Should the interest rate on the bailout money be hiked up to 30% without notice?

  • Thread starter Thread starter HI
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That's what the credit card companies do... we would be the US of VISA. If that happened, maybe I could sell my admittedly perverse advertisement idea for the "Capitol One" Vikings. :)
 
Yes, yes, yes. YES!!

That's what they do to us, look at the ridiculously high interest rates on mortgages and credit cards.

We used to have usury laws, which limited the legal interest rate to 18%, and companies made adequate profits at that level.

Since the failing companies and failed fatcat incompetent execs seem to think that these same execs deserve bonuses at the taxpayers' expense, they should pay for the use of the money!!

Wouldn't it be ironic if our government actually MADE money for a change? They wouldn't lower taxes, though, they would simply find a way to squander even more than they already do.
 
30% is for every-day capitalist banks and credit cards for that bail out CHINA should demand HALF OF AMERICA over the next fifty years!!!!!
 
No, that would insure the bailouts would not be paid back. The Federal Funds rate is 0%, I doubt we tax payers will see much interest on these "loans". Hopefully, they will charge at least the same amount as the interest paid on the debts created to provide the bail outs.
 
Since Obama mentioned credit card interest on Leno, I am pretty sure that he has plans to fix that.

They are able to exercise those kinds of shenanigans because the Supreme Court ruled that the regulation of credit between states belonged at the state level. The banks have their consumer credit divisions headquartered in the few states that do not regulate.

I don't know how he is going to get around that at the federal level - but I sure hope he can.
 
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