Regulation and Credit Industry Blackmail

Get ready. Every time the government threatens to regulate any kind of industry in the financial sector, whether the big banks, mortgage lenders, or, in today's case, credit card companies, you can expect a claim along these lines:

The industry says that the proposals will force banks to issue fewer credit cards at greater cost to the current cardholders.
You want to regulate us? Well, credit will 'dry up.' The article reports that the credit ... Full Story »