Senators protect banking buddies
Friday
Senate democrats reject amendment to limit credit-card interest rate to 15%.
Duration : 0:5:43
[youtube DTM20dt4ubY]
Categories: protect credit rating aba, Banks, consumer debt, credit, credit card, credit card debt, credit card fraud, credit report, credit score, credit-card interest, debt, debt consolidation, FICO score, interest rate limit, money, recession, recovery, senate democrats, student credit card, student loan
The Senate is …
The Senate is either yes corrupt or they simply used poor judgement. Many more people today are now scraping to stay alive and they are using their credit cards more than ever. When the credit card issuers begin raising interest rates it’s going to create a surge of Chapter 13 filings and this of course is going to cause the credit issuers themselves to go bankrupt. What will the Senate do next when this happens? Borrow from the Federal Reserve and bailout the credit issuers? Duh!