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Posts Tagged ‘credit card debt’

One more post from me today.  I love political cartoons (and as always encourage you to check out my favorite, Cox & Forkum), and saw these two today (click on each for larger image):

The critique behind both of these obviously is that credit card companies are taking advantage and mistreating their clients.  While their practices can certainly be nefarious and under-handed, I continue to believe that consumers are responsible for their own lot, and do not need a bailout as they appear to be getting.  I know plenty about credit debt, so trust me that I fall in the category of people who would be classified as victims.  

But this seems to be just another example of what got us into the home mortgage mess (again, a guilty party speaking here).  The thinking that debt is somehow income, or maybe a right that needs to be governed by regulators as congress is doing.  All these burdens congress is adding to credit agencies (listing how long payoff time is, not allowing late fees, etc.) aren’t these all responsibilities of the people who take on debt?

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