To: JZelle
If you bought a home 10 years ago for $100,000 and just sold it for $300,000, have you engaged in price gouging? If the lender charges you 35% interest per annum for your mortgage on that house, the gov't would nail it for usury under the same principle. The free market isn't allowed to work in many facets of the economy.
2 posted on
09/29/2005 11:47:29 AM PDT by
peyton randolph
(Warning! It is illegal to fatwah a camel in all 50 states)
To: peyton randolph
If the lender charges you 35% interest per annum for your mortgage on that house, the gov't would nail it for usury under the same principle. But credit cards and advance payroll lending institutions can charge as much or higher. One place will get you for 300+%.
12 posted on
09/29/2005 12:04:32 PM PDT by
Centurion2000
((Aubrey, Tx) --- The government seems to be rewarding stupidity lately.)
To: peyton randolph
>If the lender charges you 35% interest per annum for your mortgage on that house, the gov't would nail it for usury under the same principle. The free market isn't allowed to work in many facets of the economy.<
Usury threshold is defined in advance.Give us a profit rate above which gouging occurs.
22 posted on
09/29/2005 12:24:27 PM PDT by
Blessed
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