April 19, 2009
Credit Card Companies = Bad!

Posted at 5:33 pm, in: Personal Responsibility, Uncategorized
Tags: Credit Cards, Obama Administration

It’s always the big bad companies extending credit that are to blame and never the people who took and used the credit:

White House economic adviser Larry Summers told NBC’s “Meet the Press” that President Obama plans to join a push planned by congressional Democrats on “credit card abuses” as part of looking out for the little guy while rebuilding the nation’s financial system.

“We need to do things to stop the marketing of credit in ways that addicts people to it,” Summers said.

Summers told moderator David Gregory that Obama is concerned about “the way people have been deceived into paying extraordinarily high rates that they wouldn’t have paid if they knew what they were getting themselves into.”

I’m so sick and tired of the Obama Adminstration blame game. It’s always the big bad companies that are responsible, and never the people. We take on these credit cards, this debt. It can’t be argued we don’t know what we’re doing. We are adults. If a person is too irresponsible to read the fine print, make late payments, or overcharge their card–leading to higher rates–it is their responsibility and their fault.

The credit card companies are pretty good at letting you know what will happen. You made a deal with them when you accepted, activated, and used the card. Just because you don’t like where it ended up, doesn’t mean the company is to blame. The American public needs to reject this rhetoric and start taking responsibility for their own actions.

UPDATE: Wait a second, if paying taxes is patriotic because it will help the government help us out of this financial crisis (that was caused and created by the government, pretty much), then wouldn’t paying higher rates on our credit cards to help the banks and lenders out of the current financial crisis be patriotic, too? It’s just a thought.