On Friday night, Donald Trump announced a one-year cap of 10% on credit card interest rates. By Monday morning, Wall Street was in full-blown retreat. Capital One stock plunged nearly 7%. Citigroup, JPMorgan, Visa, Mastercard, American Express — all down. The financial press spun the story as a misguided populist move that could “harm the economy.” But here’s the real headline: the mere suggestion of capping credit card rates was enough to send the entire consumer finance complex into a tailspin. Don’t cheer. This isn’t a win for consumers. It’s a flashing red warning sign that the entire system is rotten, fragile, and utterly dependent on harvesting interest from a population trapped in debt. Why the Panic? Follow the Profits…
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