Listen to: U.S. Sen. Bernie Sanders (I-VT)

When I was in the House, I was on the financial services committee. And the answer to your question is yes, and we’re working on that legislation. Right now because of the collapse of the middle class and the increase of poverty, you’re finding large numbers of American families who when they go to the grocery story, are buying groceries on a credit card. And despite the fact they are paying their bills every single month, the credit card companies are charging them 25, 28 percent interest rate. That is absolutely outrageous and a rip-off that cannot be tolerated.

Answered on Feb 20th, 2008 More