Now the Senate has passed a bill that would allow credit card abuses, rip-offs, interest rate hikes and fee increases to continue for nine more months.

The president didn't tell you this in his town meeting or radio address. Democrats who passed this don’t want you to know this either, but it is true. The effective date of this travesty of a bill is nine months from the date of enactment. Until then, all abuses continue and probably accelerate.

When I refer to abuses, rip-offs, interest rate hikes and fee increases, I am merely using the words the president uses, and the words that Democratic and Republican supporters of this bill use.

Remember that victim the president said he wanted to help personally? Remember the horror stories of abuse told by members, one after another, on the floor of the House and Senate?

Every one of those abuses, to them, and you, and me, will continue under this bill for nine more months from the date of enactment. If the president signs it by Memorial Day, these abuses will continue in June.

These abuses will continue in July.

And August.

And September.

These abuses will continue in October.

And November.

And December.

These abuses, rip-offs, interest rate hikes and fee increases will continue next January.

And February.

When you read the self-glorifying stories our heroes will tell about how they stood up for consumers, between campaign fundraisers with banks, remember what they didn't tell you, and remember what I tell you here.

Thank you, Mr. President. Thank you, members of the House and Senate.

Ladies and gentlemen, when you receive your next change of term letters raising your rates and your fees during the next nine months, from the companies that took your money for their bailout, you will know whom to thank.

Shame, shame, shame.