Edwards nailed Obama on voting for NO cap instead of 30% out of HOPE for CHANGE

Proud2BAmurkin

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Tue Jan-22-08 02:11 PM
Original message

Edwards nailed Obama on voting for NO cap instead of 30% out of HOPE for CHANGE

Them credit card extortionists love them some HOPE and CHANGE

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Occam Bandage

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Tue Jan-22-08 02:12 PM
Response to Original message

1. He, along with many other Senators (it failed 3:1) believed it would supersede lower state caps.

He also voted for 10 other amendments providing caps; each failed narrowly.

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HiFructosePronSyrup

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Tue Jan-22-08 02:12 PM
Response to Original message

2. And Obama shot that argument down.

Because 30% is way to high.

Why does Edwards and Clinton want a 30% cap? Do they think we're stupid?

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Proud2BAmurkin

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Tue Jan-22-08 02:13 PM
Response to Reply #2

3. Take 30, then fight to lower it. Or get NOTHING, then fight to lower it...TO 30

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HiFructosePronSyrup

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Tue Jan-22-08 02:14 PM
Response to Reply #3

4. See post #1.

Your argument doesn't hold any water. Enough with the fairy tales.

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DJ13

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Tue Jan-22-08 02:17 PM
Response to Reply #3

5. "Take 30, then fight to lower it."

Yeah, because we all know the poor should stop bitching about paying 30% and just be happy they got credit, right?

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jackson_dem

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Wed Jan-23-08 08:10 PM
Response to Reply #5

13. Vote for 30, then offer an amendment to lower it even more

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jackson_dem

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Wed Jan-23-08 08:09 PM
Response to Reply #3

12. That is what an effective legislator would do

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catgirl

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Tue Jan-22-08 02:22 PM
Response to Original message

6. According to Edwards and Clinton, 30% interest is okay!

Well, it's NOT okay! How repulsive. I'm voting for Obama. He's the
only sincere top candidate.

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Marie26

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Tue Jan-22-08 02:41 PM
Response to Reply #6

7. Ack, no!

They wanted to limit the interest rate to 30% - now there's no limit at all. I hate that this is being twisted into a bad thing.

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catgirl

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Wed Jan-23-08 07:42 PM
Response to Reply #7

9. 30% is too high! It's a good thing that's it doesn't pass

Have you ever paid that much? You might as well file bankrupsy. You'd be
fighting a lost cause, NO ONE should be paying that much!

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Marie26

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Wed Jan-23-08 08:08 PM
Response to Reply #9

11. That's not it at all

Right now credit cards are charging 45% interest, loans are being issued at 1035%, & it could be a million percent if they want. There's NO LIMIT. This amendment would set a federal cap of 30% from the "sky's the limit" situation that exists right now. This was a good amendment, which is why almost all Dems voted for it, and the credit cards fought against it. I went into this more on this thread:http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=132&topic_id=4155217&mesg_id=4155934
But trust me, Obama did not do consumers any favors by opposing this amendment.

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catgirl

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Wed Jan-23-08 09:21 PM
Response to Reply #11

16. Consumers shouldn't be paying 30%

Edited on Wed Jan-23-08 09:22 PM by catgirl

If you're up to 30%, you're in deep trouble. It gets that high if you're
missing payments, or high risk. Accepting (voting for) that interest rate,
is the same as being in favor for these mortgage scams. Voting for this
kind of cap doesn't solve the problem. That's why he was not for it. Obama
saw the consequences, and voted with integrity.

The credit card companies need to be held accountable. Giving them a 30%
cap is basically letting them get away with murder.

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Proud2BAmurkin

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Tue Jan-22-08 02:49 PM
Response to Reply #6

8. Obama thinks the sky is the limit.

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catgirl

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Wed Jan-23-08 07:42 PM
Response to Reply #8

10. Quite the opposite, but you know that. N/T

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jackson_dem

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Wed Jan-23-08 08:11 PM
Response to Reply #10

15. That is the result of his vote. Too bad he couldn't vote "present"

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jackson_dem

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Wed Jan-23-08 08:10 PM
Response to Reply #6

14. thanks to Obama's strategy there is no limit now

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