It’s good to see that the banking industry’s loyal Senate employees danced to their bosses’ tune by turning down an effort to cap credit card interest rates at 15 percent. One-third of all credit card holders are currently paying interest rates between 20 and 41 percent.
According to one newspaper account, “The banking industry, which had some heavy-weight representatives monitoring the vote off of the Senate floor, warned that an interest rate limit could cause a sour reaction in the financial markets.”
In a plutocracy, the proles have but one function and that is to bend over so they can support the financial markets on their collective back.
Only 33 Senators voted for the amendment that would have capped interest rates. Democrats who voted against it said they did so because they thought such an amendment would doom the bill.
What they meant is that opponents of the cap would have threatened a filibuster, thus killing the bill.
If the democrats (sorry, but they don’t deserve an upper-case “d”) had any backbone, they would have forced a filibuster. Making opponents drone on and on in opposition to a cap on interest rates would have smeared both the Republicans and the banking industry with the shit of their own greed. At a time of high unemployment and foreclosures it would have been a public relations disaster to force banking industry controlled senators to defend a forty-percent credit card interest rate.
Opponents of gay marriage are quick to quote the Bible in support of their position. They conveniently ignore the Bible's fifteen condemnations of usury. This is because they consider loan sharking good business and gay marriage immoral.
That is why we’re a Christian nation.
Sunday, May 17, 2009
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