I saw a nauseating TV special on the evil credit card industry, and how they hired a mathematical expert several years back who proved how by LOWERING people's minimum payments, they could vastly increase the balances people were willing to hold, because of the perceived increase in manageability of their account with the lower payment requirements. It worked better than they ever expected. Now they will return it to as before with millions of new people now overextended, and the door to bankruptcy now firmly shut. These people are truly evil and must be stopped. Try reading some online industry-insider article sometime about how they spend much of their time trying to get people to run up balances they can barely afford, and trying to dissuade people who pay on time from doing so. The evil they resort to to f**k up people's lives dwarfs any manipulation the tobacco industry has ever engaged in.
Have a look at this article (it is written from the left-wing point of view, still it is quite good and it provides excellent references to the traditional/conservative sources):
You really nailed them good. Right on.
They make a living off of robbing people
of their future, granted the people have
to accept the terms.
Texas seems to do little to control the credit card
companies behavior. Im no fan of gov regulation but they need to step in if they are not in bed with them.