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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Oblomov who wrote (81522)	5/7/2007 12:29:10 PM
From: kathtoo	Read Replies (2) \| Respond to of 110194

Hard cases make bad laws and this is especially true in regards to striking down the federal cap on interest rates. The lenders have been irresponsible in granting credit to customers (my 20 year old gets several offers per week and has no income)and then they jack up the rate when someone misses a payment or are late (which at some point is most people). At 34% interest regular joe is hooked on these exorbitant rates, never able to pay down principal. It happened to us on one card, but we were able to pay it off right away. Closed the account too. I guess we're "deadbeats." People that are bad credit risks shouldn't be granted credit. And so called "reputable" lenders are anything but. Same with insurance companies in my opinion. I agree with you in regards to universities charging more and more tuition. It's out of hand (and if its not tuition, then they're getting it on housing).