Shorting Stay at Home Moms on Credit
The Credit Card Act was supposed to rein in eeeevil financial institutions. Now that the Federal Reserve is proposing rules based on the legislation mandating consideration of independent income rather than household income as has been the norm, stay at home moms may have to have their spouses co-sign their card applications. TWS on the WSJ article. They go on:
This comes on the heels of another proposal by the Fed (subsequently tweaked), under which “retailers would have had to require customers to provide pay stubs and tax documents when applying for a credit card at the cash register.” Moreover, it’s par for the course. The Obama administration’s and Democratic congressional leaders’ preferred mode of legislating is to vest incredible amounts of quasi-legislative power in the hands of unelected officials (see Obamacare), who then proceed to issue legally binding “rules” that declare what Americans can or cannot do, nationwide.
Pretty archaic and demeaning. This stuff is making me mad.
Another unintended consequence of the Dems and Obama administration legislation–or was it intentional?
We know NOW and their ilk consider at home moms second class citizens. Now their allies are trying to implement it.
Rule-making without representation, another form of tyranny.
P.S. First Lady O receives no salary, perhaps she can take up this issue–if she can tear herself away from her latest vacation. Will she have to travel with her spouse next time?
Jill 5:48 PM on 01/03/2011 Permalink |
Wow. Government only know how to make things worse.
backyardconservative 5:55 PM on 01/03/2011 Permalink |
These people have NO common sense.
pjMom 6:00 PM on 01/03/2011 Permalink |
I planned on posting this tomorrow. I can’t wait until the generic SAHM Oprah watcher/Obama voter goes to Target to apply for her 5%-off-all-the-time-discount! credit card and tries to figure out why she was denied.
Anonna 11:00 PM on 01/03/2011 Permalink |
“… mandating consideration of independent income rather than household income as has been the norm, stay at home moms may have to have their spouses co-sign their card applications.”
This is EXACTLY one of the issues that started the feminist movement back in the 1960s. Back then a wife had to get her husband’s permission for financial activity – and we’re kinda heading back in that direction. It’s ironic since I’ve been reading columns trashing feminists lately. The current women who use that term are NOT the feminists of days gone by. The original feminists fought to expand women’s freedoms. I hope we can remember that even as we fight to retain those freedoms.
This action by the government is reprehensible.
zillaoftheresistance 3:59 PM on 01/04/2011 Permalink |
Heh. I’m one of those people trashing the so-called “feminists”:
http://zillablog.marezilla.com/2010/12/femininican.html
You’re right, the women who use this term NOW are absolutely NOT in the business of helping women or fighting for the rights of females at all. I highly doubt you’ll see any ‘feminists’ taking up this issue, but maybe some Femininicans will!
fuzislippers 11:15 PM on 01/03/2011 Permalink |
Hubby has to co-sign for your credit card? Seriously? The femisogynists and their enablers strike again.
Yukio Ngaby 12:07 AM on 01/04/2011 Permalink |
Heh.
Chicago Daily Observer » Blog Archive » Durbin Pushes Consumers to Loan Sharks. And Women? 2:45 PM on 01/04/2011 Permalink |
[…] Durbin Pushes Consumers to Loan Sharks. And Women? Anne 4 January 2011 No Comment [This article was syndicated via RSS from BackyardConservative. The views represented do not necessarily represent those of the Chicago Daily Observer.] Dodd-Frank and the Return of the Loan SharkAnd women back to the Dark Ages? […]
zillaoftheresistance 4:00 PM on 01/04/2011 Permalink |
I’m a stay at home mom and I think this stinks. Will I next need my husband’s permission to drive?
Quite Rightly 11:10 PM on 01/04/2011 Permalink |
No, as long as he signs your auto insurance form.
Been there, done that. It stinks.