This morning in creeping presidential dementia (or whatever)
By 
I know it’s almost impossible to be shocked or even surprised any more, but this was Friday:
@realDonaldTrump
Please be informed that we will no longer let the American Public be “ripped off” by Credit Card Companies that are charging Interest Rates of 20 to 30%, and even more, which festered unimpeded during the Sleepy Joe Biden Administration. AFFORDABILITY! Effective January 20, 2026, I, as President of the United States, am calling for a one year cap on Credit Card Interest Rates of 10%. Coincidentally, the January 20th date will coincide with the one year anniversary of the historic and very successful Trump Administration. Thank you for your attention to this matter. MAKE AMERICA GREAT AGAIN! PRESIDENT DONALD J. TRUMP
OK whatever, grandpa’s just rambling again about something or the other.
President Donald Trump said that credit-card lenders would be “in violation of the law” if they don’t heed his call to cap interest rates at 10% for one year.
Trump, speaking Sunday to reporters on Air Force One as he returned to Washington from Florida, doubled down on his demand that card issuers lower interest rates to 10% and keep them there for one year. He set a Jan. 20 deadline for compliance.
If the rates have not been capped by then, Trump said, “then they’re in violation of the law.”
Trump thinks he changed the law because he posted something on his social media grift site.
Note, gentle readers, the demure way in which the good folks at Bloomberg. America’s leading source for financial news, characterize this shall we say rather striking development:
Trump’s demand to cap rates was not backed up by legislation and he provided no explanation for how the lenders would be breaking the law.
The actual explanation would of course be something like “Trump is too stupid/arrogant/narcissistic/increasingly demented to take into account that ‘technically’ you can’t change the laws that regulate a couple of trillion dollars’ worth of debt coursing through the American banking system by simply declaring that it is so.”
As a consequence of this minor misunderstanding of how things happen in the world, banking stocks are way down this morning.
Fascist enabler and the world’s number-three ranked tennis player Bill Ackman had Susan Collins-depth furrows crease his botoxed brow:
Bill Ackman did not hold back when sharing his thoughts on Donald Trump’s plan to temporarily restrict credit card interest rates.
In a post on X that was later removed, the hedge fund manager argued that Trump’s proposal for a one-year 10% cap was a misstep, cautioning that it could prompt lenders to cancel cards for millions of users.
“This is a mistake, President,” Ackman commented. “If lenders can’t set rates high enough to offset losses and earn a reasonable return, they may revoke cards for millions, forcing people to seek out high-interest loans from less reputable sources.”
It’s of some note that Ackman deleted this criticism of the Tribune of the People shortly after posting it.
If these people all end up broke it will be less than they deserve. (For what they actually deserve, see illustration above).
. . . I didn’t even bother to post this, which Trump copied from a Wikipedia entry before it was edited away:
