Ravengate
Partners - Stock market, economic and political commentary by Patricia Chadwick

Monday’s Wall Street Journal had an encouraging article regarding Federal Regulators’ putting curbs on interest rates that banks and credit card companies can charge consumers on their balances. This is very good news, and would only be better news if it could be implemented now (rather than mid-2010 as indicated) and if rates could actually be rolled back rather than just not allowed to rise. In fact, it is surprising to me that there is not more consumer advocacy on the subject of credit card interest rates. They are utterly abusive to consumers while reaping extraordinary profit margins for the lenders.

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For Americans traveling in Israel at Thanksgiving time, as I am this year, they are in for a special treat, because hotels and restaurants offer turkey dinner with all the fixings, something that happens in few other foreign cities. And the Israelis really know how to cook turkey American style!

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