Back in April the President decided that it was a horrible, horrible thing that the Credit Card Companies could Possibly have high rates and fees for different types of customers. $35 for a late fee! That's NOT FAIR!!! Well in May, the Senate, hoping that they could distract the public from real news, passed a bill restricting the kinds, and amounts of fees that the Credit Card companies could charge.
Everyone outside the Beltway, and/or in possession of more than two brain cells to rub together, warned of the "long tail" of that action and the fallout that it would cause; and urged The People to tell as many friends and family, as well as the Senate to vote NO! Well, one of the biggest stories in today's news -- If your rates haven't increased yet, they're about to. Sometimes I just wish people would pay some freaking attention. Also, not letting Senators serve past the age of 65, not letting them leave D.C., and keeping them away from mainstream media and lobbyists would help. Because when Senator Dodd is allowed to say something like:
"This is a victory for every American consumer who has ever suffered at the hands of a credit card company,"
you have to worry. Suffered At The Hands...? If a credit card company forced people to use their services, sure, I may fall for that crap. Besides, if anyone bothered to Read The Freaking Contract that they signed, they would know from the beginning that credit card companies are evil.