NEW BEGINNINGS PATRIOT CARD

NEW BEGINNINGS PATRIOT CARD

Proposal for the re-build of the American Economy
No sales pitch – there is nothing in it for me except a strong country.
New Beginnings Patriot Card offered by your community banks

We can’t wait for the Wall Street financials to succeed or fail. The community banks have avoided much of the destructive nonsense of predatory loans and C.D.O’s and so forth. This country will be re-built person by person and community by community. What is good medicine for those giants that are too big to exist may very well severely hold us back. They forgot that they are nothing but an empty building without our money in it. 70% of this economy is still based on consumer ability which used to be termed consumer confidence. The consumer needs to have the money and be inspired to spend and deposit with and through a bank that they trust. We need to establish long term personal relationships with a banker just like we did before. Please make it happen.

Proposal: New Beginnings Credit Card

$100.00 deposit will get card holder $200.00 worth of credit

$1.00 will be charged per swipe to create a pool of money in each community to make loans for the creation of jobs to local businesses and propagate new business.

Credit rating will be a clean slate and held INSIDE THE NETWORK OF COMMUNITY BANKS TRANSACTIONS ONLY … RELEASE OF THIS RECORD WILL BE BY WRITTEN REQUEST OF CARD HOLDER ONLY….

Credit rating agencies have been seriously remiss in reporting the truth causing a state of indentured servitude by lies creating elevated interest rates and ewakened ability to support our economy. Now after all of the foreclosures and job loss are we sure we are willing to destroy our future customer base to buy houses, cars, college, home improvement and facilitate intelligent loans? With all of this job loss? The foreclosures? Really?

THIS NEW START IS INCENTIVE ENOUGH FOR PEOPLE TO PITCH IN $1.00 PER SWIPE! REALLY!

Interest rate will be 7% across the board. Right now banks are getting the money at 0-1/4% or 25 basis points. That is almost a 7% return to the bank PLUS THE FREE MONEY O FTHE $1.00 PER SWIPE! The bank then receives the interest paid on the loans made for job creation with this free money a growing customer base. The new jobs strengthen the economy and create more deposits and depositors for the community banks. Why will people choose community banks? Trust. Both ways…. Again.

Plus the banks will have the $100.00 per card deposited in non-interest bearing account which will help the balance sheets.

Plus the banks will secure a future income from the loans made for cars, house, etc.

THINK ABOUT THIS!

3 late payments would be allowed (without extraordinary circumstances) per twelve month billing cycle before the card is canceled.

NO interest charged on late fees or over limit fees. If the bank would so choose to go over the limit, set a flat fee of $5.00 and require payment in full to bring back down below the $200.00 mark. Once again three infractions in any 12 month period would cause cancellation.

A ceiling of 2% over the cost of obtaining money at prime rate from the federal reserve with a finish clause at 12% where the card holder can close the account without further changes and continue to pay the balance status quo.

The competition will then be which communities can create the largest funds for new job creation from current and future businesses in their area. Everyone will do the work and everyone will benefit. EVERYONE!

Stop extorting funds from non-customers. People do realize that it is extortion to charge a fee for personally cashing a check written to them by a customer of your bank just to get the money that is due to them! THEY KNOW! Think about a 12 year old boy, presenting a check from an elderly customer he earned for cleaning her basement. Oops. He doesn’t have an account with your bank but the person who wrote the check does. HOW MUCH WILL HE BE CHARGED? IT IS LEGAL TENDER! IT IS WHAT YOU AGREED TO DO! IT IS WHAT YOU ARE ALREADY PAYING A TELLER TO DO! DO YOU REALIZE THE LOYALTY OF CUSTOMERS AND FUTURE CUSTOMERS OF YOUR COMMUNITY TO COME OUT AND CONDEMN THIS PRACTICE?

Somebody is going to “get it”. Just like the community banks “got it” that stupid, stupid games being played on Wall Street were going to be destructive to someone at some time. As we see, it is all of us and the time is now.

The time is now to re-build this country. We could wait forever for Washington and Wall Street to figure it out. The longer we wait to start the recovery the worse it is going to get. There is NO STAGNANT ZONE! NONE! It seems they are so blinded by their own greed and foolishness and the dumping of sound business and banking principles that this process could take forever or even get much, much worse before it gets better.

Are we going to wait until these big banks sitting on all of their foreclosed properties and sell them off? When they actually put these on their balance sheets at the new and declined market value or the sell prices of foreclosures are we going to see profound weakness in the financials again? Are they waiting for “mark to market” to stop? Even if it looks better on paper is the loss really still there only to blow up in our faces at a later date? Why are we willing to wait? Side step and move upward and onward. The whole country will benefit. Try….

Sincerely (really!)

C.C. Forche