Now, they are all raisig rates. Next big bust.

NABNYC—Bingo!! That is why they kept my rate the same but put it on “variable with prime rate”!!
This bill is even more useless than I had thought.

I’m sure they’ll put me up to 25% soon,and, I will hazve to file bankruptcy and lose my house…that is the next big set of foreclosures.

Another bankruptcy to medical bills…yeah, the Dems are helping alot…

The “reforms” in the credit card bill are of little assistance to consumers being crushed under the weight of 25% interest per year, plus other fees.  It’s mostly meaningless nonsense.  Can’t raise interest unless the card is a variable?  They all will be from now on.

But one of the worst provisions in this law is that they added something saying that people 18-21 cannot get a credit card unless they prove they can pay it or have their parents co-sign.  I’ll bet anything the hardest collection group is the 18-21 set, because they move all the time.  So this is a give-away to the credit card industry, to try to force parents to sign something saying they will be responsible for paying the debts of their adult, 18-21 year old children.  Don’t sign parents.  Big scam here.

Oh ... and Fred - I wouldn’t worry about your friend 30ish friend who likes Hello Kitty.  The power point slide saying that the plan is to target 10-14 year olds is clear enough isn’t it?  ... even if this campaign misses the mark somehow the point Dorgan makes is still pretty clear.

It was well put by Professor Elizabeth Warren (chairman of the TARP Oversight Committee) on Real Time With Bill Maher - of all places!

The Financial industry has moved from a model of lending to make a profit from people who can pay back principal with interest to a “trick and trap” model where they seek to lure people into purposely overly complex financial instruments which they cannot get out of without impoverishing themselves.

That would explain why compensation on Wall St and across the Financial sector has grown by multiples while everyone else has gone backwards in real terms (with - for instance - both partners working full-time to support the same lifestyle their parents had on one income).

This credit cards for kids scheme is just typical.

Well, well, well , the Dems just passed a toothless “sweeping credit card reform” bill..if you are already in debt, look for them to jack the rates up while the banks wait for this toothless bil to go into effect…

I gues they include the “armed guns into wildlife preserves” in there so you can go to the park and kill yourself when you find out it wont help you at all… wtf is THAT doing in there????!! wtf Dems??!!