taxpayers like my client, whose tax dollars made the financial bailout possible for these big banks, was the low-down act of selling his credit card account to a shark like Midland Funding. The big banks were quick to take taxpayer-sponsored financial assistance, but slow to give taxpayers similar financial assistance in return.

[Editor’s Note: Alamerica Bank, which is Read the rest of this entry »

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“I don’t consider this an increase.”

Posted by Warm Southern Breeze on Thursday, October 22, 2009

I’ll reserve at least four pejoratives for Dr. Mary Jane Caylor, who, along with other Board of Education members – save one –  voted to increase Alabama’s Community/Junior College tuition 27% in two steps, with automatic 2% increases annually beginning in 2011. Fees were not increased.

The subject line is a direct quote from her after she voted to increase costs.

I don’t think I can express adequate contempt for that idiot woman. To call her a “bitch” would denigrate female dogs.

Members of Alabama’s Board of Education oversee K-12 schools and community/junior colleges.

The solitary vote cast against the increase was from Stephanie Bell of Montgomery, who cited students’ economic difficulties not only in her district but statewide.

However Dr. Mary Jane Caylor of Huntsville was quoted as saying, “I don’t consider this an increase. I consider this an adjustment.”

So… what is this, you lying dumbf@#$? A “reverse decrease”?

Board members justified their move claiming state budget cuts amidst difficult economic times had made it necessary, and that it was the first increase in five years.

One doesn’t have to be a rocket surgeon or brain scientist to figure out that if costs are decreased, a certain amount of increase will inevitably result. Consider, for example, what might happen to higher education in Alabama if tuition costs were halved!

Could we actually increase the average level of education in Alabama by so doing?

Community/Junior College tuition per credit hour will cost $85 in spring 2010, and $90 in the fall, making the average student’s tuition $3210 per semester.

The Board members biographies and contact information may be found on the Board’s website: http://www.alsde.edu/html/boe1.asp

The Board’s members include:

• Governor Bob Riley – President;

• Joseph B. Morton – Secretary/Executive Officer;

• Dr. Mary Jane Caylor, of Huntsville, President Pro Tem, serving District 8;

• David F. Byers, Jr., of Birmingham, serving District 6;

• Gary Warren, of Haleyville, serving District 7;

• Ella B. Bell, of Montgomery, serving District 5;

• Stephanie W. Bell (no relation), of Montgomery, serving District 3;

• Betty Peters, of Dothan, serving District 2;

• Randy McKinney, of Gulf Shores, serving District 1; and

• Dr. Ethel H. Hall, of Fairfield, serving District 4.

Posted in - Did they REALLY say that? | Tagged: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a Comment »

 
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