@Michele Divilbiss... But, Tommy is a like-able dufus. Based on his 'budgeting prowess', during his time as Governor,Thompson should have no problem collecting votes from the moderate left. I'm not sure that Wisconsin is in a state of mind to accept another fiscally conservative Senator.

The reason to do it is that the government should not be dictating what interest rates can be charged by credit card companies...

Freedom Bren, that was the reason.
Anytime you can get government out of a private sector is a reason to celebrate.
I mean, he was paying back the Koch Brothers with higher interest rates the daily kos told me so

@CowDung -- You have a problem with laws against usury? 18.5% isn't enough for you?

If you think that 18.5% should be the high limit, then don't use credit cards that charge more than that. Seems pretty simple to me...

Are there people with guns being held to their heads while they're forced to apply for credit cards, Randy? Do we have to protect everyone from the crappy decisions they may make in life? Why don't we just outlaw personal responsibility altogether? That way no one would have to fret over all the possible combinations of bone-headed moves one might make to get themselves into trouble and initiate legislation to prevent the ramifications of having done so.

Bren@ Doyle had eight years to fix "the mess". He managed to steal from the transportation fund and the medical malpractice fund to balance his budgets. Walker inherited an even bigger mess from Jim "BINGO" Doyle.

No, Bob, but it's quite a shock when the interest rate on an already existing credit card goes up sharply. You can argue that no one should carry a balance (I don't) but a single late payment (which also can happen through no fault of the consumer) can end up costing a lot in interest charges.

Cant afford the Credit Card late charges? Use your Debit Card.

I don't have a debit card, Jay. But then again, I'm the sort of credit card customer the card companies hate -- I pay off the balance every month, with the except of maybe one or twice carrying over a huge charge.

I've never been dumb enough to fall into credit card debt. But not everyone is so lucky.

@Bren -

Competition amongst the credit providers will set rates accordingly and keep them relatively low for good credit risk applicants. After all, credit is a voluntary privilege, not a mandatory right. And if you don't want to pay accordingly for exercising that privilege, then don't take the credit. Pretty simple, right? Especially given how the Fed Reserve is keeping interest rates artificially low via its discount window policies and so-called 'quantitative easing' practices!

Actually, Bob, this would be about companies that change the interest rates after the fact. Some companies are not above entering a payment a little bit late so that the higher interest rates can kick in.

If you're okay with the government outlawing things like gambling and certain sexual behaviors, then you should have no problem with outlawing usury.

I'm fine with the government legalizing gambling and certain sexual behaviors...

What Cowdung said.

I seriously doubt that few, if any, interest rate bumps occur outside the realm of prior notification of, at very least, the conditions of the agreement by which a card is obtained. And if you don't like the service you're getting, change cards. Waiting for the government to fix everything you don't like in life is not only a bit foolish, it's probably a bit frustrating as well, I imagine, since it's unlikely to happen.

Can I get a clarification on which sexual behaviors YOU deem as illegal and which are legal? So much for personal freedom.

I don't know about CowDung, but I'd say any kind of sexual behavior that involves a non-consenual party or one who isn't legally able to give their consent should be (and is) illegal. Specific examples would be rape, pedophilia and bestiality.

I'd love to hear your defense of those behaviors on the basis of personal freedom, Say What?

I am in agreement with Bob on the list of things that should be illegal. I don't think that one can defend non-consensual sex by citing 'personal freedom'.

Well, good, I was worried that you were going to say no to sodomy and fellatio. I mean, where would this country be without those.

Say What? far be it from me to suggest you not be allowed to stick whatever, wherever - whether it be with a compliant partner or all by your lonesome. As long as I don't have to see it or hear it I could care less.

What's this about sharing money? There used to be anti-usury laws in place about how much interest anyone could charge on a loan, and most people were okay with that. This has nothing to do with wealth redistribution. It's about regulation of predatory lending practices.

Randy,
You wouldn't suppose that these companies could collude on what rates to charge and therefor limit "free market" economy. And, what could possibly be the problem with predatory lending. As long as its not happening to me its awesome.

