Senate rejects credit card interest limits

This is a Democratic Senate???

Credit card companies enjoy gouging folks by levying confiscatory interest rates. (That's when they don't discontinue their cards altogether and take customers' signup fees with them - which VayaCard still owes me for.) Interest rates now run as high as 41%. To combat these ripoffs, Sen. Bernie Sanders (I-Vermont) introduced a measure to cap interest rates at 15%.

How did the 1½-party system react to Sanders's reasonable proposal?

Why, it throwed a big fitty-poo!

The Senate rejected the proposal 60 to 33 - in an obvious cave-in to the banking industry.

And some of these 60 are Democrats? Of course, most of the Democrats who opposed Sanders's proposal are the usual DLC suspects.

No wonder I switched to the Greens.

The states need to step up to the plate and start regulating credit card rates.

(Source: http://thecaucus.blogs.nytimes.com/2009/05/13/senate-rejects-limit-on-credit-card-interest-rates)