Joe Biden has been denounced by the right wing media for stating the obvious, thisa economy will get worse after the holiday sales are digested and the real margins for retailers are reveled. The question becomes, "what is the plan, Joe Biden". Some of what is going on is due to the Bankruptcy Bill which Joe Biden and the ranking Democrats supported along with the Republicans in the middle of the Republican dominated Congress during the Republican Bush Administration. Contained within the Bankruptcy Bill was everything the Credit Card Industry based in Biden's Home State of Delaware, The provisions that Biden and other Democrats supported allowed the Credit card Companies free reign in raising interest rates, shortening the grace period, raising the late fess and legalizing loan sharking for those that issue Credit Cards.
Do you want to reverse some of the damage that you caused Mr. Biden? Twist some arms in the Senate to trash the current Bankruptcy Bills and push a separate Bill that deals directly with the illegitimate financial games of the Credit Card Industry. They should not be able to raise your credit card interest if you are late on your cable bill, nor should they be allowed to borrow money from the American People through the FED and then charge the American People 40% interest. Late fees should be limited to a small 1-2 % late fee not a flat 39.00 even if your minimum payment is only $15, this amounts to over 200% interest. This is your doing Mr. Biden, undo it.
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