The current crisis is a credit crisis. Bernanke failed to expand money supply in the summer of 2007.
One of my concerns is the extremely high interest rates that creditors are allowed to charge consumers. As I recall prior to the 1970’s the highest allowable rate by law was a little less than 19%.
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February 28th, 2009 at 6:23 AM
The current crisis is a credit crisis. Bernanke failed to expand money supply in the summer of 2007.
One of my concerns is the extremely high interest rates that creditors are allowed to charge consumers. As I recall prior to the 1970’s the highest allowable rate by law was a little less than 19%.
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