The sky-high rates may be a sign of things to come in the market for so-called subprime credit cards as issuers who lend to the riskiest of borrowers try to figure out how to stay in business and comply with the new credit card reform law.
*****************
WRH's Commentary:
This is legalized loan-sharking. We need to go back to cash and carry. The banks will hate me for that, of course; their power over the people lies in creating permanent indebtedness, not unlike the abuses of the company towns made famous in songs like "16 tonnes".
~
No comments:
Post a Comment