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| Friday, April 26, 2024 |
A Federalist 57 Website |
D.
R. ZUKERMAN, proprietor |
An Idea (concerning credit cards) Whose Time Has Arrived
APRIL 28, 2009 -- LPR was very interested to hear that President Obama was scheduled to meet with credit card executives on April 23. LPR believes it was way ahead of the mainstream media and the politicians in calling attention to the predatory policies of the credit card companies, as LPR believes it was way ahead, also, on the anti-common good gas prices of the oil companies. (President Obama -- the oil companies are at it again.)
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LPR has this suggestion for the Obama administration: demand that the credit card companies return to their beleaguered customers the sums they grabbed by means of oppressive interest rates, fees, and other charges. Remittance of the sum equal to the difference between the oppressive rate and 15% seems no less fair than the bailout the administration has been disbursing to the business people who squeeze the consumer, and when the consumer turns away, go to Washington for the money lost as a result of their anti-common good business practices. |
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