Republicans & Democrats Agree, Loan Sharks Need To Be Regulated


Believe it or not, there are more issues than
you think that unite both the left and the right and taking on Wall Street greed happens
to be one of them. I’m not so, I’m not so sure that the Republicans
really are concerned about corporate greed, but whatever has happened here we, we see,
we see this developing where you have Bernie Sanders and Elizabeth Warren and AOC, they’re
all, they’re all out there saying, look, we need to do something about corporate greed
in the way that they were involved with loans. Things like credit cards. We need to jump behind it and we need to stop,
we need to stop these corporations from stealing from Americans. And so everybody seems to agree. That sounds like a good idea. Maybe we ought to, you know, stop them from
stealing from Americans. What’s your take on this story? I think this is interesting. Right now we see about 70% of Republicans,
73% of Democrats who all say we agree with this new plan that the Democrats have come
forward with to cap credit card and payday loan interest rates at 15%, you cannot go
above 15%. Prior to the 1980s we already had caps as
a country on interest rates. You couldn’t charge more than x amount. Reagan came along with deregulation. Bill Clinton came along with it. We got rid of the caps. They went crazy with it. Right now, even for somebody with really excellent
credit, your interest rate’s about 21% I believe, as of last week. Let me tell you what strikes me about this
story. Finally, the Democrats are talking about something
important. They don’t have this, they don’t have this
Schiff psycho, this guy that all he had, all he knows is his conspiracy babble. All he knows is Trump hate. Maybe, maybe the Democrats finally understand
that when you talk about important issues, you can bring in both sides. When you stop talking about conspiracy and
hate Trump, look, there’s plenty of people that hate Trump. We’re tired of hearing it. The conspiracy, Russia, the Russia conspiracy,
come on really? And so and so you’re going, but you still
have, what did they call him? Pencil neck Schiff. The, so you’ve still got this character out
there, Schiff, talking about these issues. On the other side, you’ve got AOC, right? You’ve got Elizabeth Warren, you’ve got Bernie
Sanders out trying to talk about real issues that maybe can help the Democrats win an election. Take it from there. They’re, they’re out there talking about things
that directly affect somebody’s wallet, their personal bank account, whether it’s Republican
or Democrat or whatever it is in between. They’re out there saying, listen, this isn’t
a partisan issue. This is a thing that affects a Republican’s
ability to take care of their family. It affects a Democrat being able to take care
of their family, and that’s who people want to hear. They want to hear, say, hey, this person has
a policy. Okay, they may be a Democrat and I’m a Republican,
but it’s a good policy that would directly benefit me. Somewhere along the lines in the last 40 years,
we got away from that. Politicians stopped offering policies. Look, here’s, here’s the truth. Over the most of the 20th century, you had,
20th century now, you had caps. You had say you can’t, you can’t get past
this point, when you go charging. And then all of a sudden there was deregulation. And when deregulation took place, all of this
bad stuff started occurring. You know, Wall Street stole from mom and pop. The economy crashed. You know, people were charged 80% sometimes
on, on credit cards. So, I mean, you know, you’ve gotta, you gotta
say we’re in a different time. Maybe the Democrats will get the, get the
message, start talking about table talk, dinner talk instead of social issues and crazy Schiff
conspiracies, and maybe they’ll accomplish something. Farron, thank you for joining me. Okay. Thank you.

40 comments on “Republicans & Democrats Agree, Loan Sharks Need To Be Regulated”

  1. Corduroy says:

    YES

  2. Timothy McCaskey says:

    Payday loan companies are loan-sharks who target the poor.

  3. Winston Shih says:

    Hopefully that means bipartisanship support for financial institution regulation

  4. Deacon Verter says:

    C'mon! Loan "sharks"? That's too much credit. How about loan…dung beetles?

  5. Asa Coe says:

    Republican and Democrat? Yeah when it comes to the actual working middle-class.
    But, not to the upper class they only have one party, that's the money Party.

  6. Yoda Man says:

    been seeing a commercial lately about a payday loan app. shits despicable.

  7. Me Not you says:

    The Russia β€œthing” is not a conspiracy.

  8. Brenda Best says:

    OMG !! Both parties agreed on an issue ??? Now can both parties agree that FRUITS are no longer required in the WH ?

  9. llljustcallhimDave says:

    Instead of going after the payday loans, why not just make sure people get paid a living wage. If they get paid enough to live on then the need for them will go away

  10. William Schutter says:

    Just another Deep State bone thrown to seduce the Leftists and quell the rage of the populists. The last two such softballs were supposed to curb this dreadful ill. Saw it all before. Am I the only one to remember this hoodwink of the electorate? Bull.

  11. New Era Mysteries & Conspiracies says:

    This video description is so Trump-tarded it makes a Bronx bar girl sound like a "Senator" when she just represents the CONGRESS of the 14th district of NY and that is all she represents. What a crock of two party deception from filthy freeloading lawyers and female secretary boys too punk to even sustain your own freeloading corporate lives !

  12. Eduardo Rafael says:

    I agre.

  13. Pyroman / says:

    They are even wrost in Canada they will give you for first loan for free or almost nothing to get you trapped in the cycle

  14. Asher8328 says:

    Glad you called these "businesses" what they really are, modern-day loan sharks.

