Trump-appointed judge halts Biden administration credit card late fee cap

some_guy@lemmy.sdf.org to News@lemmy.world – 567 points –
thehill.com

Fox News won't bother mentioning this to their viewers.

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Every time we elect a Republican president we have to start rolling the ball all the way back up the hill again. Every goddamn time.

Good news! Apparently a lot of excitingly new young progressives are mad we haven’t rolled it back up high enough and are refusing to help!

Wait. Okay, not good news. Sorry.

Because they're not rolling it up fast enough! Can't you see? They just have to roll it faster and preferably all the way and then I'll get excited and help. Yup. Until then I'll be adding ankle weights to you too. And don't forget it's all your fault too.

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I don't blame people for giving up on a Sisyphean task

They just don’t recognize that they’ll be crushed first when it rolls back. Maturity is learning not to commit all of your attention to the top of the mountain, but to always be mindful of the boulder.

Maturity is learning not to commit all of your attention to the top of the mountain, but to always be mindful of the boulder.

That is beautiful and so very true.

I chuckled at the first commenter's description of this as a boulder, but honestly the metaphor is pretty robust.

Yep. Just vote and don't expect to get to the top. We're never getting there. We just vote and vote and vote and then eventually we die, pushing the same boulder the entire time.

It’s far from ideal, but the problem is that we let it roll back every 4-8 years. If Democrats consistently won due to progressive policies, the candidates would inevitably become more progressive to capture more of the constituency. Disengagement and disenfranchisement consistently cause the boulder to fall, leading to the lack of overall progress.

And because that doesn't happen, I just have to assume that Americans aren't nearly as progressive as everybody on the Internet thinks they are.

Don’t underestimate the efficacy of voter disenfranchisement and disengagement. Republicans don’t need to prop up Trump. People who loath him will vote for him simply due to party loyalty. Discrediting Biden is all it takes for a win.

So everybody has to vote for someone they hate otherwise the other guy they hate will be in power.

Great democracy everybody. Glad the wrong lizard didn't win.

I’m not defending the system. I’m suggesting we use it until we have a better option.

Whether you realize it or not, comments like that drive disengagement. It imparts hopelessness, which leads some to apathy.

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They are getting crushed anyway.

Even without "both sides", the situation worldwide is fucked. And "neither side" is going to change much. Yes, one is worse, but the better side still offers a bandaid over a gushing wound.

So I don't really blame them.

We just need to help them understand the system better. I voted third-party when was young, and many of my friends abstained. That was due to a lack of education about our government. It’s not about swaying them to vote one way or the other, but just to help them understand how our system functions. After that, if they want to vote for Trump with conviction, so be it. At least it’ll be an informed decision.

I will say it: fuck the system.

The sooner it's gone, the better.

It won't be pretty, but this isn't leading us to paradise either, we are killing the planet and can't even take the foot off the gas.

We need a hard reset, and it's coming. In the best scenario, the system is taken down before the enviromental collapse.

Are you an accelerationist? Do you believe making things worse faster will lead to systemic change for the better?

I believe the current path is leading to a bad ending, guaranteed.

And all I'm saying is that I don't blame young people who may think other options might lead to something better.

Anyone who believes there are more than two choices in this election was poorly educated on American democracy. I know I was when I voted Green Party at 20 years old. If I can help educate those that are as ill-informed as I was, I feel it’s my duty. After that, the choice is theirs.

The whole point I'm trying to make is that the system doesn't work, voting lesser of two evils never helped in any meaningful way.

We need to stop capitalism, or we will all die, or at the very least suffer greatly.

That's the whole point.

I'm not from the US, so I can't vote for either side anyway, but we are all fucked. I watch the children and feel sorry for letting them down. They will not grow up into a world of peace and prosperity, only desolation and dystopia.

So while yes, Orange man very bad, the system will kill us anyway. Fascism will take your country, but capitalism took our entire planet.

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It's like you're stuck in the water with a riptide pushing you away from shore. A really strong swimmer would just swim against it, but you're not, so you swim parallel to shore because then later you can swim back in. At least it's not pushing you further out.

Nope.

Just decide to quit and drown. This is what the young "I'll show you by not participating" crowd sounds like to me.

I've been swimming sideways to get out of the riptide for 24 years now. When do I get to start swimming back to shore?

Does drowning have any chance of ever getting you back?

Does swimming parallel to the shore have a chance of ever getting me back?

Well, yes. That's the thing: If you give up, you drown, if you keep going parallel, you never know when the tide might turn. If you're 24 (that's how I interpret your previous comment), you've only had the option of voting in one presidential election so far. In that election, progressives completed the monumental task of voting out an incumbent proto-facist. And for all of Bidens flaws, there can't be much doubt that a lot has been heading in the right direction. Of course, there's still a huge task ahead, but the previous election shows that Trump can be kept out of office, and the past three years show that things can get better.

