I think that the issue is so much bigger than the government freezing or capping interst rates. All of these people signed a legal and binding contract. The situation that they are in now is unfortunate. It sucks that tons of people signed shady contracts, but I'm not sure that the best remedy is bailing everyone out. It sucks that we can potentially get dupped by all these companies, and it's sad the we feel so entitled to not even take responsibility for it. It's more about educating people. It boils down to ethics, and the fact that there are huge corporations feeding off of the undereducated and underpaid. It reminds me of the Visa and Mastercard tents that get set up on the beaches of Florida during Spring Break, where hundreds of drunk college kids sign up for credit cards with big limits and even bigger rates to go along with it. Should this be legal? I don't know. On the one hand, it is ethically wrong. On the other, it's capitalism at its finest. I guess the real question, for me, is how much responsibility should our government have with respect to fiscal responsibility ANDthe financial eucation of its citizens?
