The Adventures of Charlie Champion

Heroes are often ordinary people dealing with extraordinary events.

On Memorial Day, we remember the fallen heroes, who died defending our Great Nation

Their sacrafice is the ultimate cost for the freedom which we, as Americans, enjoy.

For anyone who has ever been in the military,  you know that the Armed Services are comprised, for the most part, of ordinary Americans, just trying to get by.

Of course the military does appear t0 have a surprisingly large number of “gung ho” and A H , types, but conventionally they are the skeleton of the Military machine, your “average Joe, or Josephine, represents the flesh and blood of any military.

So to the flesh and blood heroes who have fallen to protect our Nation,  “THANK YOU!!WE HONOR YOU TODAY AND ALWAYS,DEATH TO PROTECT FREEDOM IS A VERY NOBLE DEATH.”

Now, I’m about to get sneaky with  you.

As long as I have your attention I’m going to teach you something.

I want to make you think.

I believe we have some very big problems, and the people we are paying to fix our problems, have no clue, what to do.

Here is an example of how do gooders don’t do no good, without even trying.

Last week Congress at the behest of the President, passed a credit card reform bill.

Everyone has a credit card annoyance story. We spend too much, they raise interest, or shrink our credit lines for no obvious reason. The mail is slow one month and we get hit with late penalties. etc.

Those darn credit card companies are pigs, they overcharge us all kinds of hidden fees, who isn’t cheering for this bill? They are finally getting what they deserve. 

Here’s the other side of the story. You judge how much you like this new law.

The law essentially imposes limits of how much credit card companies can charge in interest.They put time constraints on current balances, and prohibits or controls other “penalty” fees.

In effect the Congress has eliminated the card companies from adjusting to greater lending risks. If a customer is consistently late, or if a new applicant had a credit history of being a poor risk, the banks can’t increase his costs of borrowing.

In most cases the banks will simply stop lending, and further reduce or eliminate any clients that are not A + credit.

In this way Congress is damaging the general public, which the bill was designed to help.

“If we can’t charge more for bad credit to help defray some of the losses, then we won’t lend the money at all.”

This entry was posted on Tuesday, May 26th, 2009 at 2:03 am and is filed under Current Events, Financial News, Just An Observation, New Articles, Quality of Life. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.