Richard I have to agree with Chuck on this. No one is holding a gun to most consumers heads, forcing them to use credit. People must take responsibility for themselves. If people don't use the services of the "elite', as you say, then one of two things would have to occur. The people you assume are taking advantage will go away or offer more favorable terms. The real problem is most people don't have the self discipline to make the correct choices. There is plenty of blame to go all around here.

It goes to the core of liberalism.  People are not capabile of being responsible, so the government must take care of them.  The Nanny state.

IN all fairness, I know SD is a liberal, but he is not that stupid either.  He knows the truth of the matter, but will not admit it unless pushed to do so.  It is easier to blame evil rich guys instead of the stupid people, and it appears more compassionate.  Note I said appears.