Sen. Bernie Sanders (I-VT) said yesterday that he’s going to introduce legislation in the next Congress to fulfill one of RePresident-elect Donald Trump’s campaign promises.
We pause now for a routine reminder that not everything Trump says is bad. Thank you. We now return you to your regularly scheduled newsfucking.
Sanders said he was referring to Trump’s promise to cap your credit-card interest rates at 10%:
This is an especially pertinent issue at the moment, as Americans burdened by predatory Wall Street debt are defaulting on their credit-card debts at rates unseen since the last economic crisis.
The Financial Times reports that Wall Street credit-card companies wrote off $46 billion in unpaid debts during the first nine months of this year. That’s up 50% from the same period in 2023.
(It’s worth noting that any industry capable of writing off $46 billion needs to be regulated into a prison cell.)
