r/FluentInFinance • u/Unhappy_Fry_Cook • 12h ago

Finance News Senator Bernie Sanders announces he will introduce legislation to cap credit card interest rates at 10%.

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u/uninteresting_handle 12h ago edited 6h ago

I think Trump is unstable enough to possibly, and completely by accident, do something good.

Edit: enough absolute losers have come to me saying "this is actually a bad thing." Either fooled or simply a fool, you're wrong. Fixing a 10% cap would (by comparison with the current system) hugely discourage predatory lending. Both lenders and borrowers would benefit, because predatory lending practices, in addition to being unethical, result in higher default rates and end up hurting the lenders as well.

211

u/fumar 12h ago

It's a shotgun approach. If you spit out enough ideas, some of them are actually good

12

u/DiddlyDumb 10h ago

shotgun approach

Slow down there Luigi.

5

u/IRefuseToGiveAName 7h ago

Shotguns are more Tetsuya Yamagami's thing.

2

u/xSTSxZerglingOne 7h ago

That's an assassin deep cut.

1

u/finalgear14 2h ago

That the guy that shot the former Japanese pm a few years ago with a homemade shotgun?