| akuma587 said: And Mafoo, now it sounds like you are arguing that the government should have better regulated this practice even though you created a thread a week or so ago lambasting the government for proposing to do this EXACT SAME THING.
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Umm.. so CEO's lied to there shareholders, and somehow this has something to do with this topic?
And I am all for protecting people from lenders. The Truth in Lending is great. The issue I had a few weeks ago was the government making law because they thought was lenders were doing was somehow taking advantage of people.
If I tell you I am going to raise my interest rate if you don't pay your bill, I tell you in clear, understandable language, and you agree to it, then so be it. The government should not be like your mom who looks out for you. They shouldn't say "well, you're just not smart enough to understand this, so we are going to do what's best for you".
Force banks to better explain there position, and put something in place that better ensures that the people signing the contract understand what they are getting into. I am fine with that.
Again, protection vs parenting.
