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Since the bailout money is supposed to be a "loan", I have a proposition.

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Lyric Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-26-09 11:34 AM
Original message
Since the bailout money is supposed to be a "loan", I have a proposition.
Pass a law that says the repayment interest rate for bailout money is equal to the average credit card interest rate for consumers as of the minute before the new credit card legislation takes effect.

If they jack our rates up to 26%, 28%, 30%....then THEY'LL owe the same amount in interest back to US.

We gave the financial sector the biggest damned credit card that this country's ever seen. They aren't the only ones who can unfairly raise rates after the fact.
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msongs Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-26-09 11:44 AM
Response to Original message
1. now now lyric republicans will never do such a thing, nor will republican-lites nt
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tbyg52 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-26-09 11:48 AM
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2. I like it, but we don't have even that much control over them.
Corporations have taken over not just this country, but the world.
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ejpoeta Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-26-09 11:58 AM
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3. how about we just randomly jack up the rates like they do.
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endless october Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-26-09 12:05 PM
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4. sounds good.
let the fuckers pay it back at the default rate.

my current rate is 24 percent.
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kentuck Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-26-09 12:48 PM
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5. Just borrow it back...
:shrug:
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Norrin Radd Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Nov-27-09 04:19 AM
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6. kr
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Better Today Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Nov-27-09 05:29 AM
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7. Can we incorporate this into it. . . How about since they
need us to be able to spend and use credit for their futures, they should foot the bill for the jobs recovery. So maybe that extra interest instead of going into general funds is earmarked for jobs stimulus which it sounds like we aren't likely going to get.
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BigBearJohn Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Nov-27-09 07:44 AM
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8. Great idea. And don't forget the LATE fees.... could be TRILLIONS
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