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Ron, Cat, you guys are both right. People who were uneducated enough to sign an APR were rolling the dice hoping the rate didn't jump. Meanwhile the companies offering the APR knew that as soon as would be prudent they were going to increase the rate. The question is this: Who is at fault, the person being taken advantage of, or the entity who is taking the advantage? Both are to blame, but one way more than the other. The loan companies and banks drew up contracts with the intent to take advantage. That isn't Capitalism, that is extortion.  About the credit card rates, if you are intelligent as axiom, and capping interest rates doesn't help or benefit you, do they harm you? Even if the result is less credit offered overall, is this a bad thing? Will everyone else be paying a little more to make up the difference? Will it be harder to get a credit card, and is this a bad thing? Will the laws affect bank loans for...
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