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Unlimited Interest Rates - Politics, Business, Civil, History - Posted: 25th Mar, 2009 - 3:51pm
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Post Date: 24th Mar, 2009 - 8:03pm / Post ID: #
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Unlimited Interest Rates
Unlimited Interest Rates
Thomas Geoghegan on "Infinite Debt: How Unlimited Interest Rates Destroyed the Economy"
The Obama administration unveils its $1 trillion plan to buy toxic assets from banks and restore the financial system. But should we return to the way it was? We speak with Chicago lawyer Thomas Geoghegan about his new Harper's Magazine cover story, "Infinite Debt: How Unlimited Interest Rates Destroyed the Economy." Geoghegan writes, "We dismantled the most ancient of human laws, the law against usury, which had existed in some form in every civilization from the time of the Babylonian Empire to the end of Jimmy Carter's term." Ref. Source 4
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Post Date: 25th Mar, 2009 - 3:51pm / Post ID: #
Rates Interest Unlimited
I believe that since the government is going to buy the risky investments the banks made to rescue them are we going to be better off? I feel that if the banks go back to doing business as they have in the past we all are going to pay more and more in interest rates than we need to be paying. I just hope the banks have learned something here.
TOPIC: Unlimited Interest Rates