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If we don’t put a cap on credit card interest rates, I’m gonna become an even bigger libertarian pic.twitter.com/9bGq3e0ulK

— Jonathan Slotkin, MD (@slotkinjr) September 23, 2024

I’m old enough to remember when interest rates were capped at 10%. Anything above that was considered usury, a now archaic concept relevant only to Ezra Pound scholarship (graduate school education, represent!). Those laws were scrapped because Voelcker raised interest rates to double digits to cure double digit inflation (“real inflation” to you, punk!).

And now I’m more radical than Bernie? (BTW, we knew interest rates in credit cards would never come back down. 40 years later, we were not only right, now we’re socialists*?

(*Not that there’s anything wrong with that!)