sandstone | November 17, 2009
What the fools in Washington and the credit card companies refuse to acknowledge is that the institutional gluttony of credit card rates (that are usury by any definition) is leading to the highest default rates in history by consumers and halting growth by small businesses who are forced to rely on credit cards.
Excessive credit rates are nothing less than a tax on small businesses who are unable to obtain loans through the banks.
Category: Barack Obama, CREDIT CARDS, Congress, Democrats, Economy, LEGAL ISSUES, LIFE, MSM, Obamaland, RANDOM, Uncategorized, business, politics, small business |
2 Comments »
Tags: commercial real estate the next to tank, Excessive credit card rates are a tax on small business, reduce credit card rates to get the economy going
sandstone | November 13, 2009
Here’s what Main Street and small business owners, the backbone of this economy, know … the economy could rapidly go into gear, jobs would return, and consumers would begin spending if Team Obama were smart enough to do the following:
1. Reduce credit card interest rates to 15% or less. Banks should not be allowed to charge their customers more than 3 or 4 times of the savings rate at their banks. In the 70′s, credit card companies were prohibited by law from charging customers more than 12% interest rates. With credit card debt at an all time high, consumers simply will not go out and spend until their credit card debt is greatly reduced.
Category: Barack Obama, CREDIT CARDS, Economy, Uncategorized, business, politics |
2 Comments »
Tags: Amerika's New Economy, credit card rates ursury, OBAMA ECONOMIC DISASTER, OBAMA NUMBERS PLUMET, small business credit card debt, TARP FUND MADNESS
