In The Blogs

Credit Card Update

| Tue May. 19, 2009 2:43 PM PDT

I see that Chris Dodd's credit card reform bill passed the Senate 90-5 today. This is even better than I expected, and goes to show the agenda-setting power of being in the majority. In the past, Republicans could have simply prevented a bill like this from coming to the floor, thus sparing themselves the political difficulty of voting against it. Now they can't do that. They have to vote whether they like it or not. And since credit card reform really is a hot button issue, their sense of self-preservation got the better of them and they gave the bill a massive majority.

Which is fine, but I suspect it also means that Dodd could have played hardball a little more strenuously than he did and negotiated a better bill. Who knows? If Dems figure this out, maybe it will be the first legislation in history to actually be improved in conference.

Oh — and all the boo hooing from the credit card industry? If you believe even a single word of it, you need to run not walk to your local emergency room and have them do an MRI on your brain. There's a chunk missing.

Advertisement

Kevin Drum is a political blogger for Mother Jones. For more of his stories, click here.

Comments

Well, I didn't feel the

Submitted by godoggo (not verified) on Tue May. 19, 2009 2:58 PM PDT.

Well, I didn't feel the quake this weekend, but I felt that.

sadly

Submitted by dday (not verified) on Tue May. 19, 2009 3:22 PM PDT.

this thing ain't going to conference. The House is going to eat that supposed poison pill thrown in by Tom Coburn to allow loaded weapons in national parks, and just pass the Senate's version (which is actually a little better than the House's other than the Coburn amendment). Why? Because the President wants the bill by Memorial Day, and if there's one thing the US Government is, it's punctual.

I think the 90-5 is less

Submitted by scott1959 (not verified) on Tue May. 19, 2009 3:26 PM PDT.

I think the 90-5 is less about the power of the majority and more about Coburns (wingnut-OK) amendment, favored by the NRA, to allow loaded weapons in National Parks. What Republican has the guts to vote against the NRA? As for the credit card industry, I am not sure there will be many losing sleep over them.

If Dodd had anything to do

Submitted by Art Eclectic on Tue May. 19, 2009 5:51 PM PDT.

If Dodd had anything to do with it, there is a fine-print provision hidden somewhere by which credit card issuers make out like bandits. Re-election campaigns cost money! They might be crying, but watch for the crocodile tears.

free russian dating, russian

Submitted by compiknews on Sun Nov. 8, 2009 10:44 AM PST.

free russian dating, russian dating sites, russian single dating, anastasia russian dating, russian love dating, dating in russian, dating single russian woman
Dating... russian dating now this appearance became more and more distributed. Many foreign rich men wish to get married on an common Russian or Ukrainian woman. Why do alien millionaires want to live only with Russian lady? All over the world there are many beautiful ladies, so why do they select only Russians? No one knows answer for this important russian dating and joyful question, but this note can show you a little truth. What do you think about Russian and Ukrainian ladies. Let me tell you. russian dating They are beautiful beautiful, kind, cheerful, funny and clever. Many them are very smart, but they choose a joyful family against their russian dating profession. Most of them wish to get married on a nice person and to raise a kid. They love their parents, they will help everybody who need them. In a dialog with common Russian or Ukrainian lady you will find many good feelings. russian dating Conversation with them is funnyly and simple. russian dating Russian or Ukrainian girl are fond of cooking, their delicatessens are really tasty. russian dating Russian lady will wait you after your work with russian dating your child, she will love you. She will do all flat housecleaning while you are at work, she would take care of your kid; family life with her will be like a fairy. Look russian dating at ordinary American russian dating woman and tell me her good russian dating characterizations. I think that you won't russian dating find them. American women are lazy and rude. They are fond of beer, cigarettes, simple stupid series on the TV and they prefer to discuss them with their girls. It isn't interesting to talk and live with them, they can't grow a kid. That's why really clever men don't want to get russian dating married on them. Russian or Ukrainian ladies are much better then American. So if you want to start a really good family life with really good lady, the best method for you is to find a russian dating woman in Russia or Ukraine. Nowadays there are lots of ways of dating in the web, so prospecting of Russian or Ukrainian girl will be really simple for you. Source: russian dating

If enacted into law as

Submitted by rubby (not verified) on Tue May. 19, 2009 6:12 PM PDT.

If enacted into law as expected, the credit card industry would have nine months to change the way it does business: Lenders would have to post their credit card agreements on the Internet and let customers pay their bills online or by phone without an added fee. They’d also have to give consumers a chance to spare themselves from over-the-limit fees and provide 45 days notice and an explanation before interest rates are increased. it is said that some of these changes are already on track to take effect in July 2010, under new rules being imposed by the Federal Reserve. But the Senate bill would put these changes into law and go further in restricting the types of bank fees and who can get a card.

A/c Niall Ferguson in The

Submitted by I-pay-off-my-credit-card-balance-every-month in wisconsin (not verified) on Wed May. 20, 2009 6:33 AM PDT.

A/c Niall Ferguson in The Ascent of Money, Jews got into the lending business for a variety of reasons but primarily because usury was considered a sin by Christians. What the credit card companies have been getting away with (with the help of Congress) is usury. Congress should be doing something about legal loan sharks and say no more to legalized usury. I fear they owe too much to banking lobbyists.

classic tall ugg

Submitted by abby (not verified) on Sat May. 23, 2009 6:46 PM PDT.

tagged as:

solution

classic tall ugg boots classic tall ugg boots classic cardy ugg boots classic short ugg boots classic metallic ugg boots classic mini ugg boots classic sundance ugg boots ultra tall ugg boots ugg nightfall boots Ugg boots Ugg boots

credit card bill

Submitted by Makaila V on Mon May. 25, 2009 9:30 PM PDT.

It is better to have the Credit Card Bill approved by President Obama to have better rulings on credit card industry and also to have a good protection for credit card holders especially in time like this that Credit card companies, since they are in the financial industry, have been taking hits. However, Credit card companies, since they are facing lower revenues, are doing whatever they can to gouge the customers they need to survive. (Not that Wall Street ever does much to do things like try to serve customers needs or anything.) A lot of people end up getting overcharged for inactivity (they're not supposed to charge for it, period) and it ends up damaging their credit score (your credit score gets damaged for not adding more debt, makes sense?) and it has a lot of people turning to payday loans instead. It isn't surprising – the leading cause of need for debt consolidation is credit card companies.

it's indeed a great design.

Submitted by Chi Flat Irons (not verified) on Thu May. 28, 2009 10:24 PM PDT.

it's indeed a great design. why couldn't they just make cooperation with each other and make the greatest bike in the long line of man's history. trust Scott USA will public its masterpiece. Chi Flat irons Chi Hair Straightener Chi Hair Tools

Credit card issue

Submitted by jonathanpaul on Sat Oct. 31, 2009 1:47 AM PDT.

Credit is an agreement between a lending organisation (such as a bank, or credit card company) and you, the borrower. That agreement puts money in your hand, in your bank, or on a credit card, for your use. You can make purchases up to your credit limit. When the bill comes, you must pay at least the minimum balance. Banks charge interest on unpaid balances. Generally, if you pay the entire bill at the end of the month, you will not have to pay interest charges. Credit card debt is at record levels, as the cash-strapped struggle to give up a certain standard of living, or forego a lifestyle that is not necessarily essential to their basic daily living requirements. Click here for more information.