All of the politicians are busy getting their political soundbites in over the uproar with credit card companies raising interest rates ahead of the new credit card legislation going into effect. My favorite soundbite is to hear how outraged they are about the practices of the credit card companies. Where was the outrage years ago? This is nothing new. They are doing the same thing that they always have. Where was the outrage about 4 or 5 months ago? These aggressive and abusive practices started a long time ago.

The latest is from one of my favorite politicians Harry Reid. Harry started in politics back in 1966 (the year I was born) and has been a Senator over 22 years. If there were ever a reason for term limits, he would be the reason. He is the latest politician to rant and rave and be outraged in front of the cameras. After all, he needs to do something besides getting billions of dollars of stimulus dollars for Nevada to get re-elected. Here was the news clip:

Senator Harry Reid wants to protect credit card holders in Nevada from what he calls ‘outrageous increases’ on rates.

He wants to act before new legislation takes effect next February. “What these credit card companies have done is circumvented the system. They’re raising these rates now because the rules don’t come in for a few more months. They’re trying to raise all rates right now.” Sen. Reid wants to freeze interest rates before the Credit Card Act takes effect which will protect consumers.

Boy, Harry I feel the outrage. Give credit card companies 9 months and they take advantage of the system. Who would have ever seen that coming? I can see how you would speak out just a few months before the laws go into effect. It wouldn’t have made sense to speak out, I don’t know, years ago when you were taking political contributions from those outrageous credit card companies. The best part of it is that they do these political soundbites because they actually think the American people are stupid enough to watch them and feel like their senator is actually doing their job.

Can we just get to the heart of the problem and fire these guys? This is the message Janet Folger is sending to Congress. I interviewed Janet on my show Tuesday. She has organized a faith based initiative where anyone can send a pink slip individually to all 535 politicians in Washington at once. The message is that they work for us and if they pass any of these irresponsible pieces of legislation, they are not going to get re-elected next year and will be fired. Thus far 4.5 million pink slips have been sent. For more information, go to www.sendcongressapinkslip.com.

Way to go Janet!

Tags: Bob Brooks, Credit CARD act, Credit Card Companies, Harry Reid, Janet Folger, pink slips, politicians