The sky's the limit: Kevin Drum
doesn't like credit card companies. He links to a
Los Angeles Times story that reports on the companies reaping big dollars through higher interest rates and penalties. And this is all related to the bankruptcy bill in Congress. We
read:
Debate about the bill continued Thursday, with the Republican-controlled Senate refusing to limit consumer interest rates to 30%.
The higher rates are likely to be applied to those who are deemed less likely to repay their debts. And at 30%+, it's a virtual certainty they won't.
posted by Quiddity at 3/03/2005 11:25:00 PM
Will kneecapping be allowed? I mean, we can't have people just not paying. Once you've taken all of their possessions you need some kind of leverage.
You can always get credit at the Company Store, and if you fall a little behind on your rent at the company owned house, what the hell, you've got years of usable work time left. Until you get old, or sick.
Forward to the Nineteenth Century.
Bruce Webb
