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WahooMatt05
Joined:
08/30/2013
Posts:
26058
Likes:
48179
What's this?
Nobody should be paying those rates
In effect it protects them from themselves. The lender either needs to lower the rate or the recipient needs to find an alternative. A 20% rate is not healthy.
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BocaHoo91
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Posted: 07/01/2022 at 11:51AM
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Current Thread:
America’s most radical socialists are proposing a bill to cap interest
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WahooMatt05
07/01/2022 11:14AM
The better way to do something like this would be to cap risk premium.
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hoolstoptheheels
07/01/2022 1:02PM
All that will happen with the cap of 15% is that significant populations of
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111Balz
07/01/2022 1:38PM
Not a fan of AOC. I understand monitoring predatory lending schemes ...
--
Blah
07/01/2022 12:42PM
Everyone is greedy...applies to Banks and other lenders as well **
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Tuckahokie
07/01/2022 12:01PM
Grate idea!!! Will keep the most vulnerable from being saddled with loans. **
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ResistHoo
07/01/2022 12:01PM
Not reasonable at all, really. There is an argument that even 36% caps are
--
WahooRQ
07/01/2022 12:01PM
What about when inflation fighting 16% prime rates return? I don't think
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81_Hokie
07/01/2022 11:58AM
Seems like a bad idea as it would
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BKhoo
07/01/2022 11:52AM
If you can't get a credit card with less than 15% interest you probably
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BocaHoo91
07/01/2022 11:49AM
Actually most credit cards are between 15-20% APR. Subprime is around 30%.
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WahooRQ
07/01/2022 11:55AM
My two are around that. I use them for convenience and haven't paid a cent
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NJHoo
07/01/2022 11:59AM
That's fair. But it's basically just going to restrict revolving credit
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BocaHoo91
07/01/2022 11:59AM
Nobody should be paying those rates
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WahooMatt05
07/01/2022 11:51AM
You’re making absolute judgements, which don’t work in economics.
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hoolstoptheheels
07/01/2022 12:47PM
What if that “rate” is the result of a $25 dollar fee you incur and the
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WahooRQ
07/01/2022 12:07PM
That’s one thing I think could be worked around
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WahooMatt05
07/01/2022 12:30PM
The important consideration, IMHO, is ability to repay.
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WahooRQ
07/01/2022 12:53PM
The alternative in that case is walking or riding a bike. He's making
--
BocaHoo91
07/01/2022 11:57AM
...I-phone is jumpy**
--
Tuckahokie
07/01/2022 11:42AM
Yes, because policy should be set by popularity polls.
--
Hoodafan
07/01/2022 11:34AM
Elections should **
--
HoodatB
07/01/2022 11:36AM
If you can’t borrow money for less than 15% already, you’re an abysmal
--
CharlestonSC
07/01/2022 11:25AM
Loan sharks and payday lenders prey on people who are desperate
--
WahooMatt05
07/01/2022 11:49AM
Then let's educate people better, Jefferson was right. **
--
HoodatB
07/01/2022 12:59PM
Have you seen the citizens of this country?
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WahooMatt05
07/01/2022 1:22PM
Better pursuit of predatory lending practices is far more effective
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hoolstoptheheels
07/01/2022 12:35PM
I mean I don’t disagree as far as my own judgement, I just think we need to
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CharlestonSC
07/01/2022 12:31PM
And pushes even more of them to "my people" that will happily loan them $
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Hoodafan
07/01/2022 11:59AM
Hobbits are in the loan sharking business? Who do you use for muscle,
--
WahooRQ
07/01/2022 12:10PM
Fuck off you pathetic excuse for a human. **
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Hoodafan
07/01/2022 12:16PM
Your ex wife? Why are you quoting her here? **
--
WahooRQ
07/01/2022 12:17PM
Fuck off you pathetic excuse for a human. **
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Hoodafan
07/01/2022 12:19PM
And here’s the illustration to go with her quote
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WahooRQ
07/01/2022 12:30PM
Fuck off you pathetic excuse for a human. **
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Hoodafan
07/01/2022 12:36PM
I’m sorry for you, really. Guess I shouldn’t poke fun at your misery
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WahooRQ
07/01/2022 12:38PM
Fuck off you pathetic excuse for a human. **
--
Hoodafan
07/01/2022 12:38PM
You should say that one more time, just to remind everyone how stable and
--
WahooRQ
07/01/2022 12:54PM
You should keep lying about me to get "likes" from your fellow
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Hoodafan
07/01/2022 12:59PM
A narcissist too. No wonder she bailed. **
--
WahooRQ
07/01/2022 1:25PM
Fuck off you pathetic excuse for a human. **
--
Hoodafan
07/01/2022 1:31PM
Just remember—the problem isn’t you, it’s everyone else! 😂 **
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WahooRQ
07/01/2022 1:47PM
Fuck off you pathetic excuse for a human. **
--
Hoodafan
07/01/2022 1:58PM
15% might be high now, but might not be in a year or two. **
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JohnHoo2
07/01/2022 11:51AM
That’s basically it. Fewer people will have access to credit. **
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hoolstoptheheels
07/01/2022 11:48AM
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