  15. Crescent Fresh says:

    I'll shut up about hating Trump when he's at an office and behind bars along with the rest of his fucking retarded family.

  16. Brenda Buchanan says:

    Democrats got out s long time ago idiot listen to your self still calling Russia a hoax so who doesn't have it???

  17. Crescent Fresh says:

    Don't like payday loans? here's an idea don't fucking use them. Live within your means.

  18. Twostones00 says:

    Poverty is the very best friend a loan shark or bank can have.

  19. Usman Idris says:

    Loan sharking is part and parcel of failing America's capitalism.

  20. Gothic Dragon warrior Queen says:

    Fake News!!!πŸ‡ΊπŸ‡ΈπŸ–•πŸ–•πŸ–•

  21. Yvonne Camacho says:

    The Republicans can’t do it because they’re on the under the table Corporate payroll so they’re afraid of losing their big salaries and benefits, and won’t bite the bullet and take the pain. We have to do that ourselves.

  22. MARK MAHAN says:

    15% is still to high. I remember when I got my first car loan. It was 11% interest. And my father an accountant thought that was too high. I was in my 20's then. And the wages were 5 or 6 dollars at the time. So no markedly higher wages for working class. And cost have gone up astronomically for everything. So how can 15% be a good thing? No what we need is more like 10% or better yet lower. As well as controls on all pricing, goods, utilities, taxes, housing, and so on. While at the same time raising the wages. And a retroactive civil actions to recoup losses to the greater public. For the trillions extorted by policy, policymakers, and corporations. Never mind the loss of lives & livelihood. That can be directly attributed to deregulation as well as other criminally biased policies. Such as the invasion wars that have taken millions of US military lives. And the domestic lives in the US. That have crushed & subjugated the plural majority of Americans. Advancing the race to the bottom of ever factor of life & liberty. As finacial cost have made the growing numbers of Americans, nothing more than peasantry.

  23. Witchbell says:

    Politicians: Loan Sharks giving people money and ripping people off with interests and fees? That's the bank's job and they pay us!! We gotta crack down on these guys.

  24. Dave Thompson says:

    I'm lucky to have a "low interest" credit card… but since Dubya Bush it is no longer a 4% Fixed APR. It's considerably higher and I killed off all the other cards that jumped on the screw people dead bandwagon. But my gas card is still crazy at 24.99%, I pay it off weekly and see no interest. Amazon has a credit card and it's rather high too, if I use it to get a promo, I pay that mother off ASAFP!

  25. Red Leader says:

    But how will Republicans make money then

  26. Warren Abeshouse says:

    What a great name: The Loan Shark Prevention Act, to stop lenders of money charging obscene interest rates which are predatory in nature. That it has support from both Republicans and Democrats is encouraging. Let's hope it gets passed.

  27. MC Bruin says:

    That is what you get when you take regulation away.

  28. Rob Roland says:

    Get rid of predatory lending!

  29. lv amv says:

    Talk is cheep..Why speak about it if ur not gonna get it done?…Makes no since..

  30. Kenrick Eason says:

    Car title places too! How can it be called a loan when you just paying minimum payments forever and you miss one payment they coming for your vehicle.. so yes they ass need to be regulated too..

  31. pfeiffdog0811 says:

    You think payday loans are bad until you get a $34 nsf fee from the back for overdrafting $5. Where is the outrage over that?

  32. Togo Burrows says:

    poverty pimps

  33. GreensOplenty says:

    only reason things like these would be regulated is if theres a different scam in the pipes ready to be brought out

  34. Chris Smith says:

    Title loan. $500. 304% interest. 2 years to pay it off. Pay the minimum? They get $2500+. Don't do it. Beg borrow whatever you have to do, do NOT get a title loan!!!!!!!!!!

  35. Barbara LeMere says:

    Mitch McConnell will never let it come to a vote. Like everything else.

  36. discipleofsakura says:

    OMG. All this ranting about Schiff is nuts. They have a responsibility to both legislate and hold Trump accountable.

  37. Coach Hannah says:

    If we only had a Senate…

  38. Jurgen Pagel says:

    Have you ever wondered WHO these People are who charge OUTRAGES SUMMMMMMMS OF MONEY to People who have no other choice exept to go to a Loan Sharks ?? Wouldnt be some RICH GEEZERS who pool their Money together – Hedge Funds / Money Managers / Money Market Acc's / Wall Street / Stock Brokers / INVESTORS ( US Politicians ) etc….. . US Politicians are saying – OHH WE NEED TO STOP THAT FOR THE AMERICAN PEOPLE – in Reality , the same Assholes are invested through 2 – 3 different Buisinesses in EXACT THAT : LOAN SHARKING . Lets INVESTIGATE who these People are and who OWN THESE COMPANIES . Till this Day – NOBODY – has ever done that . FUCK THIS SHADOW BANKING 😈😈😈😈😈😈😈😈😈

  39. bigraviolees says:

    Bernie and AOC are not standard dems, they are the template for the future

  40. Jason Hoffmann says:

    Pap, you need to be a better lawyer and just stop with the name calling. That is what trump does, be better than trump!

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