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Thread: Obama praises Dodd at credit card signing ceremony

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    re: Obama praises Dodd at credit card signing ceremony

    How eloquent of Obama to use the term 'shout-out'. What is he on TRL?

    I guess the teleprompters didn't have 'I would like to given special thanks and recognition to Senator Dodd...' typed in yet.
    "I hope we shall crush in its birth the aristocracy of our monied corporations which dare already to challenge our government to a trial by strength, and bid defiance to the laws of our country." -Jefferson

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    Re: Obama praises Dodd at credit card signing ceremony

    Moderator's Warning:
    Obama praises Dodd at credit card signing ceremonyTitle changed to match title of news story in OP. Please remember to follow breaking news rules.

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    Re: Obama praises Dodd at credit card signing ceremony

    Quote Originally Posted by Burning Giraffe View Post
    The Hill



    Does President Obama ever listen to any of the asinine things he says? Chis Dodd and Barney Frank are as cozy with Special Interests as anyone. Dodd was one of the Senators that availed himself of the Countrywide VIP mortgage service. Christopher Dodd and President Obama were the top two recipients of special interest money from Fannie Mae. If people aren't going to see through this bill as a pathetic attempt to save Dodds shriveling campaign, then we're in trouble. I would hate to see Dodd reelected on the basis of President Obama's support. Of course, now we'll get to discover how much power and influence President Obama really does have over the American electorate.
    Oh, come off it. When the Republicans were in power, their committee
    chairman's got the big contributions to keep regulation down.

    The notion that this all happened in the last two years is what's asinine. You are aware that prior to Jan. of 2007 it was the Republicans who chaired these two committees?

    Dodd and Frank have done more to reel the banks and market in. Could this legislation have ever gotten written or passed when the Republican's were in power? Think about it.

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    Re: Obama praises Dodd at credit card signing ceremony

    Quote Originally Posted by hazlnut View Post
    Could this legislation have ever gotten written or passed when the Republican's were in power? Think about it.
    Of course not. Or, at least, I would hope not.
    There is nothing more dangerous to the liberty of Man than a Government or a Religion seizing upon the strings of an overdeveloped herd instinct amongst the people.

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    Re: Obama praises Dodd at credit card signing ceremony

    And this legislation was necessary because?

    Oh, yeah, because Chris Dodd and Obama are special interest kinds of guys.

    Clearly, the free market was perfectly capable of weeding out the unsucessful card users and lenders without any interference from the federal government.

    I mean, Joe With No Job gets a credit card some company let him have. Joe can't pay back the loan he's taking out because he's frankly stupid, and Joe's credit history is shot for a while.

    The credit card company loses money when Joe goes bankrupt.

    OH! I see! THIS legislation is "necessary" because Gaffin' Joe Biden, Senator of Special Interest to all the banking and finance companies home-stated in Delaware, just wasn't influenced by them at all when those companies DEMANDED changes in the rules to make it almost impossible for the fish name Joe they caught to file bankruptcy and get off their hook.

    So now Senator Doddly-Do-No-Right has changed the rules making it more difficult for the credit card companies to charge fees on the bad users, and easier for them to charge fees to the responsible users of their credit cards, and everyone is supposed to sing Rosannas (I believe that's a song by Toto) in praise of The Messiah and his arch-angel Doddly.

    Yea! Team! Screw those responsible Americans! Yeah!

    The most important thing patriotic Americans can do is pay their credit cards down to zero, and destroy them, and then use cash only, and under the table where ever possible, to feed the Beasts in Washington and the state capitals as little as possible. Remember also, wear that stupid seat belt and obey all traffic laws to minimize the effectiveness of the Rolling Tax Collectors with Badges.
    Last edited by Scarecrow Akhbar; 05-25-09 at 07:01 AM.

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    Re: Obama praises Dodd at credit card signing ceremony

    Quote Originally Posted by hazlnut View Post
    Dodd and Frank have done more to reel the banks and market in. Could this legislation have ever gotten written or passed when the Republican's were in power? Think about it.
    You are referring, of course, to the Dodd and the Frank who contributed more to the collapse of the financial industry than any other seated Congressman or Senator, right?

    Now you're praising them for making it easier for the credit card companies to punish the people who pay their bills on time?

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    Re: Obama praises Dodd at credit card signing ceremony

    Quote Originally Posted by missypea View Post
    This bill was a positive move in the right direction. I'd like to see them undo the bankruptcy law that was passed a year or two ago. The credit card company extends too much credit to people who are borderline risks. It's my opinion that if they're going to take the risk of giving 10,000 to someone who is risky in the first place....they get to own some of the consequences of it.

    They haven't taken it upon themselves to help the consumer actually pay back the debt, instead they raised the rates. Where's the common sense in that?

    The economic and healthcare issues are also part of the credit card problem. As more and more people find themselves out of a job or a lower paying job AND find themselves without healthcare, they're going to use their credit card to pay for the healthcare they receive.

    They're also paying for food at the grocery store. Almost every time I go to the grocery store I've been behind people who are using their credit card to pay for food.

    I just look around at what's happening and it makes me wonder. Are people really being irresponsible and living beyond their means or are they just trying to survive?

    This bill will do NOTHING except raise the costs to the consumer. Just as any good hearted emotional legislation does; the only ones who REALLY get hurt down the road are the very people this kind of emotionally felt but poorly thought out legislation does.

    There's nothing WRONG with USING Credit cards; it beats paying Debit Fees and carrying HUGE amounts of cash or using a check book to pay for items. What is WRONG with them is their improper use by people acting irresponsibly to support a lifestyle they cannot afford.

    You cannot “legislate” people’s behavior. All more legislation does is cost citizens more in the long haul and make credit even harder to obtain when they perhaps need it the most.

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