Comments by "Babu" (@Babu-kr3cr) on "Why More Americans Are Being Pushed Into Poverty | CNBC Marathon" video.

  1. They need the 18% interest rate cap. These 30% interest rates are loan sharking and usury. If the banks want their money, they have to give all these struggling borrowers some hope of paying it or they will default or give up and go bankrupt. Also they pull the rug out with the balance transfer cards. They will continually offer you the option to transfer, and then suddenly it is gone so you have nowhere to move your balance to. When you open a new card, it is less then the amount you need to transfer after building up a large available credit with the current card.
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