Oct 27
You thought today's consumer news was bad? Just wait. Senator Chris Dodd, who has suffered from the impression that he is too close to the banking industry, has proposed an incredibly stupid immediate rate freeze on credit cards. Tom Brown at Bankingstocks.com explains why this is so stupid. If Dodd were to get his wish, the first result would be to severely restrict the flow of consumer credit, which is precisely what the economy does not need at this point in the cycle. Here’s
