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Showing posts with label little guy. Show all posts
Showing posts with label little guy. Show all posts

Aug 10, 2013

Little Guy Wins One

And he may be set to win another one - big


The wild west atmosphere in Russia since the USSR fell apart, has pointed up some of the worst examples of Unfettered Market Capitalism.  But 2 days ago, we learned that a little pluck and imagination - plus a pair of brass balls - just might get you a shot at some payback.

From Business Insider:
In 2008, Dmitry Agarkov received an unsolicited letter from Tinkoff Credit Systems (TCS) offering the 42-year-old Russian man a credit card with what he found to be unattractive rates.

While most people would have just thrown away the letter, Agarkov decided to do something different. He scanned the contract in the letter into his computer and altered it in his favor, including, for example, a 0% interest rate, no fees, and no credit limit. Moreover, every time the bank didn't stick to these rules, they'd be fined 3 million rubles — $91,000 — which of course would go to Agarkov. If they broke the contract, they'd have to pay Agarkov 6 million rubles ($182,000).
Agarkov's altered contract was, surprisingly, accepted and he received a credit card. "The Bank confirmed its agreement to the client's terms and sent him a credit card and a copy of the approved application form," Agarkov's lawyer Dmitry Mikhalevich told Kommersant this week.
I'll be kicking myself for a while for not thinking of this one.