Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (528800)	11/18/2009 1:04:40 AM
From: tejek	Read Replies (2) \| Respond to of 1575535

Another day brings a report that the top banks are raising credit card interest rates – some as high as 29 percent, which would shame a Mob extortionist 29 percent would hardly shame a loan shark (I assume that's what he meant rather than extortionist, which would imply taking money by threat, not loaning it out at high interest rates), who might charge more than that per month or even in some cases per week. 29% could in fact be a reasonable rate given how much of a credit risk some borrowers are. Not that I'm exactly happy with all of their practices, such as increasing interest rates without any default, late payments, or increase in general market rates, hit on the borrowers credit rating, or other cause, but 29% interest rates to risky borrowers is hardly a betrayal. I am appalled at how you defend the indefensible. I pay a 19-21% rate on some of my credit cards and my credit rating is really good. Why don't you simply lay down and let them walk all over you.