Thursday, October 12, 2006

But, the Alleged Crimes Have Already Been Committed (

While Visa's® proposed restructuring changes may be a remedy to temper future liabilities, the alleged crimes have already been committed.

What they are scheming reminds us of two mischievous adolescents. You know the scenario; the older, much bigger brother uses the younger sibling to test the waters. If he doesn't get caught, then the older teen pounces. The same banks which controlled MasterCard® and Visa did just that several months ago. They tested the waters with MasterCard's IPO and now they are plotting for the much bigger brother to follow.

Just as with MasterCard, the plans for a new entity called Visa, Inc. will not insulate the nearly identical group of member banks. Instead, it draws more convincing proof that the two card associations got caught with their hands in the cookie jar and are rushing to slam the lid on without getting caught again. We are talking billions and billions of dollars and years of transgressions, yet the bank-controlled cartel thinks that the legal damages from our charges of antitrust violations and illegal price-fixing will be softened and diverted.

The pages of dire Risk Factors that will be published within Visa, Inc's offering documents will explain all this in detail.