>>We're subsidizing deadbeats in housing on the backs of the responsible, why should credit cards be any different?
>>
>>This is very distressing news. I live on my credit card and pay everything off in full every month. If this happens, I will have to cancel my card and go back to using cash. The only down side is that I will no longer be able to make purchases over the internet.
>
>It's not news, it's speculation and fear mongering.

Fact : Taxpayers are bailing out some citizens who've failed to pay their home loans.
Fact : CC companies are changing their terms as a direct response to this legislation in order to recoup lost revenue. The changes include charging previously uncharged short-term balances.

It is news and it's not fear after all we will simply adjust. Mainly it's just another example of the State interjecting itself into private business.

I know this is a recurring theme of mine but you must admit the number of examples is climbing quickly. Eventually they will get to something you care about. ;)