Unless you live in NYC. Then it means you’re banking in Jersey.

Next big BAIL OUT THE PREDATORS!

In line for BAIL OUTS; Las Vegas Casinos. After all they let their employees out/off to vote in the causes for Obama. I predict they will get it. ROLL THE DICE WITH THE TAX PAYER MONEY!

Barack Obama “talked the populist talk” last night, lumping in credit card companies as targets of his economic rescue plans. But, in his first year in the U.S. Senate, Sen. Obama voted “Nay” on the Dayton Amendment to the 2005 bankruptcy bill that would freeze credit card interest rates at no higher than 30%. Obama sided with credit card companies over our nation’s bedrock middle-class families as well as young adults susceptible to the companies’ alluring, deceptive marketing.
http://www.mydd.com/story/2008/1/16/14853/9001
………..
The blame on the consumer is utterly ridiculous. They just try to do highway robbery with government approval. I canceled on such credit card when the rate went above what I signed up for. When I asked why the rate hike they said I was late? Really I said, I always pay on time? I asked for the records and them ‘Blush’, they said it was a day late?!? Why, because of their delay in processing. I quickly canceled it.

BTW: use aks.com if you want to find such articles above as google has hidden them all.

As through this world I wandered,
I’ve known lots of funny men–
Some will rob you with a six-gun,
And some with a fountain pen . . .

Woody Guthrie
“Pretty Boy Floyd”

“If you feel comfortable being taken advantage of by greedy, corrupt lenders, thats your right & privilege.”

It’s not actually my right nor privilege here– there are fewer lending choices available because someone, at some point, has decided what is ‘too high’ an APR for me to be able to understand.

“If you feel comfortable being taken advantage of by greedy, corrupt lenders, thats your right & privilege.”

If you do mean that, then we’re on the same page. It’s not pretty, but people should be able to freely enter into arrangements as they see fit, and be held responsible for their contracts.

My frustration in most cases revolves around the idea that people are too dumb to be expected to voluntarily enter into contracts. If that’s the case, there are a lot more serious problems than a bad APR.

And I don’t resent any company crying for bailout. What I resent is a government enabled to arbitrarily create a bailout with my taxes. If they’re handing out money, a company would be derelict not to go for some of it.

the world is a paradise if not for control……..happiest of holidays……may this next year improve or were deeper in hell

If the government gets out of education then religious principles can be taught and learning would be required.

Morgan has a point, we all knowingly enter into these agreements. We should know what the interest rate is. And as long as there is FULL disclosure, if you choose to take credit from those institutions 70% that is your problem.

I’m not trying to beat up on people, cause I’ve been there (not at 70% nor 30%, but close enough) and I just had to deal with it.

There does have to be a certain amount of personal responsibility. Although, hopefully after this debacle, enough people will have their slates wiped clean and can restart with a better financial out look. Now if government can only do that….

Now I know that many Mexicans working illegally in this country send a good percentage of their wages home to Mexico to help support family. It makes me wonder what percentage of those wages earned in the USA are sent home to Mexico to pay off credit card debt from Mexican banks.