Eugene David ...The One-Minute Pundit |
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Tuesday, March 31, 2009
The Seniles, on one of those infernal party-line votes, passed a piece of...legislation on credit-card "reform." Two good guesses here: The Democrats voted for it because they didn't see bankers using the opportunity as an excuse to really ratchet down consumer lending and stick it to ordinary people. The Republicans voted against it because they think the credit-card industry would be right in doing so.
I HATE KNEE JERKS OF EVERY STRIPE! P. S. at 5:33 p. m. America's "bankers" issue a statement: Credit cards provide access to credit for millions of Americans and small businesses every day. Making this credit available is a very risky business and the committee’s action today will unfortunately make it harder -- not easier -- for banks to continue doing so. Credit card lenders of all sizes will likely have to pull back on providing reasonably priced credit to a wide range of consumers and small businesses. It is hard to see how that makes good policy sense. TRANSLATION: BWAHAHAHAHAHAHAHAAAAAAAAAAAAAAA!!!!! We'll get back at you customers!!!!! Also, one Democrat voted against. Still annoying.
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