Many of us aren’t even aware the levels that congress has learned to screw us…and make themselves look good at the same time.  For example, I’ve already received, and you either have or will receive, a letter in the mail soon with new terms on your credit card.  When I got the letter, I honestly thought very little about it…other than damn…there’s more I’m going have to pay.  Well good thing that I learned, that the increase in my payments have gone up thanks to my buddies in congress.  How does congress cause your credit card payments to go up?  Well they pass legislation and ignore the consequences, and I chose the word ignore for a purprose, but I’m getting ahead of myself.
    This series of events was put in place when congress was debating on a bill which would force banks to give the same rate to people with good or bad credit.  There is a reason that the banks devised the current system, to make sure their loans get repaid and they hedge their bets.  Most banks assume when they make a loan, there is a chance that you may not pay it back, and they are always aware of it.  Their was a way that they could look at your borrowing and repayment history, by looking at your credit score.  Your creidt score would numerically show a bank how likley you were to pay back you loan…the more likley you made you payments ontime and fully, the less risk and they less they charge.  Some people (like myself) ran into some hard times and have a less than perfect repayments, and their score is lower…banks are sure that we will pay them the money on time like we owe them.  Banks see us as risky, so they charge more…to get more money faster.  It’s something we all know happens, and it’s part of the agreement that we sign.
    So back to Congress…they wanted to pass this bill that made people with good and bad credit pay the same amount.  This means to hedge their bets and make sure they make some money, they would have to raise everyone’s rate…good or bad, so they make sure the people not paying aren’t hurting the people paying.  Infact they warned congress, if you put this bill in place…we’ll make every rate equal and recover the money from everyone….not just the deadbeats.  What did congress do?  If you guessed stick their fingers in their ears and go, “la la la…I can’t hear you….la la la”…then you are right…because even with the many warnings from the banks…the embeciles in congress are amazed that the banks raised the rates.
    Now like the usual “heros” of the day…Congress is outraged at these banks and already looking for some way to restore order to the system they messed up…well everyway except for removing the law that put this in motion.  I always thought that this congress and this president wanted everyone treated equally…well not we are…we are all being screwed because of their laws.  Congress doesn’t even have a right to get involved in the workings of the banking business…they are a government…let the banks do what they do best and stay out of it.  If we think their rates are unfair, we can cancel their cards.  What ever happened to personal responsibility?  I guess we gave that up when congress first started passing laws to protect us…it was their job now.  This is why I always make the point to people, do you know how much the government costs you?  Not just the yearly taxes, but all the sales taxes and all the legislation that causes buisnesses to raise their rates.  We would all be alot richer…if they would keep their nose out of our buisness….and stop passing laws just to do something.