Thursday, September 19, 2024

Desperate Trump Embraces Socialism

Donald Trump made headlines Wednesday night, promising a crowd in New York he would, if restored to the White House, put a "temporary cap on credit-card interest rates ... at around 10%," if he were elected. Doing so would require Congress to pass legislation, a move lawmakers on both sides of the aisle have proposed in recent years. Consumer banks like JPMorgan Chase and Citigroup earn a tidy share of the roughly $120 billion in credit-card interest and fees Americans pay each year, and industry groups have fought past efforts to cap fees by arguing that it would make it difficult for Americans to get approved for credit cards. Meanwhile, the analyst community isn't taking the former president's proposal too seriously, and is instead looking at Trump's bank-friendly first term as a guide for how investors should play a second Trump term, should he win.

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Analysts for the investment bank KBW argue in a Thursday client note that "Trump could yield a deregulatory boost" for the financial services sector, while a Harris victory would lead to a "continued overhang" brought on by aggressive regulation.

"The Trump administration could yield significant regulatory leadership change," wrote the analysts, led by Matt Kelly, adding that banks, consumer finance companies, brokers and title insurance firms could be those most poised to benefit.

Comments

So in the past months a desperate candidate has promised...

Cheap health insurance (though he doesn't have a plan)

No taxes on tips.

No taxes on social security (Eff you Reagan).

Capping credit card interest at 10%

Cutting auto insurance in half.

He sees his candidacy circling the bowl and is now trying anything though nothing will get past the GOP.

#1 | Posted by Nixon at 2024-09-19 03:42 PM

@#1 ... So in the past months a desperate candidate has promised... ...

Yup.

The question that lingers in the air is --- does fmr Pres Trump really intend to do that should he win the Oval Office?

Or is he just trying to get the votes (any votes) to get back into the Oval Office, and then he'll return the the no-guardrails Trump?

#2 | Posted by LampLighter at 2024-09-19 03:48 PM

does fmr Pres Trump really intend to do that should he win

Well, based on the fact that our southern border is lined with a glorious wall, and Hillary Clinton is in Prison.

I think we can accept all of Trump's campaign promises as fact.

#3 | Posted by ClownShack at 2024-09-19 03:52 PM

"he'll return the the no-guardrails Trump?"

#2 | POSTED BY LAMPLIGHTER

A pig he is and a pig he will remain.

#4 | Posted by Zed at 2024-09-19 04:04 PM

"Vote for me, I'll give you a pair of my shoes, believe me."

#5 | Posted by LegallyYourDead at 2024-09-20 04:01 AM

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