See: Usury Laws.
You'd think credit card companies would be guilty of usuary. They charge something like 2% fees on late cards, i.e. if you carry forward into next month an unpaid balance. And you'd think, "Well, 2.5% isn't all that bad, especially in the modern era, where The Fed is loaning money at less than that, and mortgages commonly go for under 4%." But then you read the fine print, and you realize that it's 2.5% per month. Or some 30% (compounding an issue as well) per year.
Rates that high, you'd think, would be so high that they're illegal (that's what usury is)...but they're not. You'd imagine Visa and Mastercard and the others having a few lawyers sitting around opining on this issue. The usury rate must be even higher. Maybe 40%?
Yeah, oof. Just pay your bills. Or don't buy the earrings.
Related or Semi-related Video
Finance: What makes a fair market...fair...0 Views
Finance allah shmoop what makes a market fair Well fairness
Okay so what is farewell Honest advertising for one like
if we're talking about the market for stocks and buns
A company can't claim they have a billion dollars of
profits this year when they don't Yeah regulators are picky
about accuracy that way Too many liars cheats and deceivers
stole money from hardworking farmers in the history of this
country So the feds come down hard for good reason
on those whose pants are you know on fire So
yeah honesty in Numbers is 1 definition of fair Another
is full disclosure The numbers might be accurate technically but
they're not really reflective of how well or poorly the
company actually did Like a discount rectal thermometer company might
have technically made eighty million bucks in the quarter But
if only twenty million of that profit came from the
selling of invasive temperature taking devices and sixty million came
from wild currency swings Because the company had tons of
exposure to zimbabwean dollars which had a meteoric rise in
the quarter when china agreed to take over debt payments
on all of the countries obligations in return for well
basically owning the country Then the sixty million of currency
gain on the zimbabwean dollars would be a thing the
company would have to very loudly disclosed Well odds are
good that miraculous swings like this won't happen again next
quarter Or maybe ever It's not the business that they're
in So what else makes a market fair Strict laws
Maybe an arbiter for when those laws are broken not
selling your data if you don't agree to allow them
to do so Yeah all of the above What do 00:01:42.359 --> [endTime] you think makes a market fair What a concept
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