Great list of which Democrats voted AGAINST the 15% cap.

[Matariki]

Good article at Firedoglake - Democrats for Loan Sharking

http://firedoglake.com/2009/05/14/democrats-for-loan-sharking/

I see my 'in the pocket of business' Senator from Washington voted against it.

[Oregone]

1. Im curious, what is the average effective interest rate paid back on, say $100 dollars cash?

I mean, if you look at all the billions charged on cards, what is the resulting profit (from interest) on those charges?

I wonder how it stacks up against mortgages, which if you pay back on a 30 year schedule, you pay back principle + 170% in interest (@ 6%).

Are credit card companies earning 170% in interest off the amounts they are lending? If not, why the outrage? Otherwise, why the absence of outrage on mortgages (social acceptance?)?

[MercutioATC]

4. Remember, too...credit card debt is unsecured.

If you stop paying your mortgage or car payment, the lender has an asset to take that will reimburse at least some of their loss.

Not so with credit card debt.

[Matariki]

2. Oh jeez. BOTH my senators from Washington.

The rats. AND I see that they've both received in excess of a million dollars from the Financial Industry.

[aquart]

3. They stay bought.

I hear that in Texas, that's the definition of an honest politician. Same for Washington?

[RUMMYisFROSTED]

5. But Patty wears tennis shoes!

And she's a mom!