Infinite Debt

Harper's magazine writer, Thomas Geoghagan, talks truth, or at least the truth as I know it. Just last week I called a creditor who charged me a late surcharge. My bill $9.95; the surcharge $29.95. If I am correct their mail back time from receipt of the bill was under 7 days.

I blew my stack and demanded that they remove this charge.

After all, would I, their user, neglect to pay $9.95 on a $9,000 credit line because I was negligent, remiss or a credit scoffer. I believe I actually threatened them with a suit or a reprimand from some authority or another.

In the same week, my primary banker, one of those seeking government bail-outs, offered me an immediate $5,000. loan--no credit check. All I'd have to do is walk into their representative's office (they don't have local branches in my community) and pick up the cheque.

And as funny things are often not always self-evident, my primary bank owns the credit card company--something I've always suspected but only had confirmed during this conversation.

Irony in the world of banking!