Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Where the GIT's are going -- Ignore unavailable to you. Want to Upgrade?

To: Oral Roberts who wrote (128819)	12/28/2006 1:44:04 PM
From: PatiBob	Read Replies (3) \| Respond to of 225578

Wasn't it Carter that gave the credit card companies carte blanc with regards to interest rates?

To: Oral Roberts who wrote (128819)	12/28/2006 2:18:11 PM
From: Augustus Gloop	Read Replies (2) \| Respond to of 225578

Carter was not a good leader. He was a good person. He committed political suicide by not printing money and racking up more debt. I don't agree with Carter and his statements now. I think he's wrong. But Ford and Carter were the last presidents to commit political suicide for what they believed was the good of the country. The highest Rates we experienced I believe came in 1981 under Reagan. As far as credit cards go - I don't like the interest they charge. I think the banks behind them are extending too much credit to people that shouldn't have them. The banks are making a mistake. That said, its not there fault that people use them the way they do. What is the banks fault is extending credit to those they normally wouldn't loan money to. Another factor in this is that a person can no longer declare bankruptcy and get out of their credit card debt. On the surface that sounds fair...I don't want deadbeats to get away with not paying their bills. But there's another issue and that is banks now have limited risk in sending out offers to everyone with 10k limits. They're getting away with not having to do their due diligence on who they make these offers to. They just carpet bomb by zip code. Thats not good and its not right. The reason they do this is because their risk has been limited by a bill that was passed under Bush. Banks have a responsibility to make better decisions about who they extend credit to. But with limited risk and liability they no longer have to do their homework - thats wrong. I'm not saying you have to agree with me on every detail but I think I make some very valid points