wait credit card companie can't survive on 30 % interest rates

[Johonny]

Treasury Secretary Henry Paulson said Wednesday that the administration will continue to use $250 billion of the program to purchase stock in banks as a way to bolster their balance sheets and encourage them to resume more normal lending. He also announced that the administration was looking at a major expansion of the program into the markets that provide support for credit card debt, auto loans and student loans.

I have to now support credit card companies. Huh? Screw that. If those vultures can't survive on interest rates of 12-30 % then frankly that business can't survive period. Here a thing when the administration starts to control usury then the people getting reamed by these companies can start to feel sorry for them and help them out. Until then I say let the credit card companies fail.

[BOSSHOG]

1. I'm paying 6.75% on our credit card

and our company USAA is doing just fine and dandy and continuing to provide outstanding customer oriented service.

[SammyWinstonJack]

2. USAA is a great company.

[BOSSHOG]

3. Everytime

I see one of those godawful annoying Capital One commercials when they ask what's in your wallet?, I answer the TV - A USAA credit card. I had a nasty experience with Capital One. I've never gotten anything from USAA except satisfaction.

[MadHound]

4. Oh, it's even better

American Express got Fed approval to turn itself into a commercial bank the other day, so it too can suck up as much as possible from the Treasury bailout trough. Sickening:puke:

[Johonny]

5. It's not that I don't have faith this bailout could have helped

the US financial market. But how the bailout is getting spent clearly shows once again how lack of regulation is the major blame. The bailout isn't forcing companies to make better financial decisions it's just another way for them to extend their bad business practices a few more years... months. Until good sound people are back in the executive branch I want no more bailouts... but that might be too late for some people. Yet another reason to have impeached!