Don’t like the terms? Don’t use the card!!! It’s called a free market.
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If it’s a free market then why are we using taxpayer money to bail them out?
I see so the term free market is used only when it is convenient for the business?
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I’m not and wasn’t in favor of bank bailouts and feel that this violates everything that is required of a free market. It privatizes the reward and socializes the risk. That is NOT a free market.
However, I think that, because of the bailouts and risky behavior of consumer lending in general and mortgage and CC lending specifically, the banks are finally realizing that they have to price risk and cost back into the credit they are offering consumers. The day of reckoning is nigh.
I say it’s about damn time.
It’s time for the bankers to reign in consumer (over)spending and the only way to do that is by contracting credit.
Remember, many of the ‘prime’ borrowers with high credit scores are now the ones defaulting on their credit cards and mortgages.
