Freshman Rep. Alexandria Ocasio-Cortez and 2020 hopeful Bernie Sanders shared a rather awkward and cringe-worthy hug after they announced their new bill aimed at creating “postal banking.”
Bloomberg reported that the duo accused banks of acting as “modern-day loan sharks” and called on Congress to enact a federal limit of 15% on credit card interest rates.
The two self-identified democratic-socialists are set to propose legislation on Thursday capping rates on credit card and other consumer loans and letting post offices offer low-cost basic financial services, such as loans and checking and savings accounts.
An outline of the plan released ahead of their formal announcement sharply criticized banks for charging on average more than 17% interest on credit card balances while they are able to borrow money at less than 2.5%.
“Today’s loan sharks wear expensive suits and work on Wall Street, where they make hundreds of millions of dollars in total compensation by charging sky-high fees and usurious interest rates,” the statement said.
But the really odd part came when it was time for a hug.
American Mirror reported that after the duo announced a proposal to create a “postal banking” system, they didn’t seem sure if they should embrace in the Biden hands-off era.
As Bernie wrapped it up, AOC waved to the camera. He waved and she put her hand on his shoulder.
He then put his hand on her arm before she leaned in for the awkward side hug.
Watch the video:
— Mr Producer (@RichSementa) May 9, 2019