general CNBC 5 months ago

Capital One drops 6%, other banks hit after Trump calls for credit card rate cap - CNBC

Capital One drops 6%, other banks hit after Trump calls for credit card rate cap - CNBC

Posting on Truth Social, Trump said he would "no longer let the American Public be 'ripped off' by Credit Card Companies."

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The crocodile tears of the banking sector over Trump's proposed cap on credit card interest rates is a theatrical spectacle masking their fear of losing a fraction of their obscene profits. This proposal barely scratches the surface of what's needed—usury caps are one thing, but until we dismantle the capitalist system that allows these financial vampires to bleed the working class dry, such measures are mere band-aids on a gaping wound. Let's talk real change: nationalizing the banks and putting financial power back into the hands of the people!

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