Credit-card reforms passed by Senate, needs House approval

One canMay 20th, 2009 - 21:53:04

sure tell when the Republicant's are no longer in power, good things actually happen to the common man not just to the corporate types. Great bill to help people who are already struggling to make ends meet.

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Obama vs ConstitutionMay 20th, 2009 - 22:24:37

Obama Decides what Credit Card Companies Can and Cannot Do May 9th, 2009

By: Michael van der Galien

h**p://www.poligazette.com/2009/05/09/obama-decides-what-credit-card-co mpanies-can-and-cannot-do/

President Barack Obama continues to intervene in the market: today, the New York Times reports that the most liberal president America has ever had wants Congress to stop credit card companies from from important late fees.

Saying that he is focusing on “clearing away the wreckage of this recession,” Mr. Obama focused his weekly radio address on the credit card legislation in Congress.

“Americans know that they have a responsibility to live within their means and pay what they owe,” Mr. Obama said. “But they also have a right to not get ripped off by the sudden rate hikes, unfair penalties and hidden fees that have become all too common to our credit card industry.”

Well, actually, there is no such “right.” They sign a contract with a credit card companies and, when they do so, they accept its rules and conditions.

In fact, if we talk about “rights,” we only have to take a short look at the Constitution to see that Congress does not have the right to dictate terms to credit card companies. It does not have authority to do so.

As if that is not bad enough, Obama also lies about Americans knowing they have to live within their means and pay what they owe. They do not. They have to learn the hard way, I am afraid. Bailing them out by punishing credit card companies for enforcing their rules / contracts teaches them that they can agree to borrow money against a high interest rate, because they will not have to pay the interest - the government which protects them against the consequences of their own actions will see to that.

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Obama vs Constitution saysMay 21st, 2009 - 04:11:48

'we only have to take a short look at the Constitution to see that Congress does not have the right'

Maybe 'we' should take a long, hard look at the constitution before opening one's mouth.

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The illogician saysMay 21st, 2009 - 04:19:08

'Obama also lies about Americans knowing they have to live within their means and pay what they owe. They do not. They have to learn the hard way, I am afraid.'
A) 'Lies' according to whom, and by what authority does this person say he lies?
B) If Americans are already knowing, then the rest is nonsensical. There is no further learning to be done.
What needs to be done is that those greedy money lenders in the Temple need to be reigned in. They are the root cause of the current economic woes, not the average American. They are the designers, plotters and marketers of the programs that were sold to the public. They saw a way to increase their take of their addiction (money)and they went for it. Controls are needed on these modern day pirates.

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nice link, moronMay 21st, 2009 - 04:36:32

it's dead. As in: doesn't exist. Got any more?

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