Credit Card Abuses

[jreeves]

The White House said Sunday that it will back congressional efforts to clamp down on credit card abuses in an effort to address the recession's effect on Main Street.

sounds like commie bs to me.


I believe in the repiublican mantra of leaving wall street and corporate america alone, deregulating them, and letting free markets work their magic.

Of course leave it up to you, to create strawmen. How about focusing on the topic?

 

[jreeves]

The House and Senate are considering a credit card bill of rights to limit the ability of credit card companies to raise interest rates on existing balances and to require greater disclosure.

It's about fucking time.

You borrow money thinking you're borrowing at one rate, and the CC companies now have the right to jack up that rate to anything they damned well please?

Parsitic capitalism, folks.

Ought to hang the bastards and the members of congress who granted them that right, too.

And if most of you check, you'll find that in all probability YOUR favorite congressman or woman will be one of those Congressional enablers which gave them this right, too.

Just another example of how the undeclared CLASS WAR has been conducted against the American working classes for the last thirty years.

and to require greater disclosure.

In other words, its in the credit agreement, just not to Congress's liking. No credit card companies are not legally able to change rates without disclosing that in your credit agreement.