Speaking in Brampton today, Jack Layton promised that an NDP government (cough) would cap credit card interest rates at prime plus 5% and roll back transaction fees.
This sort of loopy nonsense is where the NDP loses me. Not that I particularly like siding with the banks, but in an ostensibly “free” market (and yes, I know that’s a loaded and even misleading term), the government shouldn’t have the ability to cap the interest rates that lenders charge their customers. Perhaps next they would like to dictate what the appropriate level of wages and prices should be… I mean, why just stop at the banks and credit card companies?
By the way, I have to retract something said in a previous post about the NDP allowing comments on their YouTube videos – apparently, they do not. So, in that respect at least, they’re COWARDS too… just like the Harper Conservatives.