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Apr 24, 2009, 10:24 PM // 22:24
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#1 |
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Lion's Arch Merchant
Join Date: Dec 2008
Location: Between J&K spending time at the spacebar
Guild: Insert here
Profession: A/D
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What's your perspective on the world of business?
Recently, Obama had a conference with all the credit card companies discussing on the schemes that those companies on trying to get money. They were getting your money by switching the due dates, playing with due in the morning than at night, trying to make you pay more money.
Well anyways Obama wants to make a credit card bill of rights. What do you guys think of that? |
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Apr 24, 2009, 11:35 PM // 23:35
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#2 |
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Desert Nomad
Join Date: Jan 2009
Profession: N/
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I think, that at 35 years of age, I have payed 100% of every credit card bill upon receipt. Don't buy what you can't afford......at least at the end of the month.
As for people with CC debt, and insane interest rates.......not much sympathy here. That said, CC companies are legalized loan sharks, and the term 'predatory lending' certainly applies. If it takes an act of the President to reign them in, I'm all for that. |
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Apr 25, 2009, 12:13 AM // 00:13
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#3 |
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Wark!!!
Join Date: May 2005
Location: Florida
Profession: W/
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I think Obama is planning to use it as a way to take over the credit card industry eventually (2nd term if he gets one). They'll probably make it so that the CC companies would have to lend out money and make it more difficult for them to raise rates or collect payments or lend money to people who can't pay them back. It'll end up with one or two of them getting into financial trouble and the government will then move in to take them over. First they'll take preferred stock to get something back "for the taxpayer", then they'll force the companies to give them common stock.
Somehow, all that sounds familiar. |
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