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Tuesday, February 22, 2011

Obama Politburo: Credit Card Rules Successful

According to Obama's Consumer "Financial Protection" Bureau, the credit card rules they enacted were wildly successful in curbing certain fees and preventing rate increases.

What they failed to tell us is that, as the WSJ has pointed out several times, rates are dramatically higher for everyone. Further, a lot of the people who used to have access to cards are now either priced out or have to go to payday lenders or pawn shops.

Funny what their view of success is.