Mastercard And Visa Are (In) The House Poem by Joe Rosochacki

Credit Cards are Big (losers) business,
The major banks are banking on business,
The big casino, in the world, is Mastercard and Visa, they are the house,
Houses thrive on business.
The “free” money, (Chase’s add featuring The Rolling Stone’s song Free)
Nothing is for free, the interest rates are anywhere from 6 to 14 points,
Above the prime interest rate.
There are laws in the books regarding usury,
Not so with the banks that would issue the credit cards.
They will issue credit cards to dead people, fictitious people, kids, even pets.
The credit card banks APR if you factor in late fees can reach as high as 35%.
Usury laws are set at anything exceeding 25%.
Not only did we see that, we saw,
Somehow the banks bought the politicians off to exempt from this law.
The banks not only charge the customer the interest,
They also charge the vendor a premium of 3-5%.
They are banking on business.
The sub-prime fiasco that’s occurring now affects the balances,
I personally had three cards that carried $3,000,
The banks increased the cards to $37,000,
I only made $25,000 a year it, as though they used credit,
As drug dealer would deal his drugs, to get you hooked.
Hooked like worn curtains and worn out valances.
The credit card “manufacturers” complained to congress,
Congressional forces would yield thus revising the Bankruptcy law,
Mostly Chapter 13,
President Bush signed it.
What about Usury?
ATM machines are scattered everywhere in Las Vegas.
People use credit cards to make a wager, eventually the house wins,
I am not talking about MGM, Ceasar’s Palace, Harrah’s Casinos,
I am talking about Chase, Bank of America, Citibank Casino’s.

(12-24-2007)