Ten Years Of Hell

Ian Walsh observes:

Note that rates being so high is a classic case of market failure. The banks are charging more than they need to in order to make a profit. In an actual free market other banks are supposed to step in and undercut them, but that isn’t happening. We could argue about why (they’re a collusive oligopoly or they’re broke being the most probable causes), but in the immediate term, it doesn’t matter, what matters is fixing it.

I think there prob'ly won't be any real effort to fix the underlying problems.  If there's any possible way to spin the fix as an attempt to "set up the government to compete against the banks", the Big Bank Lobbyists will squawk, and their pet politicians will fold under the pressure like a buncha lawn chairs.