Edited on Tue Oct-14-08 11:00 AM by TwoSparkles
...on the rise of credit cards?
The laws were relaxed and changed---at the insistence of the credit-card companies--who used lobbyists to pressure lawmakers.
Lawmakers gleefully passed legislation that enabled the credit-card companies to making billions off of the American people--by completely ripping them off.
It is the law of the land---that credit-card companies can raise your interest rates at will. They can suddenly demand that you make $500 payments if they want. They can charge you $70 late fees while only giving you 48 hours to pay your bill. The credit card companies have us by the nose hairs.
It has been designed this way. This is no accident.
Congress allowed all of this to happen to the American people. It's the same deal with the banks and the mortgage companies. The laws were changed, and this allowed banks to lend to people who were unqualified and had no business borrowing the dollars they did.
This is not some major, "Oh noes!! What has happened to our economy!??"
Congress and the corporations orchestrated the entire mess we are seeing now.
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