Expanding the Welfare State

Congress is going to hold hearings about "unfair" practices perpetrated by credit card companies. In effect, people are complaining that they are being charged fees when they pay their bills late or do not pay the full minimum due. They are also complaining that when they have been late in payment, their interest rates have been increased, with the credit card companies saying they are high risk.

Out of all of the complaints, the credit cards companies have been found to be within the law. One complainer, got into trouble with his card, was put into a high risk interest rate, and hit with over-limit charges when his account went over-limit. He complained to politicians, and the card issuer waived the remainder of his account.

Apparently, if you charge your way into debt, complain to the government. After all, it's the credit card company that keeping you in debt, even when you keep using it.

Should elected politcians really be getting involved in private financial matters??