In yet another piece of revisionist brilliance, the pillar of intellectual fortitude formerly known as Barney Frank has passed legislation that will.... lower credit card interest rates.
Yes, ladies and gentlemen, this horrific deja vu is truly a massive glitch in the administration's matrix. Let's recap:
1) ZIRP (that's Zero Interest Rate Policy for you lucky souls who do not know this acronym)... yes, not even Greenspan sunk so low
2) Promotion of rampant TALFage, aka securitization