“This is essential,” Obama said. “For this crisis may have started on Wall Street. But its impacts have been felt by ordinary Americans who rely on credit cards, home loans and other financial instruments.”

First Problem: Relying on credit cards

Second Problem: Washington stating that this is an OK thing to do-and expecting the credit card companies and other financial institutions to make changes, and not those that are living off of borrowed money.

I am sick of hearing about how bad credit card companies and financial institutions are-they are not non-profit organizations! I have this crazy idea, that if you don’t like what they are doing-don’t do business with them. Why blame the fine print on them-when you signed the terms seeing the size of the fine print? Why think that mortgage problems are the fault only of the financial institution, when the borrower is the one that signed without reading the document?

All we are doing is saying it is OK to blame someone else for the predicaments that we find ourselves in, because we can just blame someone else. Due to the government blaming everyone except those that accepted these terms, they are creating a society of believers that it is OK to not take responsibility for our own actions.

Source: Yahoo