slavery - what wars were fought for, that mankind struggled hard to get rid of ... came to the C20th, and people jumped like lemmings to sign up for debt slavery

Idiots

why cant i own a canadian?

Because us Canadians own all of you Americans.

Or was it the Chinese that own the Americans? :P

The Chinese own Americans... but soon, they'll start lending Canadians the money to buy Americans from them.

-Fooglmog
Guy with no clue.

I think this is a good move, not so much as a way to help people with existing credit card debt, but more for people who currently don't have massive credit card debt but may in the future.

It creates a goal to strive for -- to meet or beat the estimate -- and it gives some people who do just make the minimum payments a wakeup call.

It's definitely a step in the right direction, but there are still many steps to be taken before America as a whole, or individuals across North America, are back on a path to fiscal responsibility.

On a more serious note.

You're right Dibs, it's absolutely ludicrous that Americans can't be fiscally responsible without assistance such as this bill. However, that lack of responsibility is having (and has had) a serious negative effect on American society as a whole. Therefore, laws like this are necessary in order to force the majority of Americans to reform their bad habits and create a culture of fiscal responsibility once again.

-Fooglmog
Guy with no clue.

err can somebody give me a link to whatever you guys are talking about, i haven't noticed anything on this....

http://www.cbc.ca/...9/05/22/obama-credit.html

unbiased story on cbc.ca

Canada has better news about America than America does :p

hey pang that link is fluffed. i found the article anyway

anywho, what happened to personal responsibility? if one does not know how the credit card payment system works, one shouldn't go and get a credit card.

credit cards are given to any1 who wants and then ppls pay 1 card's bill from other card etc.

hmmm the link-editing algorithm needs to inlude -'s

thanks llaar! :p

very much agree there, llaar - personal responsibility

it just doesn't make sense how our world can survive with so many people living beyond their means(including my self)

It is not a personal responsibility issue.

It is a consumer information issue and control over lending practices.

It is amazing how many people fail at math and don't know the damage they are doing to their finances by simply not contracting a loan in a bank to pay their credit card balance. Most people here know people like that, likely in their own family. :P

Better information should help with that.

Regarding the interest rates changes, that will make the contract less one sided. It is a move toward a more classical view of a contract, infact.

i fixed the linkingness :)

Or people could just be smart like a large company and file for bankruptcy.

http://www.daveramsey.com

gz just wanted the link so he knew how to deal with his mess now.
And lastly I don't and won't use credit cards anyhow. I use the Dave Ramsey method.
They are stupid, they rip you off and you are always in debt to them unless you pay them off. But most americans will always go back to reusing them.

Marshal .....for awhile they would not give me a credit card, I am the exception to the bunch LOL