The Great one tries to help DUMB Americans

Well I must say I am not surprised that BIG Brother is now meddling in the business of credit card companies. Is anyone???? I mean come on now this is the Administration that epitomizes BIG GOVERNMENT. So I read the consumer reports cliffs notes version of what the bill in tales and think this is a whole lot of BS. Here is something that I bet all the suits up on Capital Hill never thought of hold on it's BIG, might take a whole lab of MIT GENIUSES to figure this one out. DON'T USE A CREDIT CARD! Phew it took me all about 2 seconds to think of that one.

The reason why Credit Card Companies put in the fine print is because they know we live in a culture where everyone wants it now. Hey I am not saying I did not subscribe to this mentality. It took 1 hour of listening to Dave Ramsey to wake me up. I mean does there really need to be legislation signed that says "hey Mr. Credit Card bully, we don't think it is fair that you don't play nice in the sand box."

What Obama and this Administration really need to realize is American's have brains, we do. WE can actually think for ourselves from time to time, but know it's another sign of things to come.
Here is the summary:
•Interest rates can’t be raised during the first year of an account
•Customers will be notified 45 days in advance of any change in interest rates
•Bills can be paid online or over the phone without incurring a processing fee
•Customers must be over 60 days late on payments before their interest rate can be raised on balances; if the rate is raised, it will go back to the lower rate if customers make the minimum payment on time for six months in a row.
•Overlimit fees can’t be charged unless cardholders are told that the purchase will put them over their limit and they authorize it to go through anyway
•If your card has more than one interest rate on balances, then payments must be applied to the highest interest rate first
•Gift cards can’t expire for five years, and issuers can’t charge dormancy fees for unused amounts left on the card
•Credit card statements must be mailed out 21 days before they’re due
•Individuals under 21 will need a co-signer on their cards unless they can prove that they have the means to make payments on their own
•Credit card agreements will have to be posted on the internet

Third bullet from the bottom-What happened to GOING GREEN? CC companies now have to spend money on postage stamps just to send me a statement on paper that I am just going to shred. I hate paper statements. Not a good use of technology if you ask me. Plus the tree huggers in Oregon might get pissed off at the loggers who need to cut down more trees to provide the paper for the statements.

Now you might find this one crazy, but I do agree with second to last bullet. As a parent I know my child will won day be at college and might fall into the cc trap. Let's hope I raise them better than that, but we remember how we were at 21. I just spent my last 10 dollars on some Milwaukee's Best, hey I know let's charge a pizza to my Amex card.

I think this bill stinks. Obama will sign it anyway and in 9 months from now it will go into affect. It irratates me to know end that the Great One feels the need to keep deciding what is right and wrong for us.

Let's use the baby bird analogy here. We all know that momma bird feeds the baby until the time he/she is ready to spread his cute little wings and fly off to get food. What would happen if momma bird decided to provide oversight throughout the birds life? The bird would not be able to fend for itself. That is exaclty what is going on here!

This is the change we need people! THis is the Hope everyone voted for. The change that allowed Americans to stop thinking for themselves and allow THE GREAT One and his Administration to make choices for us.