I was looking at a credit card solicitation recently and also at the super high interest rates. People, if our congressmen and women and president were really worried about us (the middle and below classes), don’t you think they would act and try to do something about this outrageous loan sharking and not the big bank and Wall Street lobbyists?
For example: A $1,600 loan at the 27 percent interest rate requires a $53 minimum payment which means $17 is going on your loan and $36 in interest to the bank. I now see how people go bankrupt and stay in poverty. Maybe instead of arguing among ourselves on which party is best, we can write or call our congress people to do something for our regular class citizens. Really! This has been going on for years. Try and make some dollars on CDs and look at the wide difference. These type of things would really help our U.S. citizens.
Howard Butler, Waterloo