Charles Lewis: Jack Layton’s credit card cure is worse than the disease...they're valid only because we, as consumers, should be reducing or eliminating our debt. What he doesn't say, in his defense of all that is holy in the world of capitalism, is that if your name was Luigi (yes, I'm using a stereotype to make a point), and you loaned money and charged the interest rate the banks charge on credit cards, you'd be arrested and you'd likely go to jail.
Just because consumers should rein in their debt doesn't mean that it's not immoral and unethical to charge the interest rates that the banks charge. One doesn't exculpate the other. It doesn't mean that it isn't unethical or immoral to charge 12% on a consumer loan but give 1/4 of 1% interest on a savings account.
In Canada, banks are chartered to legally take as much money from you as possible and give as little back as possible. I really think that, once people get their debt under control, they should stop using banks. Why continue being a tool of the unethical and immoral capitalists?
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