1/14/2026
trump doubles down on credit card rate
Trump claims he is running Venezuela. I guess by the same token he can run the 4 big banks in the USA.
I don't understand how an Executive Order can force banks to change their rates, probably the banks don't either. Sure the rates are high - over 20%. But this is unsecured debt, no collateral. the default rate is high. As a former Bankruptcy Trustee I can attest to that. Individuals with a mortgage, two car payments and two kids soon start living on the credit card. One loses a job and that's all folks. This is why ra rates on cards are high.
As the WSJ commented today, Trump ciriticized Kamala for being a communist wanting to set just about everything to her will. Who is the Central Planner now?
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