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Pastimes : Where the GIT's are going -- Ignore unavailable to you. Want to Upgrade?

To: Oral Roberts who wrote (128828)12/28/2006 2:06:28 PM
From: PatiBob  Respond to of 225578
 
I just found this:

"The next step was to abolish the usury laws. Former President Jimmy Carter led the way and all our state governments followed. Their reasoning said that our laws did not provide an attractive enough income for foreign investors. What a funny joke that was! Thank you Jimmy Carter for 36% legal interest rates instead of the old 8% legal rate."



To: Oral Roberts who wrote (128828)12/28/2006 6:32:08 PM
From: Ish  Read Replies (1) | Respond to of 225578
 
<<yes and they also allowed banks to renegotiate fixed rate loans which killed the farm economy in my area.>>

Changed all the credit things. Companies like Sears made their credit department a spin off. You buy a freezer and it didn't work, you still had to pay.


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