The Accurate Reloading Forums
AOC
10 March 2025, 20:11
theback40AOC
I laughed at her when she said something stupid, so only fair I mention when she has a good idea.
She wants to cap credit card interest rates at 10%
There is no reason I can think of for them to charge 20-25%, other than pure greed.
I have always paid mine off monthly. But sometimes shit happens, and to be buried by interest doesnt seem right.
I doubt it will make it anywhere, but it should in my opinion.
10 March 2025, 20:17
LHeym500Well, I am for it. It is regulation of contract (though an adhesion contract), and credit market.
10 March 2025, 21:09
SaeedThey tried that before.
Didn’t work.
The banks paid their minions in Congress and nothing came out of it.
Same will happen again.
Like everything in America.
Money talks!
10 March 2025, 21:28
TumbleweedDamn, and here I thought you guys were all about Free Enterprise and sweet, sweet pure capitalism and letting the markets decide - and now you want regulations?
WTF, are you turning into communists or something?
10 March 2025, 21:47
theback40Show me a sector that does not have regulations?
10 March 2025, 22:04
Mike Mitchellquote:
Originally posted by Saeed:
They tried that before.
Didn’t work.
The banks paid their minions in Congress and nothing came out of it.
Same will happen again.
Like everything in America.
Money talks!
Yeah, this is never going to happen. It should. The rates charged are usurious. I've told my kids to get two credit cards: An AMEX that has to be paid in full every month. and a VISA for the places that don't take AMEX.
10 March 2025, 22:17
Tumbleweedquote:
Originally posted by theback40:
Show me a sector that does not have regulations?
Oh! Right! I forgot, you also have that “Well regulated militia” stuff.
I’ve heard it’s really popular down there.
How’s that one working out for your school kids and your street gangs?
Yeah, I don’t think we really want to get in on that one.
Its a good idea, wish we would do the same.
10 March 2025, 22:45
ANTELOPEDUNDEEquote:
Originally posted by Tumbleweed:
Damn, and here I thought you guys were all about Free Enterprise and sweet, sweet pure capitalism and letting the markets decide - and now you want regulations?
WTF, are you turning into communists or something?
Do you think that the market asked for those rates or it's what the market/s will bear?
Give me a home where the buffalo roam and I'll show you a house full of buffalo shit.
10 March 2025, 22:58
theback40Works fine for me, I live in the sticks, hate cities.
Stopping city crime is up to mayors, but they would rather let crooks go and "hope" they learned their lesson.
11 March 2025, 15:49
ledvmFiscal responsibility cannot be mandated only encouraged. Credit card debt in the USA is at an all time high again now — like it was going into the 2009 financial crisis. If you mandate low interest on CCs…CC debt will skyrocket.
Hi interest on CCs serves somewhat as a stimulus to live within your means.
That said…in yesteryear it was easy to form relationships with local community banks to enable lines-credit at reasonable rates — usually 2% above prime. For the responsible person…this was what one used for unexpected necessity spends.
Regulations have overwhelmingly removed the vast majority of “locally held” banks from the system — the banks where you were more than a number. Now it is hard to get line-of-credit type money from banks forcing people to credit cards.
Regulations got us to where we are now. I don’t believe “more” regulation is the answer.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
J. Lane Easter, DVM
A born Texan has instilled in his system a mind-set of no retreat or no surrender. I wish everyone the world over had the dominating spirit that motivates Texans.– Billy Clayton, Speaker of the Texas House
No state commands such fierce pride and loyalty. Lesser mortals are pitied for their misfortune in not being born in Texas.— Queen Elizabeth II on her visit to Texas in May, 1991.
11 March 2025, 16:13
SaeedActually, they limit the interest charged, banks would lower the limit to customers!
11 March 2025, 16:20
ledvmNot getting what you are saying Saeed.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
J. Lane Easter, DVM
A born Texan has instilled in his system a mind-set of no retreat or no surrender. I wish everyone the world over had the dominating spirit that motivates Texans.– Billy Clayton, Speaker of the Texas House
No state commands such fierce pride and loyalty. Lesser mortals are pitied for their misfortune in not being born in Texas.— Queen Elizabeth II on her visit to Texas in May, 1991.
11 March 2025, 16:24
Saeedquote:
Originally posted by ledvm:
Not getting what you are saying Saeed.
Banks allow people to go sat in debt because they can charge exorbitant interest.
If that interest is limited, the banks won’t offer so much credit for people.
11 March 2025, 17:26
theback40That was what I was thinking too saeed.
If they were worried about payments, they would allow only a small limit on the card, or not give one at all.
I had my card with a local bank, it got sold, transferred, whatever, to another out west.
11 March 2025, 17:34
Mike Mitchellquote:
Originally posted by ledvm:
Fiscal responsibility cannot be mandated only encouraged. Credit card debt in the USA is at an all time high again now — like it was going into the 2009 financial crisis. If you mandate low interest on CCs…CC debt will skyrocket.
Hi interest on CCs serves somewhat as a stimulus to live within your means.
That said…in yesteryear it was easy to form relationships with local community banks to enable lines-credit at reasonable rates — usually 2% above prime. For the responsible person…this was what one used for unexpected necessity spends.
Regulations have overwhelmingly removed the vast majority of “locally held” banks from the system — the banks where you were more than a number. Now it is hard to get line-of-credit type money from banks forcing people to credit cards.
Regulations got us to where we are now. I don’t believe “more” regulation is the answer.
Only Lane would come in and offer support to the predatory lenders charging 24% interest.
12 March 2025, 00:39
LHeym500All banks around here fir 4 exits are local held.
At one time we had usury laws, they disappeared along with the federal income tax deduction for interest.
I'm not sure of the time line, whether the two things are related or not. They seem complementary, anyhow.
The credit card rates are what the market will bear, and it is bearing them.
If it would bear more they'd charge more, simple matter of supply and demand.
Bankers would squeeze the pee out of a church mouse if they had a borrower for it.
Read Marine Major General Smedley Darlington Butler's explanation for our entry into World War One.
TomP
Our country, right or wrong. When right, to be kept right, when wrong to be put right.
Carl Schurz (1829 - 1906)
12 March 2025, 05:10
M.ShyWell, we got limits on mortgages and no penalties for early payout
CC should be limited to some point
Never been lost, just confused here and there for month or two