bascule Posted May 15, 2009 Share Posted May 15, 2009 ...by a considerable margin. 60 senators actively opposed the bill: http://www.nytimes.com/2009/05/14/us/politics/14cards.html?_r=1&ref=business I'm confused as to why there's so much opposition, especially in the wake of the recession/depression. It's okay to give banks hundreds of billions of dollars, but there's strong opposition to capping interest rates on credit cards? Link to comment Share on other sites More sharing options...
Pangloss Posted May 15, 2009 Share Posted May 15, 2009 I'm a bit out of touch at the moment (busy with work) but I'm a bit surprised to hear this as well. I was under the impression that the bill was considered a shoe-in, with even some Republicans on board. Link to comment Share on other sites More sharing options...
SH3RL0CK Posted May 15, 2009 Share Posted May 15, 2009 Why the confusion? Its not like the credit card banks don't give significant amounts of money to a lot of politicians campaign funds. Link to comment Share on other sites More sharing options...
Mr Skeptic Posted May 15, 2009 Share Posted May 15, 2009 Senate rejects 15% interest rate cap on credit cards...by a considerable margin. 60 senators actively opposed the bill: Rats! Link to comment Share on other sites More sharing options...
john5746 Posted May 15, 2009 Share Posted May 15, 2009 My guess is they figured it would further restrict credit lines to consumers, which is one of the chief problems with the economy. Link to comment Share on other sites More sharing options...
D H Posted May 15, 2009 Share Posted May 15, 2009 60 senators actively opposed the bill: The Senate didn't vote down a bill. They rejected an amendment that would have poisoned a bill they really want to get passed. Link to comment Share on other sites More sharing options...
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