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Do you really think the the CC companies are really that concerned about chargebacks? This goes a little bit deeper than that!
Here it is in a nutshell:
For years the CC companies have been pressuring the Fed Gov for more stringent Bankruptcy laws. On world wide standards it is fairly easy to erase your CC debt by filing bankruptcy in the US.
The CC companies were getting nowhere.
Then all of a sudden the CC companies start craking down on porn. Wow, then congress passes more stringent bankruptcy laws, just what the CC companies wanted.
It is a simple exchange, Quid Pro Quo.
The CC companies know that it will be hard for the Gov't to combat on line porn, but the "people" would support it. But if they, themerchant banks, can kill the billing companies then on line porn is gone. So they make a deal with the Gov't. They, the merchant bankers kill on line porn by cutting off their money supply (via unfair ratios that do not apply to other industries), and the Gov't gives them the bankruptcy laws they want. The bankruptcy laws the merchant banks got are more valuable to them than on line porn.
There is no doubt that the people that fucked people with bogus rebills did not help the situation, but in the overall picture there is a lot more going on.
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