Tucker Carlson Says Sanders and Ocasio-Cortez ‘Undoubtedly Right’ About Lending Shark Prevention Act
Fox News Host Tucker carlsonTucker Carlson Biden Mocks Fox Hosts: They Had ‘Altar Call’ On Vaccines Fox News Airs Public Service Announcement Telling Viewers To ‘Get Vaccinated’ Night Defense: Pentagon Chief Defends Milley after Trump’s book review | Discusses Critical Race Theory | Senior general says Taliban has ‘strategic impetus’ in war MORE Friday night posted rare praise for Sen. Bernie sandersBernie SandersSchumer leaves door open for second vote on bipartite infrastructure deal GOP blocks infrastructure debate as negotiators move closer to Sanders deal to campaign for Turner in Ohio MORE (I-Vt.) And Rep. Alexandria Ocasio-CortezAlexandria Ocasio-CortezOmar Reflects On Her Personal Experiences With Hate To Advocate For New Envoy Equilibrium / Sustainability-Presented By NextEra Energy-West Coast Wildfires Trigger Air Quality Alerts On East Coast Sanders to campaign for Turner in Ohio MORE (DN.Y.), saying progressive lawmakers were “absolutely, unquestionably right” to tackle the payday lending industry.
Carlson, a frequent critic of both lawmakers, momentarily praised Sanders and Ocasio-Cortez on the Loan Shark Prevention Act, which offers new restrictions on predatory lenders.
“No doubt many Republicans in Congress will oppose this bill, if only because of who sponsored it. Bernie Sanders and Ocasio-Cortez are obviously demagogues, ”Carlson said of the 2020 presidential candidate and congressman for the first term.
“They don’t mean half of what they say. The other half, they don’t really understand. They are not impressive. But on this one question, they are absolutely, indisputably right. “
Ocasio-Cortez and Sanders Thursday unveiled the measure, which would cap credit card interest rates at 15%, a notable reduction from current levels.
Carlson noted that the law would significantly help a significant number of people since the median interest rate on credit cards is 21.36 percent. According to Credit Cards.com, the median interest rate ten years ago was 12.62%.
“Banks, on the other hand, can borrow money from the Federal Reserve at 3% interest,” Carlson said. “Do the math. It’s a very good deal.”
The bill would also place the same 15% limit on consumer loans, effectively banning payday loans.
“There’s a reason the major religions of the world condemn usury and why societies have restricted it for thousands of years,” Carlson said. “High interest rates exploit the low. Credit card debt destroys people – not just chronically irresponsible people, but good people, honest people. “
Carlson denounced banking operations as “disgusting” and “bad”.
“So the real question is why did it come across a couple of childish socialists to point this out? Carlson asked, searching the two lawmakers.
The Fox News host then criticized Republicans in Congress for remaining on “autopilot, always on the side of the big banks rather than their own constituents” despite having supported similar legislation in the past.
“It’s a crazy strategy. This won’t end well, ”Tucker said. “What happens when you refuse to give people what they desperately need? They go elsewhere. Republicans shouldn’t be surprised when this happens. “