You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.
Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Reply #10: Definitely yes!!! [View All]

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU
Waiting For Everyman Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-21-08 03:09 AM
Response to Original message
10. Definitely yes!!!
Edited on Sun Sep-21-08 03:17 AM by Waiting For Everyman
Wholeheartedly agree!

And btw, until early in the 1970s ('72 I think), the LEGAL LIMIT on interest was 7%. No problems. It was called "usury" to charge more than that, and was ILLEGAL. Only criminal "knee breaker" types did that. There is zero reason for banks to pay 2% for money and for us to pay any more than 2% or so above that - fixed. That should be for anything, mortgages, student loans, cars, credit cards. Make the loan at that rate or not at all - as it used to be. This grossly sliding scale of gouging based on a history of ever being late on a payment for 20 minutes, is nothing but a giant "con". Their risk assessments are baloney or it would've told them the market was going to collapse and that most of the loans they made were dangerous. It did predict that though, did it? What use is it then?

And why should credit cards (and other creditors) be allowed to change the terms one-sidedly? What kind of contract is that? It's preposterous.
Printer Friendly | Permalink |  | Top
 

Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC