Letters to the Editor
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The ultimate bail out
Don't blink, before you know it the Congress will be bailing out the Credit Card companies, and their past dues clients. To be sure their rates constitute usury, and these companies have a number of other egregious practises, red-lining probably. On the other hand, if you use your Credit Card wisely, the service doesn't cost you anything, although it was once said that (all) consumers underwrite the use of credit cards, and retailers who did not take CC's could sell the same product cheaper, it's hard to make that case anymore. The same experts used to advertise cable as television without advertising.
People with large credit card bills were abusing the system in bankruptcy court, and these companies were hard pressed to do anything about it... The question of consumer credit is a nagging one. We could probably benefit from a bill which would prevent healthcare providers from putting their services on your Visa card. That might force them to deal with the issue.