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What type of consumer protection should the government have in place concerning credit cards?

Thursday

It seems to me like the interest rates that they charge are absolutely unbelievable. Especially when they slip it past someone on page 28 of their "rights" package.

However, I wonder about the public's lack of financial education and how much responsibilty a person has to take for their own actions.

I'm taking an economics course now and it seems like, when reading the basics of capitalism, that a lot of it really seems to depend on consumer's being rather, frankly, dumb.

Does the Government have a place in "protecting" people, or is this really an example of "buyer beware"?

I don't believe the government has a place in protecting people from themselves. You can't be free if you aren't free to make mistakes.

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  1. Sicilian
    May 15th, 2009 at 02:19 | #1
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    I don't believe the government has a place in protecting people from themselves. You can't be free if you aren't free to make mistakes.
    References :

  2. robert w
    May 15th, 2009 at 02:51 | #2
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    government that governs best is one that governs least.
    the larger government is the more communism/dictatorship it becomes.

    understand capitalism is a system where those who do the work get paid .
    the present system is slipping in to socialism every year with major Plantation welfare mindset.

    lack of 'education' is not a birthright but a choice.
    most people choose debt over wealth it is to them easier.
    the more government you inject into peoples lives the less backbone they have bred into them.

    some 80% of millionaire created every year in usa came from middle class or less incomes.

    P.C. nueters most people.
    References :
    ex street bum, biz owner now.

  3. Diane A
    May 15th, 2009 at 03:00 | #3
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    I don't think the government has any place "protecting" citizens from getting credit cards and running up big balances and then running into trouble. Yeah, the interest rates are high, but anyone who doesn't realize that should not have credit! No one is telling you to 1. use the card and 2. buy so much stuff that you can't afford it! In this case, I feel, the public is 100% responsible for their actions. Besides, it makes no sense to "reward" these people with "help" when responsible people are ignored because they were responsible! Truly, buyer beware!!
    References :

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