Over the next two years [from 1995] interest rates on business and farm loans rose from an average of 11% to an average of 56%. Credit card debt interest rates went from 7% to 61%, interest rates on car loans went from 7% to 91%, and home loan interest rates rose from an average of 5% to 75%.
Source: November 14 / 16, 2008
Secretary of Greed
By PETER CERVANTES-GAUTSCHI
To think that usury is evil. That was not a Good Neighbor thing to do to the Mexican people. It was ethnically bigoted for sure. Everywhere this Larry Summers has gone, he's left a wake of devastation.