First, the Federal Government decidcapital-buildinged that we needed to bail out/take over key parts of the financial sector. Next, the automobile makers received a bailout/take over from the Feds. Recently, the so called “Public Option” health plan that is Federal Government run is making its rounds through Washington in various pieces of legislation.

If you don’t think that the “Public Option” is a government take over of the health care sector then just ask yourself – When the government “competes” – guess who always wins? (The answer: the government always wins because its impossible to compete long term against the government. Competing against the government is like playing a basketball game where the government is the other team, the referee, the coach, the owner of the arena, the league owners, etc etc).

All of this makes me wonder – what’s next? Is the government’s push to regulate the credit card industry via the newly enacted CARD legislation simply just the first move in a plan to eventually take over the credit card companies and force them to issue “Public Option Credit Cards” or “Government Bailout Credit Cards” to people regardless of whether they are actually credit worthy candidates? (hmmm, if you think this is too far fetched then maybe a reminder about the Community Reinvestment Act and its role in causing the financial meltdown is in order: Here’s How The Community Reinvestment Act Led To The Housing Bubble’s Lax Lending).

Granted, some of this is somewhat satirical because I seriously doubt that the government would ever issue a “Government Public Option Credit Card” but when you consider all that has happened lately with the Federal Government’s grab for power – who really knows?

Similar Articles:

Credit Cards

Do you have a unique story to tell about credit cards or something related to small business/personal finance? If so, contact us to submit your own guest post ideas and you could be featured on our blog!

Disclaimer: This content is not provided or commissioned by American Express, Visa, MasterCard, Discover, or any other credit card company or issuer. The opinions expressed here are the author's alone, not those of any credit card company or issuer, and have not been reviewed, approved or otherwise endorsed by any credit card company or issuer. Credit Card Chaser may be compensated through various affiliate programs with advertisers. As always, Credit Card Chaser is an independent website commmitted to helping people research credit card offers and find the best credit card!

Leave a Reply

Your email address will not be published. Required fields are marked *


You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>