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Austan Goolsbee - Credit Card Bill Kicks in Today

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Uploaded by on Aug 20, 2009

Austan Goolsbee of President Obama's Council of Economic Advisers talks about the Credit Card Accountability, Responsibility and Disclosure (CARD) Act of 2009 - also known as the Credit Card Bill of Rights - which he worked hard on and which kicks in today. Watch the video to get a taste of the types of credit card headaches you won't have to deal with anymore.

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  • likes, 24 dislikes

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Top Comments

  • At least Obama is trying to protect consumers from the sharks.

  • Common sense in the white house is a sign of relief after 8 years of being confused.

    Thank you Mr. President.

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All Comments (108)

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  • who the eff needs an effing credit card? just spend the money you actually have and you're not gonna get screwed by some credit card company... c'mon people start thinkin' , plastic's out!

  • Great youtube. I have create piggybankblog com for all those who have been abused by Bank of America's potentially irregular, fraudulent and simply abusive home loan modification process.

    I am John Wright and I AM FIGHTING BACK!

    John Wright

    piggybankblog com

  • if you use a card your already stupid client of the system. so what will change, nothing. you will still be a stupid client.

  • Dude take you credit card and buy some hair.

  • This guy is hilarious in a weird way.

  • The people here who are focusing their "debate" on the comments he made about he could not understand credit card ToS's are either complete trolls or conflict whores.

    First of all, he was just trying to appeal to the audience. Even if it wasn't his best choice of words, if you're actually going to try to intellectually checkmate his choice to say it, then just stfu and/or gtfo.

    How about actually discussing the pros and cons of the policies he was bringing to the table... my god...

  • Lol well said

  • Again, you're not seeing the irony. It seems like you're refusing to. Hey, I tried.

  • I'm sorry you can't understand your own credit card statements Mr. Goolsbee.

    I'm an economist too, and while my B.A. isn't as impressive sounding as your Ph.D, I feel very sorry for you if you spent so money money on that education but can't figure out a credit card statement. I have no problem with mine, I don't pay fees. In fact the credit companies pay ME, because I take advantage of cash back programs.

    I would be happy to help you and other Obama economists understand economic issues.

  • If you're really an economist, then answer me this:

    How can you improve the overall health of the economy by reducing the profitability of the US financial industry with this Bill at the SAME TIME you're propping the same institutions with money from the treasury?

    Also how does paying to destroy a perfectly good working asset (say a car), to buy a new one with loaned money help the overall economy?

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