clecrupt9
join:2002-01-22
GA
| reply to JPCass
Re: Spitzer is THE MAN.
said by JPCass  : said by garmst :Spitzer didn't go after Norvergence, he went after the finance companies that loaned the customers the money to buy the equipment. Spitzer went after an innocent party who had nothing to do with the crime. Finance companies have some duty, if only to themselves and their shareholders, to be sure that they are not involved in unconscionable transactions that amongst other liabilities run a higher risk of default. Thats right- What higher risk can you have than doing business with a company that can attract a State AG on your tail.
But you know, everyday there is a big financial institution in trouble over something. |
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garmst
join:2000-09-17
New York, NY
| The risk for banks is irresponsible people who make bad financial decisions, will not take responsibility for them and call upon a thug with the power of government to make them whole at an innocent parties expense.
Maybe the banks will have to "redline screen" for deadbeat, crybaby customers and not lend money to them. |
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jerr123
| Where you are missing the point is that Norvergence sold the consumer a "total solution" that guaranteed a cost savings. The "package" could not be bought unless the consumer rented the "Matrix" box. The consumer was not leasing the box for a period of time at the end of which he would own it. This was not a leasing arrangement. Norvergence perpetrated this scam on the leasing companies as well as the end user. The leasing companies recourse is to go after Norvergence and not try to recoup their loss from the consumer. The consumer has a right to stop their payments if they are not getting the "total solution" promised them. |
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JoshNJ
Premium
join:2001-12-25
Freehold, NJ
1 edit | said by jerr123:
The consumer has a right to stop their payments if they are not getting the "total solution" promised them.
no they don't, if the money is laid out by the bank and not norvergence, the customer needs to follow by what they agreed to pay. the bank didn't scam anyone.
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I support the RIAA |
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