new credit card rules? heard it on the news!

[Cameron]

If anyone had kept the actual long term of the business in mind, the housing bubble never would have happened. Most bubbles probably wouldn't happen. Maybe.

If the Clinton administration hadn't expanded the scope of the Carter administration's ill-conceived Community Reinvestment Act in 1995 then we wouldn't have had the housing bubble. It is amazing to me that so many people believe it was the bank's greed the precipitated the mortgage backed securities collapse. Politicians blame the banks greed when they passed legislation mandating that the lenders make bad loans, and sued them when they didn't.

If you dig deep enough into any market "crisis" or lack of competition, you will find the hand of the government throwing a wrench into the cogs of the market.

Cameron

[Irving]

Yes, that is very very true.

[SA Friday]

I too have no credit cards. They skirt the edge of loan sharking laws, but this gets overlooked as they are legitimate companies. Their terms are unacceptable IMO. There are honest loans and then loans with explosives attached under the surface.

I just don't know enough about the act (other than it's the same act that now allows all of us to carry in national parks if legal in the state) to comment on it's validity. I agree with the sentiment of the act in this case.

The pendulum swings... Regardless of your political stance, there is good and bad in both approaches. If there wasn't there wouldn't be a need for both Govt and the political parties (that should stir the pot...).

[cowboykjohnson]

I have one credit card that I pay off at the end of the month. I cant get myself to buy anything I don't have the cash for, it seems illogical to me.

[coop68]

I have one credit card that I pay off at the end of the month. I cant get myself to buy anything I don't have the cash for, it seems illogical to me.

That is where i am as well i only have one card that i dont spend more than what i have and i pay it off in full every month. not to many college students do this they get cought in only paying the min!