Bernie Sanders goes to bat for consumers, gets batted down

May 15, 7:18 PMDC Corporate Ethics ExaminerJim Cunningham

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My man Bernie. You can always count on him. He tried to set an interest limit on what credit card companies could charge at 15%. He failed to get the needed votes, but I appreciate him trying. You can always count on Bernie.
 

“When banks are charging 30 percent interest rates, they are not making credit available,” said Mr. Sanders, who noted credit unions are limited to 15 percent. “They are engaged in loan-sharking.”

You tell ‘em, Bernie.
 

But you forgot to point out…

Wall Street Watch reports in Sold Out (safe PDF download) that these banks are “sharking” us with our own money:
 

The Federal Reserve has been loaning public money to Wall Street firms at as little as .25 percent. These companies are then turning around and charging Americans interest rates of 4 percent to 30 percent for mortgages and credit cards.”

Oh, well. Nice try, Bernie. We’ll get ‘em next time.