Tucker Carlson says Sanders, Ocasio-Cortez are 'indisputably right' on Loan Shark Prevention Act

Fox News host Tucker CarlsonTucker CarlsonClinton attacks on Gabbard become flashpoint in presidential race Zuckerberg launches public defense of Facebook as attacks mount NBC-Universal rejects outside investigation of Matt Lauer MORE on Friday night issued rare praise for Sen. Bernie SandersBernie SandersOvernight Health Care — Presented by Partnership for America's Health Care Future — ObamaCare premiums dropping for 2020 | Warren, Buttigieg shift stances on 'Medicare for All' | Drug companies spend big on lobbying Mellman: Trumping peace and prosperity Tlaib to join Sanders at campaign rally in Detroit MORE (I-Vt.) and Rep. Alexandria Ocasio-CortezAlexandria Ocasio-CortezTlaib to join Sanders at campaign rally in Detroit AOC: Trump comparing impeachment inquiry to a lynching is 'atrocious' Former Obama official pushes back against assertion of unfair Sanders media coverage MORE (D-N.Y.), saying the progressive lawmakers were “absolutely, indisputably right” to tackle the payday loan industry.

Carlson, a frequent critic of both lawmakers, momentarily praised Sanders and Ocasio-Cortez on the Loan Shark Prevention Act, which proposes new restraints on predatory lenders.

“No doubt many Republicans in Congress will oppose this bill, if only because of who sponsored it. Bernie Sanders and Ocasio-Cortez are obviously demagogues,” Carlson said of the 2020 presidential candidate and first-term congresswoman.

“They don’t mean half of what they say. The other half they don’t really understand. They’re not impressive. But on this one issue, they are absolutely, indisputably right.”

ADVERTISEMENT

Ocasio-Cortez and Sanders on Thursday unveiled the measure, which would cap credit card interest rates at 15 percent, a notable reduction from current levels. 

Carlson noted that the act would dramatically help a significant number of people since the median interest rate on credit cards is 21.36 percent. According to CreditCards.com, the median interest rate a decade ago was 12.62 percent.

“Banks, meanwhile, can borrow money from the Federal Reserve at 3 percent interest,” Carlson said. “Do the math. It’s a very good business.”

The bill would also place the same 15 percent limit on consumer loans, effectively banning payday loans.

“There’s a reason why the world’s great religions condemn usury and why societies have restricted it for thousands of years,” Carlson said. “High interest rates exploit the weak. Credit card debt destroys people — not just chronically irresponsible people but good people, decent people.”

Carlson denounced bank operations as “disgusting” and “wrong.”

“So the real question is why did it fall to a couple of childish socialists to point this out?” Carlson asked, taking a dig at the two lawmakers.

The Fox News host went on to criticize Republicans in Congress for remaining on "autopilot, still siding with the big banks over their own voters" despite having supported similar legislation in the past. 

“It's a lunatic strategy. It won’t end well,” Tucker said. “What happens when you refuse to give people what they desperately need? They go elsewhere. Republicans should not be surprised when that happens.”