An amendment offered by Independent Senator Bernie Sanders of Vermont that would have capped interest rates that could be charged to credit card holders at 15% was defeated in the US Senate.
Senator Sanders said that one third of all credit card holders are being charged interest rates of between 20 and 41 %. I believe that is called usury or loan sharking and it proves once again that the banks own the Senate.
This amendment to the credit card bill would have been very beneficial to so many people.
Of course our Maine senators helped defeat the amendment which would have helped many people. But one must remember that they are always looking to make sure their campaign monies come in and forget helping the people. Susan Collins has received one million dollars from the finance, insurance and real estate sector of the economy so she is certainly easily influenced by the financial institutions. She has also received over $300,000.00 from lobbyists. (http://www.opensecrets.org/politicians/industries.php?cycle=2008&cid=N00000491&type=C&mem=)
Olympia Snowe has raised $669,000.00 from the finance, insurance and real estate sector and $244,000.00 from lobbyists. (http://www.opensecrets.org/politicians/industries.php?type=C&cid=N00000480&newMem=N&recs=20&cycle=2008)
This certainly influences their votes. Now admittedly they had plenty of help in defeating this particular amendment which also underscores the way the financial sector can influence the votes. I don't know about you but I am tired of being the last in line when it comes to voting on issues that affect so many individuals.
A list of the roll call votes in this issue can be found at the following site.
My question is when do these politicians who are elected by the people begin to think about the people?
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