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Friday, October 23, 2015

Russell Simmons - Fool Turned Fraudster

Russell Simmons is head of RushCard, a debit card for poor struggling people who can't get traditional bank accounts. You can make direct deposits, even put your tax refund on it. The fees are about the same as banks; $9.95 per month, an activation fee of $3.95 to $14.95 (depending on which card you choose), and  $2.50  every time you hit the ATM.

The difference is, for the past 11 days, the cards haven't been working due to a "glitch." RushCard customers who had their paychecks put on the card can't get their money. So they have been going without food, not paying their bills (which will cost them additional late fees from whoever they owe money to). The company claims it is having technical problems. I could believe that excuse for 1 day, but 11? Something is off, smells like fraud brewing to me.

Why do the rich exploit the poor so much? Because they can. Because they only know how good it feels to see their bank accounts grow and not the pain of the people they stepped on to make it grow. 

Russell, go to Twitter and read what your customers, the folks who paid for your lifestyle, are going through because your company is not letting them access their money. Read about the sleepless nights, the lack of food, the lights getting turned off. Do you care? Or just worried about how much you are going to get sued for?

Lawyers are already trying to put together a class action. Unfortunately, only the lawyers will win. Simmons will pay an expensive lawyer to get him out of trouble, the class action lawyers will make money, and each of the people screwed will probably end up with an extra $4.23 from the class action.

Russell Simmons, fool turned fraudster, will only lose his reputation for a short while due to this mess. He will find someone new to exploit, the poor will stay poor, and the lawyers will be the only winners of this mess. I need to go puke now, the world is making me sick again.

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