Actually not. A number of years ago lobbyists from major banks succeeded in amending the federal banking laws to allow them to conduct interstate business under terms that would violate state anti-usury laws. That's why credit cards are issued from places like South Dakota or Delaware since those states don't have strict anti-usury laws.
The net result is mainstream credit card companies charging rates that would have been illegal forty years ago. It is ironic that banks today insist that there would be no credit available to anyone if they couldn't charge such high rates, but they were successful for many years under the state anti-usury laws.
We can thank the federal government for legalizing loan sharking.
If you are getting screwed by the government... thank a lobbyist and a weak minded, vain power hungry politician.
Hey congresscritter old buddy old pal, you’re the greatest, let’s do dinner. How about we fix you up on a date with this hot babe and make a “donation” to your campaign fund. We just love you and think you are just a Great American. Why, you are such a brilliant strategist and have such vast business experience from all your years of kissing babies and screwing people you’d fit right into our organization. We’ll pay you a million a year to help us with our public relations or something like that.
We need a tariff on cane sugar to protect the American Farmer (flags wave, patriotic music plays and red white and blue rockets go off). Do you think you could help out with that on your committee to help out the American Farmer? Heck no, there’s nothing in this at all for us, we just make corn syrup.
Why heck no, this high fructose corn syrup is just as healthy as cane sugar. It’s all bad for you really isn’t it? No, we just want to protect the American Farm Family. This corn syrup is Made in America from American Corn, nothing finer. Same stuff as cane sugar, just different by one or two molecules.
And so it goes every single day somewhere in this corrupt nation that once was a Republic and is now nothing more than a rabble.
I see. Thank you. It’s a bit shocking, actually, isn’t it.