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Senator Ted Cruz Says He No Longer Believes in States' Rights

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Targetpractice1/11/2014 5:28:57 am PST

re: #174 wheat-dogghazi

Easy credit was a boon to the banks and the credit card companies (and collection agencies), but a nightmare for consumers. People got real used to buying stuff they couldn’t afford. In time, that business model was extended to mortgages. And we know how that turned out.

I can remember when banks paid something like 5.5% interest on savings accounts. That ended in 1980, too.

Thanks, Reagan.

Wasn’t the overabundance of cheap credit and the usage of it to get into shit that the average consumer really knew little about in terms of long-term ramifications how we got the Great Depression?