Senate Caves to Banks: 21 Dems Join GOP to Kill Credit Card Rate Limit

Last Wednesday, Sen. Dick Durbin, D-Ill., the majority whip and the chairman of the Subcommittee on Financial Services and General Government, said this:

DURBIN: And the banks — hard to believe in a time when we’re facing a banking crisis that many of the banks created — are still the most powerful lobby on Capitol Hill. And they frankly own the place.

Flash forward to today:

The U.S. Senate blocked consideration of a 15 percent cap on credit-card interest rates, as lawmakers continued debating ways to limit lenders’ fees and changes to contracts with consumers.

Senators voted 60-33 to invoke budget rules that killed the proposal, by Senator Bernie Sanders, a Vermont independent. Sanders said the action was needed to stop banks from routinely charging 25 percent to 30 percent on credit cards.

“When banks are charging 30 percent interest rates, they’re not making credit available, they’re engaged in loan- sharking,” Sanders said.

Instead,they’ll pass a treacly thing that will be difficult to enforce:

The [alternative bill that will likely pass] would require credit-card companies to give 45 days’ notice before increasing an interest rate. It would prohibit retroactive rate increases on existing balances unless a consumer was 60 days late with a payment. Companies would have to restore the original, lower rate if a cardholder stayed current six months after a late payment.

Thanks for nothin’.

Here’s a list of the Democrats:

[…]

Pensito Flu Update: Assessing the Severity of an Influenza Pandemic

From ProMed:

The major determinant of the severity of an influenza pandemic, as measured by the number of cases of severe illness and deaths it causes, is the inherent virulence of the virus. However, many other factors influence the overall severity of a pandemic’s impact.

While not all people ever become infected during a pandemic, nearly all people are susceptible to infection.

Even a pandemic virus that initially causes mild symptoms in otherwise healthy people can be disruptive, especially under the conditions of today’s highly mobile and closely interdependent societies. Moreover, the same virus that causes mild illness in one country can result in much higher morbidity and mortality in another. In addition, the inherent virulence of the virus can change over time as the pandemic goes through subsequent waves of national and international spread.

Properties of the virus
– ———————–
An influenza pandemic is caused by a virus that is either entirely new or has not circulated recently and widely in the human population. This creates an almost universal vulnerability to infection. While not all people ever become infected during a pandemic, nearly all people are susceptible to infection.

The occurrence of large numbers of people falling ill at or around the same time is one reason why pandemics are socially and economically disruptive, with a potential to temporarily overburden health services.

The contagiousness of the virus also influences the severity of a pandemic’s impact, as it can increase the number of people falling ill and needing care within a short time frame in a given geographical area. On the positive side, not all parts of the world, or all parts of a country, are affected at the same time.

The contagiousness of the virus will influence the speed of spread, both within countries and internationally. This, too, can influence severity, as very rapid spread can undermine the capacity of governments and health services to cope.

Pandemics usually have a concentrated adverse impact in specific age groups. Concentrated illnesses and deaths in a young, economically productive age group will be more disruptive to societies and economies than when the very young or very old are most severely affected, as seen during epidemics of seasonal influenza.

[…]

What Wanda Sykes Didn’t Say About Rush

Who knew the mere mention of Rush Limbaugh could get so many people laughing? The Washington Post’s Dana Milbank asked readers for Rush Limbaugh jokes, a la Wanda Sykes, and boy did they respond. Some of our favorites:

  • Rush is a real patriot. I heard he donated blood for the swine flu vaccine.
  • Talent on (sub-prime) Loan From God.
  • Rush Limbaugh: Too big to fail.
  • Rush Limbaugh…I hope his heart fails. Oh wait–it already has.
  • Rush thinks health care reform involves making it easier to go doctor shopping.
  • There’s a reason why Rush thinks gas is an inexhaustible resource.
  • Rush Limpbaugh is the Doughberry Pillboy of the GOP.
  • Rush would have been the 20th hijacker, but canceled when he learned the airlines were going to charge him for a second seat.
  • Rush Limbaugh, as head of the Republican Party, is less qualified to be VP than Sara (sic) Palin…. Rush can’t see Russia from his house. [Editor’s note: Technically, that’s a Sarah Palin joke]
  • Reports from the Pentagon brass indicate that Afghanistan could be stabilized if Rush could kick his drug habit.
  • What do you get when you cross OxyContin with Rush Limbaugh? An OxyMoron…
  • Ever notice you never see Rush and Satan in the same place?
  • I agree that Rush is the new face of the Republican Party. Oh, wait, I’m looking at the wrong end of the elephant.

How about you? If this list inspired a Rush joke, please leave it in a comment.

Bonus Quote du Jour

Why get in a fight with Rush Limbaugh … It’s not a very comforting vision to say my vision for the Republican Party’s future is for Rush Limbaugh to shut up.

— Karl Rove, in an interview on Fox News, backing up former Vice President Dick Cheney in his recent skirmish with Colin Powell.

Quote du Jour

There’s been so much written about and spoken about in the mainstream media and in the anonymous blogosphere world, that this will be a wonderful, refreshing chance for me to get to tell my story, that a lot of people have asked about, unfiltered. Being a voracious reader, I read a lot today and have read a lot growing up. And having that journalism degree, all of that, will be a great assistance for me in writing this book, talking about the challenges and the joys, balancing the work and parenting, and, in my case, work means running the state. I’ve read a variety of books, and that helps shape my opinions and my views.

— Alaska Gov. Sarah Palin (R) on writing a memoir that will be published in spring 2010 — the year she is up for re-election, according to the AP.