Obama to meet with credit card execs, make his case - Yahoo! Finance=
This sort of thing really makes my blood boil.... So now the govt is going to step in and tell a private business what they are allowed to charge for their services?
Last time I checked, no one has forced anyone to get a credit card, and if you do have a credit card and pay it off in full every month, then the interest rates become irrelavent anyway. Why does the govt get to tell any business what they get to charge for their products or services?
This is yet another example of how the so called "Nanny state" gets created. It takes the premise that left to their own thoughts, most people will screw up their lives. And you know what... even if that is true... is this the way to make it any better? Rather than mandate limits on the fees a credit card company can charge, would it not be a better use of tax payer money to create school education programs on the subject? Why not educate our children about the problems of credit card debt etc? Would this not be a better way to stop the problem at it's source?
Just my thoughts... some may agree... others... not so much...
This sort of thing really makes my blood boil.... So now the govt is going to step in and tell a private business what they are allowed to charge for their services?
Last time I checked, no one has forced anyone to get a credit card, and if you do have a credit card and pay it off in full every month, then the interest rates become irrelavent anyway. Why does the govt get to tell any business what they get to charge for their products or services?
This is yet another example of how the so called "Nanny state" gets created. It takes the premise that left to their own thoughts, most people will screw up their lives. And you know what... even if that is true... is this the way to make it any better? Rather than mandate limits on the fees a credit card company can charge, would it not be a better use of tax payer money to create school education programs on the subject? Why not educate our children about the problems of credit card debt etc? Would this not be a better way to stop the problem at it's source?
Just my thoughts... some may agree... others... not so much...