Tuesday, September 12, 2006
Welcome to the Blogosphere: Consumer Law and Policy Blog
From the opening blurb: "The contributors to this blog are a diverse group of lawyers and law professors who practice, teach, or write about consumer law and policy. We hope to make this blog of interest not only to academics and lawyers interested in consumer issues, but also to consumers, and the businesses and regulators that deal with them..."
The blog was launched this week and already includes interesting items on identity theft, debt collection, pretexting and privacy of phone records, new guidelines on consumer class action, and developments in European consumer law policy. I should disclose: yours truly is one of the regular contributors.
Here is the Link: Consumer Law and Policy Blog.
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Thanks for the link. Really interesting stuff there! I found the article about credit card holders loving credit cards (but hating credit card company practices) a bit of a 'typical.' Let me explain : Firstly, all consumers know that credit cards are dangerous and that you need to be self-disciplined for it to work in your favor. The problem is that just too many people live out of their means these days, and credit cards are the way in which they do that. Simply put, what do they expect? They're loaning money from an institution, and that institution is happy to give it to them without some high (and relatively quick) return? Come on! Credit card holders need to realise that the credit card is not there to maintain your lifestyle, only to help you with big purchases you CAN ALREADY afford. Any more than this and you're making debt – and when you make debt on the credit card, you end up paying more than you bargained for.
However, the banks and credit companies are certainly to blame for using 'glossy' advertising about how wonderful the credit card is, and dupe people into believing that living on credit is what 'everyone does' and that it is a perfectly great way to live your life. It's marketing, that's what it is. But we know that a lot of marketing these days isn't about the truth, only about selling!
Posted by: Mobile Phones | May 30, 2007 5:11:42 AM
I seem to recall ford making more on the financing part of selling their cars than on the cars themselves. Not sure how reliable that is, but the fact that it might even be possible should reasonable evidence that the tightly competitive american economy has squeezed alot of the profit out of regular industry. Everything we see now with variable interest loans and every other sort of inducement is just a similar correction to the market of credit up until the point where we reach some less unstable equilibrium. Figure a few decades from now the same squeeze will have fallen on the finance sector.
Posted by: Colin | Jun 12, 2007 10:06:15 AM