I've got no say in whether this happens or not, so it's pointless to rant and rave about it. I will say that if this is the shock to the system to teach Americans better spending and saving habits, then some good may yet come of it.

Typical idiot socialist. You can't just put a federal cap on the CC interest rate without also kicking out millions of people with bad credit who screwed up their right to get a better rate than what they currently get.

Bernie thinks the CC companies are at fault, it's never the irresponsible customer's fault. If done properly, the CC card companies won't be able to continually spam consumers with credit card offers and make it so easy to get one (as long as the rate is 25%+), since someone with horrible credit has already proven they don't understand interest rates and smart financing.

Stmichael said:

---

I've got no say in whether this happens or not, so it's pointless to rant and rave about it. I will say that if this is the shock to the system to teach Americans better spending and saving habits, then some good may yet come of it.

---

That is outside the purview of the government. Individual experience is the instructor.

Stmichael said:

---

I've got no say in whether this happens or not, so it's pointless to rant and rave about it. I will say that if this is the shock to the system to teach Americans better spending and saving habits, then some good may yet come of it.

---

There is a road that is paved with good intentions.. I just can't remember where it leads..

Govt should not be in the business of telling a private company what they can and can't do. If people sign up for their service and agree to their terms then those people should be held responsible for their actions.

Aggies1322 said:

---

TheBonifaceOption said:

---

BREAKING: Senator Bernie Sanders announces he will work with Trump to cap the credit card interest rates at 10%

— Eric Daugherty (@EricLDaugh) November 15, 2024

You know the state of the Democrat Party is bad when the far left loon is more moderate than the average thought leader on the left.

I for one would love to see this policy in place. Usury is wicked.

---

You know that means that the average American will no longer have credit available to them, right? An unsecured credit product to everyday Americans comes with a ton of risk.. the banks will no longer take that risk if the govt caps what they can charge. Horrible policy imo.

---

The consumer class might have to say no to things because their account is overdrawn. The horror!

Tom Kazansky 2012 said:

---

Aggies1322 said:

---

TheBonifaceOption said:

---

BREAKING: Senator Bernie Sanders announces he will work with Trump to cap the credit card interest rates at 10%

— Eric Daugherty (@EricLDaugh) November 15, 2024

You know the state of the Democrat Party is bad when the far left loon is more moderate than the average thought leader on the left.

I for one would love to see this policy in place. Usury is wicked.

---

You know that means that the average American will no longer have credit available to them, right? An unsecured credit product to everyday Americans comes with a ton of risk.. the banks will no longer take that risk if the govt caps what they can charge. Horrible policy imo.

---

The consumer class might have to say no to things because their account is overdrawn. The horror!

---

Impressive reduction of working class people. But sure, because you don't struggle for money, that means there is no one out there that could possibly be fiscally responsible and still need some leverage to live at different times in their life.

Reaching across the aisle. Good Trump.

Aggies1322 said:

---

Stmichael said:

---

I've got no say in whether this happens or not, so it's pointless to rant and rave about it. I will say that if this is the shock to the system to teach Americans better spending and saving habits, then some good may yet come of it.

---

There is a road that is paved with good intentions.. I just can't remember where it leads..

---

And your suggestion on what I should do about it is...what exactly? Vote Democrat next time? Yeah, that'll show em!

Tom Fox said:

---

Stmichael said:

---

I've got no say in whether this happens or not, so it's pointless to rant and rave about it. I will say that if this is the shock to the system to teach Americans better spending and saving habits, then some good may yet come of it.

---

That is outside the purview of the government. Individual experience is the instructor.

---

Decades upon decades of individual experience has shown over time that humanity is really bad at learning from experience.

Again, from a general principles perspective, it's not the purview of the government to protect people from their stupidity. But the only power I have in this is my vote, and they've got 4 years to go before I get to use that again. So all I get to do is watch and see how it unfolds. And I suspect that this may teach some people a lesson they wouldn't otherwise learn.

Stmichael said:

---

Tom Fox said:

---

Stmichael said:

---

I've got no say in whether this happens or not, so it's pointless to rant and rave about it. I will say that if this is the shock to the system to teach Americans better spending and saving habits, then some good may yet come of it.

---

That is outside the purview of the government. Individual experience is the instructor.

---

Decades upon decades of individual experience has shown over time that humanity is really bad at learning from experience.

Again, from a general principles perspective, it's not the purview of the government to protect people from their stupidity. But the only power I have in this is my vote, and they've got 4 years to go before I get to use that again. So all I get to do is watch and see how it unfolds. And I suspect that this may teach some people a lesson they wouldn't otherwise learn.

---

How does shielding people from the consequences of their decisions teach these people a lesson?

What this does is tell private businesses that they cannot rely on the government to stay out of their business. How is that beneficial to the free market?

Stmichael said:

---

Aggies1322 said:

---

Stmichael said:

---

I've got no say in whether this happens or not, so it's pointless to rant and rave about it. I will say that if this is the shock to the system to teach Americans better spending and saving habits, then some good may yet come of it.

---

There is a road that is paved with good intentions.. I just can't remember where it leads..

---

And your suggestion on what I should do about it is...what exactly? Vote Democrat next time? Yeah, that'll show em!

---

No… I don't think that's ever a good idea.

Tom Fox said:

---

Stmichael said:

---

Tom Fox said:

---

Stmichael said:

---

I've got no say in whether this happens or not, so it's pointless to rant and rave about it. I will say that if this is the shock to the system to teach Americans better spending and saving habits, then some good may yet come of it.

---

That is outside the purview of the government. Individual experience is the instructor.

---

Decades upon decades of individual experience has shown over time that humanity is really bad at learning from experience.

Again, from a general principles perspective, it's not the purview of the government to protect people from their stupidity. But the only power I have in this is my vote, and they've got 4 years to go before I get to use that again. So all I get to do is watch and see how it unfolds. And I suspect that this may teach some people a lesson they wouldn't otherwise learn.

---

How does shielding people from the consequences of their decisions teach these people a lesson?

What this does is tell private businesses that they cannot rely on the government to stay out of their business. How is that beneficial to the free market?

---

It's not shielding them from the consequences of their actions. If they don't have good credit, they won't get the credit card. Simple as that.

How is it beneficial to the free market? Decent odds it won't be. But it's out of my hands, so all that's left for me is to complain or to see some potential benefit. In this case, I see an upside that's at least worth mentioning.

Aggies1322 said:

---

Stmichael said:

---

Aggies1322 said:

---

Stmichael said:

---

I've got no say in whether this happens or not, so it's pointless to rant and rave about it. I will say that if this is the shock to the system to teach Americans better spending and saving habits, then some good may yet come of it.

---

There is a road that is paved with good intentions.. I just can't remember where it leads..

---

And your suggestion on what I should do about it is...what exactly? Vote Democrat next time? Yeah, that'll show em!

---

No… I don't think that's ever a good idea.

---

Nor do I. So I get to sit back and watch what being overruled in the primaries gives me.