Obama: Feds Should Protect Americans From Personal Responsibility

[Aught Six]

Obama hits McCain, credit card companies, on lending matters

He would bar credit card companies from raising interest rates without the borrower's approval and from applying higher rates retroactively; establish a federal credit card rating system; and bar interest charges on items such as late fees.

[F3d]

He's trying to offer everyone something. He got that from Vallejo CA.

[kevin1]

And what other aspects of American life is this socialist azzhole prepared to micromanage?

[ipscshooter]

Democrat Barack Obama called for tighter restrictions on credit card companies Wednesday and accused Republican presidential rival John McCain of doing too little to help Americans avoid crippling debts.

There's a really simple way for Americans to avoid crippling debts, that doesn't involve getting bailed out by the government at taxpayer expense.... Don't borrow money that you can't afford to pay back. To bad there are so many people who are too pathetically stupid to understand this rather simple concept.

As a result, banks have to write off bad debts... and charge those of us who pay our debts higher interest rates in order to compensate for losses caused by pissants who don't pay.