Raising rates to beat the impact of new rules....
[T]here is an element of bad faith dealing here. The banks were given TARP funds and other, extensive types of support so they could support the economy via lending. Raising rates to beat the impact of new rules was predictable (the long lead time for implementation of the rules was no accident) but the brazenness of the banks is still remarkable.
Remind you of anything?
Like full implementation of health insurance reform by 2014 (and not, now, 2013?)
Sure, Obama didn't want to run on the plan in 2012, and Dem Congress critters didn't even want to run on it in 2014, but surely giving the insurance companies time to suck as much of our blood as possible before new rules kick in is part of the equation as well.