Steven Hansen

Government's New Credit Approach: Does the End Justify the Means?

the rates being charged by credit card providers are usury. from wikipedia:

"In the United States, usury laws are state laws that specify the maximum legal interest rate at which loans can be made. Congress has opted not to regulate interest rates on purely private transactions, although it arguably has the power to do so under the interstate commerce clause of Article I of the Constitution."

"Congress has opted to put a federal criminal limit on interest rates by the RICO definitions of "unlawful debt" which make it a federal felony to lend money at an interest rate more than two times the local state usury rate and then try to collect that "unlawful debt"."

it is not defensible to loan money to people who cannot pay it back, nor should banks have access to a fed lending window which gives them access to money literally hundreds of times less interest than they charge consumers - 1/4% for banks and 36% for consumer credit card.

Credit Card Cancer

consumer's going deeper in debt during a recession only inhibits recovery.

Why AmEx Becoming a Bank Holding Company is a Positive Move

thank you - good info.

The Mess on Wall Street: $4 Trillion Down the Drain

great post. your graphics are worth 1 trillion words.

How Much Credit Is Too Much? Where AmEx Went Wrong

hey, i have lived outside of the usa for the last 25 years, and amex's acceptance has been rising. they have lots of deals now with the local banks,

The Fat Lady's Not Singing Yet for the Economy

to me the market has repriced itself to the future earnings potential, some would say the rally which began last week was a sign the market had over corrected - especially in financials.

please tell me that is true because i am thinking the big money people are creating a mini-rally to pull the fools back in to financials so that they can get out.