The idea that college debt should be canceled ahead of that of poor people with high-interest credit cards is one of the most regressive proposals this country has ever seen.https://twitter.com/SenSanders/status/1143184737642700805 …
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I have been surprised to discover that we basically have no usury laws. In my business I am frequently offered factoring-based financing; when I do the math on these offers the APR is often over 100%.
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Of course the rules are different for lending to businesses, but consumer offers are not much better.
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A rare moment. I would support deciding on a max legal interest rate and retroactively applying it to credit card debt. Some people would get refunds.
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