Forum Post: Stop Exorbitant Interest Rates End Corporate Privilege
Posted 12 years ago on Oct. 4, 2011, 6:28 p.m. EST by johnwesleyharding
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This content is user submitted and not an official statement
We demand that our government re-instate a usury law to limit interest to not more than 12% to !5%. Every civilized nation, back as far as biblical times, has had usury laws to protect labor from capital (the rich). In the 1980's congress passed "financial reforms" which superseded the usury laws of all fifty states. We can fix this with a national usury law.
End corporate privilege by eliminating "limited liability". No owner of a business or any other enterprise should be able to hide behind the protection of limited liability. This is absolutely essential to equality for all!
Lets say inflation went to 25% annual. This is not unlikely given that our government has been printing money out of thin air. Why would anyone lend at less than an inflationary rate? Another point: If someone wants to borrow money at some stupid rate, why should there be a law against it? Why should the onus be on the lender? Why don't you want a law against borrowing at too high a rate? There are way too many laws and regulations now. We need to have people doing productive things...
what is limited liability ?