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Credit Cards
I'm too lazy to cut and paste between threads, so I'm just going to spew here. If I didn't respond to your post, feel free to let me know.
To Bilmore: I'm surprised at you - since when do you you look down from your high post and think of all the little people that need protection. It doesn't take a law school degree to be able to manage debt or to realize that a 30% interest rate is very high. Some of the best business people I know barely graduated high school. This isn't a question of brains. The "little people" are a lot smarter than you think. It's a question or responsibility.
I don't think there should be interest rate caps.
To Fringey: Of course they have to disclose interest rates. The interest rate is a material term, the absense of which would make the contract unenforceable.
To Wonk: I view the G's roll in banking much like I do in securities. It really is not necessary because a private entity could step in (see, e.g., Nasdaq and NYSE), but all in all, it probably makes the system more efficient, so I'm OK with it.
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