The same thing
> happens when I go to buy auto parts etc.--the people behind the counter
> don't know anything about what they are selling.
In a sense this is "your" (the consumer's) fault: Would you go to an auto parts shop with knowledgeable salespeople if the prices were 20% higher? Most people wouldn't, so the folks behind the counters are generally making minimum wager or a bit higher. If you're lucky, you might find some kid working there who's a gear head and does know a thing or two, but you sure can't count on it.
Then you have the
> government. Recently Congress passed a law requiring minimum credit card
> payments to double from 2% to 4% of the balance. The result is an enormous
> increase in credit card deliquencies, foreclosures, bankrupcies, and
> mortgage companies going out of business. How dumb is that?
That's somewhat difficult to answer and largely depends on how much you think the government should be "protecting" consumers from themselves. I'm sure there were plenty of banks that would have much preferred to keep sucking 2% a month from people indefinitely rather than having them declare bankruptcy and getting nothing.
Most of the mortage companies going out of business right now were engaged in such risky practices that they fully deserve it; they probably never should have been allowed to exist in the first place.
---Joel