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"With defaults on credit card debt spiraling amid a global financial downturn, banks already reeling from the mortgage crisis are losing billions more from unpaid credit card bills."
Credit card issuers charge outrageous interest - some might even call it usury. They have located in states that allow the despicable practices of the issuers to occur without recourse, and with little oversight.
As far as I am concerned, bailing out banks like Capital One, HSBC and Citibank for the credit card operations will never make it into law. Credit card companies are not deserving of it.
And we would be better off without them.
If they want help, let them lower interest rate to under 10% for all their customers for the rest of eternity.
I heard about the credit card bailout and was so mad I could spit nails.
Some of these folks are spending money like it grows on trees while my hubby and I pay OUR credit card bill in full each month. We spend within our means. Do WE get anything for our hard work and responsible approach to finances. Hell NO!!!
Maybe I should go on a shopping spree and buy all those pretty things I've been drooling over for ages but passed on previously. Might as well join the masses of frivolous spenders and get the government to bail me out of a portion of my credit card bill. The 40% bailout is better than a store discount or a coupon. Dolce and Gabbana, here I come.
Looks like the only thing one gets from being responsible is self-respect. The irresponsible ones get all the goodies.
Sorry to say that I don't agree with bailing out credit card debt. Like many others I've had credit cards and worked to pay them off. I don't see why most of these people can't do the same thing.
I suppose the idea for the bail out is to save the banks and lenders. I just have no sympathy for them.
I frankly don't thnik there will be one. After thius olast bailout I don't thnk even congresss loks on it favorably.They like their jobs too mcuh and saw the last reaction and since still not popular.
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