Collusion is illegal. If you suspect collusion, you should report it. It's taken very seriously in all industries and lines of business and the penalties for engaging in it are extremely high, particularly on the level you're suggesting. The burden of proof is not exceedingly stringent, which is why most companies go out of their way to prevent even just the appearance of the opportunity for collusion.

@Bob McBride -- Complain to whom and about what? If a 28.5% APR is perfectly legal, why shouldn't they all charge that? It's the consumer's fault for having the card in the first place.

Randy - you lost me there, unless you're referring to my comment regarding collusion. Everybody charging the same maximum rate because they can isn't collusion. Everybody, or even just two competitors, getting together and agreeing to charge a certain rate or not to charge below a certain rate, is. If you suspect collusion, you'd contact the body charged with governance of the industry in question.

If that wasn't what you were referring to, clarify,

@Bob McBride -- I was referring to your remark on collusion. People will charge what the market can bear, so how could one tell if they're colluding or not?

Randy,

If people are charging "what the market will bear", then by its very definition they are not colluding to set a price. Why would you risk entering into an illegal agreement with a competitor when the best you can expect in return for doing so is the same price you'd get w/o doing so?

So collusion is illegal, therefor it doesnt happen? I would suspect that it happens more than you or I would like to imagine.

Based on what?

@patchreader 123 -

Agreed. There's a certain arrogance about him that just doesn't sit well. He's definitely changed since becoming a 'conservative' media icon.

Precisely -- you just have to have a politician to make it legal for you.

Payday loans and rent to owns count on extremely poor math skills to hide from their customers how badly they're getting fleeced.

As for Mary and the age of consent, you lead my mind in sacrilegious directions. "Local DA Brings Charges Against the Almighty In Case of 15 Year Old Virgin." We'd have a hard time finding a jury of His peers.

Oh, don't worry, I would never condone an act which violates the freedoms of others. So, sex with a minor, rape, or any other violations of others freedoms are obviously a problem. Its the "your free to do what you will, and every else the same" libertarian thought process.

Maybe what we need to do, Randy, is work on people's math and money management skills. If we can reduce the number of folks who are apt to fall "victim" to payday loan car title loan and rent-to-own operations, perhaps we wouldn't see those places popping up like weeds.

I did jury duty, in Waukesha County. They paid us a few dollars a day, except for some people whose employers continued their pay while they were doing their civic duty. I don't think you'd find many of those anymore. But I didn't think it was all that easy to get out of serving jury duty.

It was an interesting experience, but I don't think I'd ever trust my fate to a jury. unless I were naturally the sort of person who elicits sympathy. kinda like Santa Claus.

David,

Four years ago I got called in for jury duty in Milwaukee Coiunty. I was paid, given a parking pass (for an off-site lot at the time) and my employer cooperated (deducting the amount of compensation from the court system from my paycheck, essentially). I would not have been able to get out of jury duty based on the fact that I had a job, regardless of how "important" it might have been and despite the fact that I was compensated based on how hard I busted my a-- to make a living.

I don't know where you came up with your information, but it doesn't jive with my personal experience at all.

They were working on the parking lots at McArthur square.

You know David I could have bitched about it and complained about how it's not a perfect system but I actually consider it a part of my civic duty. I didn't need to be coddled and made whole for doing it. I've had periods of self-employment in my life and I've been successful enough at it that I certainly could have forgone the time requested of me to do so (and, btw, you have access to wi-fi in the area when you're sitting around waiting - I was able to keep in touch with my customers).

As for CEOs, etc, etc....do you really want people who think they're too important to do jury duty and ticked off that they have to be there sitting on yours?

So would you rather have a "jury of your peers" where you get to define what that ism which may include folks who are highly reluctant to be there and, thus more likely to side with the majority just to get out faster, or one that's made up of folks from those groups you referenced above, who perhaps you might not consider your "peers", but who are there because they accept as being a part of society and, as such, take it seriously?

I guess what I'm getting at here is that I don't really understand your issues with the system. I don't think the rate of compensation, the ability to park your car for free, a free meal or a complimentary water bottle (which is something I got when they held some sort of "appreciate your jurors" thing going on the week I was there) is going to be a deal maker/breaker one way or the other for those called for duty,