2007-04-21 19:56:18 · 12 answers · asked by Habitus 4 in Politics & Government ➔ Other - Politics & Government
Sure why not? They offer a product and people have free will to chose to use it or not. Are bars and nightclubs guilty of aiding and abetting alcoholics because they serve liquor? Is the race track or casino guilty of fraud because the odds are stacked in their favor? NO, NO and NO.
People need to take responsibility for their own actions and lack of control or common sense. We need to stop crying when we commit an error and own up to our own stupidity.
2007-04-21 20:02:56 · answer #1 · answered by Anonymous · 1⤊ 2⤋
No, but I don't think you can expect corporations to act morally. They are going to do whatever they can to maximize profits. If doing all kinds of unethical things will make them more money, that's what they will do.
The problem is that the Republicans and the Bush Crime Family let the credit card companies write the new laws, so this means they can pretty much do whatever they want and they are still obeying the law.
There are 3 things we need to do to solve this problem, not only with credit card companies, but with all corporations:
1. Change the laws so that companies have to disclose everything, in full, about their product or service. Make the laws so that the consumer is treated fairly.
2. Make the penalty for breaking the law or injuring others so high that it becomes much more profitable for companies to obey the law and/or make their products very safe.
3. If a company recklessly harms others, destroys the environment, or cheats others, put those responsible, including company presidents, in prison for a long time. This will make them think very carefully before they decide not to do the right thing.
2007-04-22 03:15:27 · answer #2 · answered by Alan S 6 · 0⤊ 0⤋
Nope, I do not! I do expect people to be realistic when they take any type of loan and to read the fine print, but many people do not understand the fine print. Perhaps what these companies should do is to make the information and consequences of taking their loans easier to understand? I do notice that they convince many young college students to take huge loans with huge Apr's and since young people have the least experience with handling money and paying off debt the consequences are horribly harmful. Some young students have even committed suicide because they had so much guilt and stress over not being able to figure out how to pay off their loans. Credit card companies push so much for new customers that a couple of years ago even my dog had been invited to get a loan. I did not allow him to, but I am sure he would have liked to spend all credit that was available to him. He would have felt miserable about all of the debt he couldn't pay off. Good morality question.
2007-04-22 19:49:39 · answer #3 · answered by Libby 5 · 0⤊ 0⤋
No, but than again morality is the enemy of corporations. The more people they can trick the richer they become. This is why it is important for the government to step in. However when the criminals that run the government are just as corrupt as the big business then the end product ends up looking like what it does today.
2007-04-22 03:06:12 · answer #4 · answered by intotheforest689 1 · 2⤊ 0⤋
No, I do not! They tack on charges thaty are totally unexpected and they are hitting at those least able to pay the costs. It is no wonder there are so many defaults. I certainly recommend that any of you out there DO NOT get a credit card for any reason. You will keep paying for it forever and ever.
2007-04-22 13:03:01 · answer #5 · answered by Anonymous · 1⤊ 0⤋
No, they are deliberately working to put the entire country hopelessly in debt. Handing out credit cards like candy, they then charge interest that in the 1970's was illegal and classified as the mob crime of "loan sharking," thus making it impossible to pay back the interest, let alone the balance on these cards. definitely criminal and certainly immoral and unethical.
2007-04-22 03:06:18 · answer #6 · answered by michaelsan 6 · 2⤊ 0⤋
Yes. The percentage rates and fees charged is in direct proportion to the risk. If you have trouble paying your bills or have not yet matured enough to understand how to spend money wisely, you shouldn't get a credit card. Sorry.
2007-04-22 03:40:25 · answer #7 · answered by Anonymous · 0⤊ 0⤋
They're there for the money, and that is it. They search our universities address book just to figure out where we live so they can send us a million advertisements. They know we are poor college students, but yet they offer us something we cannot afford. i have seen it plenty of times.
they actually hire students for free gifts. Cheesy free gifts, but we are blind to think we'll win XBox 360's, or something. They hire these kids to give out shirts that says "college", but that really means nothing to our university. In order to get one of these shirts you have to sign up for 3 different credit cards.
I seen at least 20 people this semester wearing these shirts..
EDIT: I must add that our address's are on my universities web sites. I can find out a bunch of peoples addresses by looking up the letter A.
2007-04-22 03:07:45 · answer #8 · answered by Anonymous · 2⤊ 0⤋
No. The credit card and sub-prime mortgage problems in this country indicate the need to re-institute usury laws.
2007-04-22 03:17:49 · answer #9 · answered by Anonymous · 0⤊ 0⤋
I think charging 29.% interest as the default rate is usery; thus, criminal.
Many people will never be able to get out of debt...
2007-04-22 03:03:06 · answer #10 · answered by MenifeeManiac 7 · 2⤊ 0⤋