Cheap Credit

[Speaker to Animals]

The better solution is to remove the government from enforcing usery at all.

If somebody defaults, and the state determines they can reasonably pay, then subtract from the principle what they already paid, and assign the difference from their accounts. Interest should not be considered at all.

Interest is an evil and we will continue to pay the price for as long as we turn a blind eye to this form of theft.

[jbird4049]

The better solution is to remove the government from enforcing usery at all.

If somebody defaults, and the state determines they can reasonably pay, then subtract from the principle what they already paid, and assign the difference from their accounts. Interest should not be considered at all.

Interest is an evil and we will continue to pay the price for as long as we turn a blind eye to this form of theft.

I don't go that far, but we kinda agree. What honest reasons but greed is there for the 20% plus interest and extra fees, penalties, and service charges on credit cards and loans? They usually go far beyond covering any risks that banks take.