Step 1: Forgiving student loans, Step 2: Working to reform the system.

Step 1: Pardon certain drug-related crimes, Step 2: Work to reform drug laws.

Step 1: Massive infrastructure investments, Step 2: More investment in public goods

Step 1: EO's to protect reproductive rights, Step 2: Legislation to do the same.

My point is this: Biden has shown that he is working to make progress, and that he can actually get stuff done. The problem is that there's a whole lot that needs doing, much more than anyone can do in two terms. We need to keep getting the best option into office, and we need to spend the next four years to ensure that the best option next time is better than Biden is now. If Trump gets four years, I fear that we'll have a near impossible job.

I'm actually 42. This is my sixth presidential election. I'm old enough to know this post is writing a check our government can't cash. It's too broken.

It's broken because of GOP and you're willing to give GOP more power to break it further

Calm your tits. I've been voting D like a good little neoliberal since 2000.

I don't need to give them more power. They've already elected two presidents without the popular vote, hold most of the Senate because it gives land more power than people, and the House because we haven't fixed representation in a century. Not to mention the fuckery in every single one of the states they can pull off.

The fact that Republicans are able to do that sort of shit is how it's broken. They're not the problem, they're a symptom of people winning game with broken mechanics. Like the end of Monopoly when one asshole has all the money.

No it's obviously only progressives fault dems keep only doing conservative like policies

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It would be nice if they actually rolled it back up at all instead of just putting a chock block in to keep it in place until a Republican comes along.

Which new young progressive lawmaker is refusing to push progressive reform? Or are you referring to voters abstaining?

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Kudos to the paper for adding "trump appointed" in the headline - it's relevant and too often the context is left out.

Yeh, but the late fees are good for people. Free market and free market. Drain the swamp etc. Just pay your debt on time. Or something, both side the same, yada yada.

A great example of the current presidency trying to do something good for a lot of people.

It's funny that the literal industry posterboy for not paying debts on time his entire career is now leading that crowd of "just pay your debts" 😂 He still isn't doing it himself, even with other people putting up the money to pay his debts for him

U.S. Chamber of Commerce

Oh. those people.

In case anybody doesn't already know this, the Chamber of Commerce is a non-governmental organization of private (and also publicly traded) business owners that just sounds like it's part of the government.

This ruling is a major win for responsible consumers who pay their credit card bills on time and businesses that want to provide affordable credit,” U.S. Chamber of Commerce Litigation Center Counsel Maria Monaghan said in a statement.

It's the same rationale they used when they tried to stop student loan forgiveness. But they accuse the left of having the mentality of crabs in a bucket.

Well, forgiving a bunch of debt without fixing the problem isn't going to stop the leak. You can fully expect that bailing out debtors will result in lenders offering riskier loans they expect to be forgiven. With schools turning into a debt-selling industry, buying that debt from private lenders using public money would be robbing not only the tax payer, but also the next generation of the opportunity for an education. You can't buy your way out of problem that isn't caused by cost (hint: greed).

All that to say, there should be debt caps on education before any kind of broad forgiveness. Or just federally subsidize up to a certain amount and then no one will go to pricier schools except those who can afford to without hardship.

Just let graduates file for bankruptcy. Debt caps will probably just have even more 'unforeseen' bad results.

The m9st fucked up thing of all is that he first tried to not make a ruling at all, stating that it should be ruled at Washington DC because there weren't a ton of banks out of Texas. But they kicked it back to him and forced him to make a ruling on it.

He kind of tried to be responsible/sensible.

He kind of tried to be responsible/sensible

No, he tried to make someone else the bad guy, and ended up caving in as well.

Yeah except that he ruled based on a previous ruling that the CFPB was improperly funded by Congress because it wasn't constitutional. This time it was properly funded so that no longer applies (basically ruling the way that the CFPB is funded -- via the Federal Reserve (they used to do some of the stuff that the CFPB now does) per the Dodd-Frank Act that Congress instead of being part of the normal annual budget is unconstitutional).

Seems like an easy target for SCOTUS to kick the lawsuit back down to the circuit court and tell the court that it was erroneous in its ruling. But the SCOTUS isn't really predictable anymore, so who knows.

No the SCOTUS IS predictable and in a bad way.

I listen to a lawyer podcast and they said you can tell when SCOTUS is going to to do something horrible. Because suddenly they play nice and there's a lot of unanimous rulings that come out. You know like this year...

It's crazy how political courts have become. Or didn't I notice it in the past?

Courts have always had a bias towards the status quo and moneyed interests. The Warren court was a historical aberration.

I don't know if this is political or just downright croneyism. He made the ruling because somewhere someone is getting paid by debt companies who don't want to lose money. This is beyond politics since its infected both sides of the aisle, this is just corruption. We need campaign finance reform and a ban on lobbying.

I think it's worse than ever, but I've only got my own observations to go on and not a fair study.