XPost: fl.politics, houston.politics, tx.politics   
   XPost: alt.abortion, talk.abortion   
   From: Intelligent@savetheworldmsn.com   
      
   Prime + 5%   
   = Federal Funds + 8% basically.   
      
   And that should be the max credit card interest rate allowed, is an idea,   
   unless   
   anyone is against it.   
      
      
   The Prime rate is presently 3.25%:   
   https://institute.jpmorganchase.com/about/our-business/historical-prime-rate   
      
   Prime is the rate charged to the most credit-worthy borrowers, on secured   
   property.   
      
      
   And the Federal Funds rate is presently 0%-.25%:   
   https://tradingeconomics.com/united-states/interest-rate   
      
   Federal Funds is the rate the Fed lends at, to Banks to meet their overnight   
   reserve requirements.   
      
      
   When the Federal Funds rate changes in the future, the max allowed credit card   
   rate would change, but only for new purchases.   
      
   Banks already repackage credit card balance and risk and sell them to other   
   lenders, so they can get out of the fixed rate.   
      
      
   The most subprime CCC Bonds presently pay about 11%, with a 50% default rate,   
   which equals 5.5%, so this would be less than credit cards, which are   
   unsecured.   
   https://www.wsj.com/market-data/bonds/benchmarks   
      
      
   Reduce Max Credit Card Rate To Prime + 5%   
      
      
   Currently 3.25% + 5% = 8.25%   
      
   Likewise Federal Funds + 8%   
   Currently 0.25% + 8% = 8.25%   
      
   --- SoupGate-Win32 v1.05   
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