New Mexico interest rates on loans and credit cards can go as high as 175% but the idea of an limit on loan interest rates, like the idea of rent control or any arbitrary "minimum wages", goes against rigid "free trade" ideology.

And like the other two limits on anything financial, as laws go, are on thin ice, as far as the rules in Geneva, the relevant rules say, As the rules were frozen, more than 20 years ago. REALLY. this happened when the financial rules took effect in the WTO, and they contain an understanding that locks the rules into the state they were, in 1998. This is today's United States, thanks to POTUS and SCOTUS. The people have spoken, we're so rich we will happily pay 175% interest rates, because of our huge wealth from eliminating all regulations under Capitalism. Even during COVID. Why we eliminated welfare in our time, too. So send us your dollars.

As some of us know, the WTO 1998 Understanding on Commitments in Financial Services standstills any new financial services regulation in the US after February 26, 1998, a ridiculous freeze on any and all regulation, no matter how much its needed. It also makes it easy for a country to ask the WTO to roll back any non-conforming measure subsequent to that date, if it impedes trade. This is supposed to last forever. There is no expiration date. So, forever. Any FS regulations that were not (already) "existing" on that date are forbidden by WTO agreement. And can be rolled back by a simple procedure, to the state on the "standstill date" This is to gove international FS investors "certainty" that nullifies the fickleness of voters. . There can be no new limits to what banks or insurers can charge, unless it was pre-existing in 1998, and if they raise interest rates it and its not stopped, it cannot be re-regulated, All deregulations lock in in perpetuity, They even say on the USTR web site that there is no expiration date for GATS. Since we committed there is no re-regulation in a committed sector after its deregulated. Limiting interest rates to a ceiling of 99% isnt much but its something. If people dont like paying 99% interest rates on their New Mexican credit purchases or mortgages, they can always pay their mortgage off in cash and move away to some less corrupt state or country.

New regulations are forbidden if they reguate more if they are after Feb 26, 1998. The standstill applies to insurance regulations too. So the badly named Affordable Care Act, is limited to the level of regulation that existed in 1998. And no more expensive regulations. No matter how reasonable they are. This explains the corruption at the top these days.

This no doubt explains why NM Dems would not limit interest rates to 99% when given the chance to do so recently. You know what they say about tangled webs. "Oh what a tangled web we weave, when we practice to deceive". Is this any way to run a country? Or a party? No.

Why isnt Caucus 99 percent truth telling and blogging about the sell out of our lives in perpetuity this scandal in Geneva should be?

This sell out by the former Clinton Administration should be better known

Much better known. People here pretend it doesnt exist, it changes everything.

Or, go to your other, more reasonable country.