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Economics Discuss Thad Cochran and others block bill to freeze credit card interest rates at the Political Forums; YouTube- Republicans Block Dodd's Effort to Protect Consumers from Credit Card Rate Hikes YouTube- Republicans Block Dodd's Effort to Protect ...

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Old 11-18-2009, 08:36 PM
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Default Thad Cochran and others block bill to freeze credit card interest rates


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Dodd went to the Senate floor to ask for consent for the Senate to take up and pass his Credit Card Rate Freeze Act, which would prevent credit card companies from hiking interest rates, fees and finance charges on customers’ existing balances until Credit CARD Act protections take effect in February. Regrettably, Republican Senator Thad Cochran (R-MS) objected to Dodd’s request, blocking the bill from Senate passage.



“Consumers obviously have a responsibility to spend within our means and to pay what we owe. We bear that responsibility. But the credit card industry as well has a responsibility to deal with their customers honorably. There is nothing honorable about what’s happened with these significant rate increases and fees. Most importantly, they don’t have a right to rip off American families, especially when the Congress has already gone on record opposing the very actions they’re engaging in,” Dodd said on the Senate floor.



“This will provide us a window of about 12 weeks between now and around the first of February, during this holiday season, to just put a stop to these outrageous rates and fees being charged to people,” Dodd continued.



“Ninety colleagues here voted for the bill this spring. Why wouldn’t you join us today?”



“On behalf of several Senators on this side of the aisle, I object,” said Senator Cochran.
I find Cochran's (and others) actions in the republican party on this issue to be deplorable. What could they possibly have against this?
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Old 11-18-2009, 08:45 PM
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Default Re: Thad Cochran and others block bill to freeze credit card interest rates

Cochrane's been bought and paid for. What else could it be? You could count the honest men in the Senate on one hand.
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Old 11-18-2009, 09:27 PM
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Default Re: Thad Cochran and others block bill to freeze credit card interest rates

what a puke
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Old 11-18-2009, 09:46 PM
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Default Re: Thad Cochran and others block bill to freeze credit card interest rates

I've read approximately a dozen articles looking for an explaination as to WHY Cochrane objected (said on behalf of himself and "several Republicans")...

No links that I have found give the reasoning...The only reasoning we have so far is speculation...

Could it be procedural?...Could it be because of donations or Cochrane being "in the tank"?...Could it just be because they're talking a bout a bill that was already passed and now they want to change the dates?...

I don't know...They are all possibilities...
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Old 11-18-2009, 09:57 PM
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Default Re: Thad Cochran and others block bill to freeze credit card interest rates

Apply Ockham's Razor to this question and you have your answer.
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Old 11-18-2009, 11:05 PM
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Default Re: Thad Cochran and others block bill to freeze credit card interest rates

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Originally Posted by cnredd View Post
I've read approximately a dozen articles looking for an explaination as to WHY Cochrane objected (said on behalf of himself and "several Republicans")...

No links that I have found give the reasoning...The only reasoning we have so far is speculation...

Could it be procedural?...Could it be because of donations or Cochrane being "in the tank"?...Could it just be because they're talking a bout a bill that was already passed and now they want to change the dates?...

I don't know...They are all possibilities...
I'm apparently a couple of scotchs (scotch's? scotches?) beyond performing any useful search on this...do you have some links I could perhaps peruse tomorrow? The question burning in my mind at the moment is HOW IN THE HELL CAN AN OBJECTION BY A SINGLE SENATOR KILL A MOTION OR WHATEVER THE HELL DODD WAS ASKING FOR?????

At the moment in my scotch blurred world this sounds like the kind of classic political bullcrap that both sides engage in.
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Old 11-18-2009, 11:43 PM
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Default Re: Thad Cochran and others block bill to freeze credit card interest rates

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Originally Posted by jabbo View Post
I'm apparently a couple of scotchs (scotch's? scotches?) beyond performing any useful search on this...do you have some links I could perhaps peruse tomorrow?
they're not worth it really...

USA today...

Huffington (through google)...

Senatus...

capitolwatch...

Dodd's own website...

The Hill...

Every one of these (at this time at least), NOT ONE of them gives an explanation...They JUST say "It happened"...

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Originally Posted by jabbo View Post
The question burning in my mind at the moment is HOW IN THE HELL CAN AN OBJECTION BY A SINGLE SENATOR KILL A MOTION OR WHATEVER THE HELL DODD WAS ASKING FOR?????
Procedural...

Dodd wanted it to be speeded through with a quick debate instead of normal process...

Was this objection done on principle and not the bill itself?...Did Dodd sneak in other provisions?...Amendments?...Earmarks?...

These are things we DON'T KNOW...

Thad Cochran could very well be in the tank or a puke or a scoundrel or 50 other terms...

But I can't say that based on what's been reported...YET...

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Originally Posted by jabbo View Post
At the moment in my scotch blurred world this sounds like the kind of classic political bullcrap that both sides engage in.
I guess that's why I finally understand your posts...
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Old 11-19-2009, 08:20 AM
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Default Re: Thad Cochran and others block bill to freeze credit card interest rates

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Originally Posted by cnredd View Post

....

I guess that's why I finally understand your posts...
Hey, I resemble that remark! I'm not ALWAYS liquored up...at least not during the day....

Maybe we all should have to breathe into a breathalyzer before we post, and a smiley indicating our level of inebriation will be automatically attached to our post....

Now that I think of it, maybe we should all have to take a quick IQ test instead and then have a smiley indicating our level of intelligence attached to our post!
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Old 11-19-2009, 08:25 AM
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Default Re: Thad Cochran and others block bill to freeze credit card interest rates

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Originally Posted by cnredd View Post

....

Procedural...

Dodd wanted it to be speeded through with a quick debate instead of normal process...

Was this objection done on principle and not the bill itself?...Did Dodd sneak in other provisions?...Amendments?...Earmarks?...

These are things we DON'T KNOW...

Thad Cochran could very well be in the tank or a puke or a scoundrel or 50 other terms...

But I can't say that based on what's been reported...YET...

....
Well, there it is...Dodd was trying to do his thing in a way that Cochran objected to - political gamesmanship on Dodd's part so that he could make the opposition look bad, since he could have done his thing in the normal way.


As a deep thinking philosopher once said:

"Surprise, surprise, surprise!!!"
G. Pyle
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Old 11-19-2009, 10:11 AM
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Default Re: Thad Cochran and others block bill to freeze credit card interest rates

Does anyone know what else is in the bill? Maybe there is something in it beside just having to do with credit card rates and fees! Just asking!
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