- Sep 27, 2005
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Obama said card-holders must sign long, complex contracts that are filled with "traps and fine print that only a credit card executive could understand."
He said "Washington" has let the companies get away with it -- because those companies have "spent millions" on political campaigns and lobbyists who influence legislation beneficial to the card companies.
"This has to stop," Obama said. "We cannot let the rules of the game continue to be rigged against ordinary Americans. We need a president who will look out for the interests of hardworking families, not just their big campaign donors and corporate allies."
Obama accused Republican John McCain of siding with the credit card companies by supporting a bankruptcy bill that Obama opposed. (The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 made it more difficult for Americans to escape their debts through bankruptcy protection. McCain called the bill "an important step toward a fair and balanced approach to restoring personal responsibility to our federal banking system.")
http://www.pbs.org/wgbh/pages/frontl...s/credit/view/
He said "Washington" has let the companies get away with it -- because those companies have "spent millions" on political campaigns and lobbyists who influence legislation beneficial to the card companies.
"This has to stop," Obama said. "We cannot let the rules of the game continue to be rigged against ordinary Americans. We need a president who will look out for the interests of hardworking families, not just their big campaign donors and corporate allies."
Obama accused Republican John McCain of siding with the credit card companies by supporting a bankruptcy bill that Obama opposed. (The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 made it more difficult for Americans to escape their debts through bankruptcy protection. McCain called the bill "an important step toward a fair and balanced approach to restoring personal responsibility to our federal banking system.")
http://www.pbs.org/wgbh/pages/frontl...s/credit/view/
