It seems like everyday now that we learn about a government sponsored bailout of another major corporation. Many smaller businesses, as well as individual people, are left asking where is their bailout from the unscrupulous lending practices of the banks and credit card companies.
In recent years, consumers have been encouraged to use their credit cards for everyday purchases, including groceries, fast food meals, and even the morning cup of coffee on the way to work. All of these purchases, plus the interest and fees added on, have only built up a vast pile of debt for the average cardholder.
This is not much different than the debt built up by corporations, who now have their hand out, asking for help. And the government seems very willing to provide that help, at the long-term expense of the American taxpayer.
There is however, a bailout of sorts for personal credit card … Read More