Hillary voted to cap credit card interest; Obama voted not to cap them



This long blog has many good cites about Obama’s vote against capping credit card interest rates, and other actions of his favorable to corporate interests.

Here is more detail about Obama’s vote against capping credit card interest, at a site with lots of interesting stuff. I’ve verified it; they are quoting a Chicago Tribune profile last summer (not the recently sanitized one).

To some liberals, the proposal was a no-brainer: a ceiling of 30 percent on interest rates for credit cards and other consumer debt.

And as he left his office to vote on it, Obama planned to support the measure, which was being considered as an amendment to a major overhaul of the nation’s bankruptcy laws. http://www.cashvally.com


But when the amendment came up for a vote, Obama was standing next to Sen. Paul Sarbanes (D-Md.), the senior Democrat on the banking committee and the leader of those opposing the landmark bill, which would make it harder for Americans to get rid of debt.



"You know, this is probably not a smart amendment for us to vote for," Obama recalled Sarbanes telling him. "Thirty percent is sort of a random number."

Obama joined Sarbanes in voting against the amendment [….] There remains no federal ceiling on credit card interest rates. To help in your credit consolidation or get best debt help advice just visits the given opportunities/websites.




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