Moral Bankruptcy

Think Progress found some flippity-floppity over in the Senate vis-à-vis the Bankruptcy Bill.

In 1991, 18 Senators who still serve today voted for a bill by Sen. Al D’Amato (R-NY) to limit the interest rate credit card companies can charge to 14 percent (the measure was consequently stripped out of the final bill). Those same 18 Senators voted a few weeks ago against a bill by Sen. Mark Dayton (D-MN) to limit the interest rate credit card companies can charge to 30 percent.

Why would 18 Senators, including co-sponsors of the original measure, vote for a tougher pro-consumer measure in 1991, and then vote against a weaker measure in 2005? Could it be that the more than $2 million these Senators took from the credit card/banking industry in the interim made them change their mind? Or, was there another reason? I’d say the public deserves an answer.

Perish the thought that our esteemed senators might have interests other than the good of the American people!