It makes me so sad that this man isn’t my president….
I don’t believe in caps but I do think that having the government enter the marketplace of payday loans makes a lot of sense. I loved the idea, I think it was actually Bernie Sanders, of making the post office profitable by offering payday loans at more reasonable rates. Somebody could go in with their credit card debt, get a payday loan to cover it and then drop their rate to whatever markup the United States Postal Service put on it.
But how else do you expect the government to always have the upperhand congressman?
What is it, Delaware and South Dakota have zero laws against usuary… so therefore the big banks’ credit card wings are based in those states. So they can charge 29.99%
And most of the people will not get credit cards or the limits will be lowered…. please. Do it.
Yea, we should give out money to whomever needs it. That’s what is fair. The government can just print the money, so Bernie should be president because he knows so much about what would work.
We all know incentives dont matter, and the government is super immune from incentive effects.
Because a big bank is the same lever of risk as a regular person? This would just make it impossible for some to get credit.
Let’s bring back true, unregulated capitalism! Industrial Revolution with kids on the factory lines was peak American life
Nobody is forcing people to use credit. And if you pay it off by month end it costs you $0 interest. Credit card debt is unsecured and dischargable in bankruptcy so it’s much more risky. Shit back in the day mortgages were 15% so how can you fix credit card debt at that rate
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15? That’s extortion. It should be 5.5%!!
It makes me so sad that this man isn’t my president….
I don’t believe in caps but I do think that having the government enter the marketplace of payday loans makes a lot of sense. I loved the idea, I think it was actually Bernie Sanders, of making the post office profitable by offering payday loans at more reasonable rates. Somebody could go in with their credit card debt, get a payday loan to cover it and then drop their rate to whatever markup the United States Postal Service put on it.
But how else do you expect the government to always have the upperhand congressman?
What is it, Delaware and South Dakota have zero laws against usuary… so therefore the big banks’ credit card wings are based in those states. So they can charge 29.99%
And most of the people will not get credit cards or the limits will be lowered…. please. Do it.
Yea, we should give out money to whomever needs it. That’s what is fair. The government can just print the money, so Bernie should be president because he knows so much about what would work.
We all know incentives dont matter, and the government is super immune from incentive effects.
Because a big bank is the same lever of risk as a regular person? This would just make it impossible for some to get credit.
Let’s bring back true, unregulated capitalism! Industrial Revolution with kids on the factory lines was peak American life
Nobody is forcing people to use credit. And if you pay it off by month end it costs you $0 interest. Credit card debt is unsecured and dischargable in bankruptcy so it’s much more risky. Shit back in the day mortgages were 15% so how can you fix credit card debt at that rate