credit

Senate Vote on H.R.627: Motion to Waive CBA Sanders Amdt. No. 1062; To establish a national consumer credit usury rate.

In a nutshell what was proposed was an interest rate cap on Credit Cards.

So while banks are free to get into mortgage backed derivatives, hedge funds and any other manner of unsavory business that would mar the credit of other businesses; they are still permitted to loan shark their customers for flippant reasons.

Thanks a lot Senator Hagan. This two-party electoral system should just be called "Dumb and Dumber."

I guess they thought the testimony would be too emotionally painful for their banking donor buddies. At least, one has to draw that conclusion when Republicans on the House Consumer Credit Subcommittee are so threatened they arrange for witnesses to be stonewalled and bullied.

But, in their efforts to keep these stories out of circulation, House Republicans kinda blew it. No wonder none of 'em are returning reporter's phone calls.