We should never manipulate markets that are very competitive and have been functioning so well for so long. The truth is about credit cards, every time there's a new entrant, it's so competitive. They offer 0% financing for six months. Now as a result of this jawboning, it'd be very easy for new entrants to come in and say, "Look, we'll put, charge 10% for the first year," which is what Trump wants, but if you all of a sudden start to manipulate or put mandates or try and control free markets, people will lose credit availability, and rates won't change long term. It's so competitive that the rates that are charged now take into account bad debt, the cost of funding all of the loyalty progra
We should never manipulate markets that are very competitive and have been functioning so well for so long. The truth is about credit cards, every time there's a new entrant, it's so competitive. They offer 0% financing for six months. Now as a result of this jawboning, it'd be very easy for new entrants to come in and say, "Look, we'll put, charge 10% for the first year," which is what Trump wants, but if you all of a sudden start to manipulate or put mandates or try and control free markets, people will lose credit availability, and rates won't change long term. It's so competitive that the rates that are charged now take into account bad debt, the cost of funding all of the loyalty programs. It's a free market, so let the market do its thing. I don't like government, any government, ever manipulating markets. It never ends well. It always ends badly. ♬ original sound - Mr. Wonderful
