Please note, quote is taken from Senator Bernie Sanders Questions Card Card Interest Rates. Please link to the quote in this article, or DailyPUMA link provided above, transcriptions take a lot of time to do and nobody is paying for it to be done.
Well Rachel, this is the problem with this issue, is, it is so big, that nobody can get their hands on it. It is not just 700 billion dollars, as you know the fed has lent out 2.5 trillion dollars. The president is probably going to ask for more top money.
The fed, we think, is going to lend out trillions more. So what we need to do, among many other things, is we need to figure out a way that we do more than get back to where we were a couple of years ago, by making the institutions stable.
If the taxpayers of this country are putting such a huge amount of money into financial institutions, we need financial institutions that are gonna be beholden to the needs of ordinary americans and not go back to where we were... (as in a couple years ago.)
For example, Just one example. Right now, we're bailing out banks which are charging american taxpayers 25 or 30 percent interest rates on their credit cards. Does that make sense to anybody?
We're giving banks money and they're not telling us how their spending it. We're trying to loosen up credit in america, they're not doing it.
Sanders went on to talk about actually prosecuting the richest people on the planet who may have performed misdeeds that have led to the current situation, and wondered if the justice department was up to the task prosecuting those who are culpable.
So when does the consumer get their interest free Credit Card Debt Paydown Program?