Steve Syre

What we're pushing Steve starting your mind and replacing division everywhere with a vision of Carrie -- in a network that it thinks that -- to -- you got that that's good journalism that's what I call with us -- like always no lights on his service and high net and that that will serve his longevity of that although I suspect -- But I think it's that we go to Steve's site from the Boston Globe because it's Sampras to do the -- the business report which we do each day. At this time. And up it is brought Dubai SP allies savings bank life insurance is the no nonsense like insurance company good morning Steve's site ally today. -- On that's what radio -- Aaron I feed radio bodies I don't know how bad have you actually seen those implants of copper mom and -- out. He's -- married me and you don't ask the question you're married Manning you've been and I told you you've been -- in the imaginary fun old Hannah I. Well -- you're doing it at work red light goes -- or your -- Really you have one of those still -- we don't have the red -- we have the voice. I don't warning warning echoes it doesn't seem to mind care persians implants -- Doesn't respond I didn't even know Todd broke my hat today when he sent -- idea should pick they have implants on the unique they're the universe miss universe or whatever business contest in a contest it. Pay that's why would you have why would you fool around -- mother nature mother nature and can give us a creature perfection. It's it's certainly is his biggest disappointments are allowed motion that is a disappointment. You eluded us to a story on credit Katz was talked about this a little bit before wait Steve I just want to give you issue. Or warning a -- on time is talking a while texting. It but he is holding his Blackberry in his right hand his son is gone wild while he's asking you questions so watch out now my job and they're could be a he might not stop. There could be a collision here but depth credit -- back in the news -- you know our president has been making noises and uttering though. Threats what is going on with credit cuts because I think I'll allow listeners have some some concerns about those things.

Well it would during the break you'd want your favorite senators Chris Dodd was at the audio on there. Talking about how he's pushing this -- and it would take all the credit card holder's bill of rights is is already been passed through the house by a very large majority and Obama is out there -- stomping all over produced by the way going to be at a town hall later this week in credit cards going to be a big subject there. And this bill is going through the Senate right now it's been. Worked on all week and it may or may not get a vote this week but it'll get a vote very soon and I everybody fully expects that it's going to pass and it has been of form that's pretty close to the house so in terms of reconciliation I don't think that's going to be a big deal but.

And that's an underlying note going through what does this mean what is it what kind of ride this is taken folks on.

Well I think it's mostly good stop it it. Addresses some of the worst problems in the credit card business. There weren't there was some that the issue about jacking up your rates so much when when you miss a -- that's a minute you get behind or sometimes even when you don't. Get behind and at one time. There was an effort to say well -- previous balances you can't increase. The -- interest rate and eventually they relented and said. You know you can't do it right away it's 45 or sixty days but this idea of just sort of getting smacked on top of their head with a radically higher interest rate. Is going to be addressed. One of the most pernicious practices that some credit card companies not all of this thing called double cycle billing where. They essentially don't charge you -- this month's. Balance but sort of average the past two months. Where if you've been paying down your ability to be paying interest on credit that you already paid off. That would be prohibited. It also. Attacks this idea really very aggressive credit card marketing at younger people under 21. If it does a few other things that are sort of consumer protection orient it also if you ever that you know being. Everybody's been papered in the last six months with these you know fine print things he got to -- with a magnifying glass from your bank about. How they're changing the terms of your credit card is gonna be a lot more plain English in terms of understanding what's going on there aren't in that a lot of stuff as buried in the fine.

I -- over the credit card companies are like the wild west. Are you just turn the corner I and you never know -- they're gonna be standing there with a six gun already drawn opt opt opt out there look at the yeah yeah return home.

Right now in the Senate bill was of the bankers last stand and erupt they're moaning about how. You know if you do it is you know credit won't be of credit you know it will be more expensive blah blah blah. You know but but they're dead in the water.

I do have one concern you if this bill were to seriously make it more expensive. For the banks to operate you'd be in inject more losses into the banking system that we're now supporting then you have the government paying them. To have different policies on their credit cards from.

Well I don't -- because he's given us some blame the initial losses is the alternative I don't think that. That such a good deal either I think most of the things that that these bills they're constructed. Address our I think. Pretty reasonable practices in the idea that eliminating these are going to -- you know create a big losses that that the government is going to have to. Underwrite or -- won't again somehow is. I don't see that happening you know if you look at. Part of what. The big problems are right here this the bank stressed that they came out last week it was a an element of that it's said well. You know it all these bad things happening in the economy what happens to banks -- up. This could happen that could happen and they looked at credit cards so. And you know that that -- was pretty bad there and -- says well you know I think it was another. Yeah -- something billion dollars. Their credit -- Business at that point. Some of them but not all of have really big visible over the next two years how much -- these companies. Credit card balances could default and -- always talk about. American Express Capital One big cart companies that I -- 20%. Bank of America Citigroup. JPMorgan Chase over 20% -- 23% so I mean. These big credit card issuers have issued a lot of -- that they have to deal with and you know. Frankly that's their problem and I don't think you know changing the rules and growing everybody else along the way -- is is the way to deal with.

Ari can I ask you some gorilla in have to think on top do you think that it was a good decision on the part of Donald Trump. Not to fire -- pristine and how do you feel this affects the integrity of the miss USA contest moving forward.

I often worry about the intent.

Hot hot -- hot -- we were. I am telling -- paying no attention you can and plus two minutes because Kerry Fraser in multiple centerfold shots -- on the TV -- not because the number one news show in the country. Today show up is covering the most critical storage -- you yeah and it.