I don’t know what to do with them all. Hit the link. Drink in the stupidity.
Credit Cardholders Bill of Rights
House Financial Institutions and Consumer Credit Subcommittee Chairwoman Carolyn B. Maloney (D-NY) today introduced the “Credit Cardholders’ Bill of Rights Act of 2008†(H.R. 5244), comprehensive credit card reform legislation aimed at leveling the playing field between credit card companies and consumers. The balanced bill abolishes major industry abuses that unfairly hurt consumers while fostering fair competition and free market values.
Blah, blah, blah.
I don’t have a right to a credit card, so why would I need a Bill of Rights if I voluntarily enter into a partnership with a credit card company? Can’t I just pay off the card and cancel the partnership if I don’t like the interest rate increases or the fees?
Sponsored by Caroline Maloney (D-Idiotland)
Of course, this bill was sponsored by a Democrat. The party and its members want to give me a Cardholders Bill of Rights, but curiously ignore the one used to bedrock this nation.
Once again, those in government think we’re too stupid to take care of ourselves.
Stupidity should be painful.
The problem is that there are a lot of anti-business practices that the credit card industry pulls in addition to whatever this bill does on behalf of consumers. There’s definitely plenty of Republican lawmakers interested in some credit card company reform because of their interchange fees placed on all transactions that are tantamount to price fixing. I’ve done some work with unfaircreditcardfees.com and if the credit card industry is pulling anti-free market practices – then I absolutely believe that Congress should do something.