Clueless at the New York Times
April 13, 2009 | Consumer Federation of America, federal legislation, industry, industry critics, media coverage | Comments (0)They oppose the Gutierrez bill, support a 36% rate cap in today’s editorial:
A better option is already in place in some states and for the military — keeping short-term or small loans under a 36 percent annual interest rate, which is high enough. Representative Maxine Waters, a Democrat from California, assessed the Guttierez bill correctly when she said: “We’ve got to resist any attempt to make it look as if we are cracking down, when in fact we are opening the door to more abuse.”
As we said below, the military is now on charity. Is that what the New York Times is proposing for the rest of the country? Oh, and they spelled Gutierrez wrong!
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