What could possibly go rwong?
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National Review
April 27, 2009 4:00 AM
By the Editors
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President Obama, flitting from crisis to crisis without ever quite managing to solve one, has alighted upon credit cards. He summoned a dozen credit-card executives to Washington and dressed them down. Finding credit-card statements difficult to read, Obama proposes to put the wordsmiths of the federal government in charge of reforming them. He also proposes to manage interest rates and fees, the size of the type on bills, the content of card issuers’ websites, and the ease of comparison-shopping among competing cards. As the commercial says, there’s a card that’s right for you — and the president believes he knows which it is: “Every credit-card issuer has to issue a plain-vanilla, easy-to-understand, simplest-possible credit card that would be the default credit card that the average user can feel comfortable with.”
President Obama, flitting from crisis to crisis without ever quite managing to solve one, has alighted upon credit cards. He summoned a dozen credit-card executives to Washington and dressed them down. Finding credit-card statements difficult to read, Obama proposes to put the wordsmiths of the federal government in charge of reforming them. He also proposes to manage interest rates and fees, the size of the type on bills, the content of card issuers’ websites, and the ease of comparison-shopping among competing cards. As the commercial says, there’s a card that’s right for you — and the president believes he knows which it is: “Every credit-card issuer has to issue a plain-vanilla, easy-to-understand, simplest-possible credit card that would be the default credit card that the average user can feel comfortable with.”
Default may be a poor word choice in the context of credit, but the message is clear:
You yahoos are going to eat your plain vanilla, and you’re going to like it...
posted by jillosophy at 4/27/2009 03:14:00 PM
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