Obama Economic Team Considering New Stimulus Heavy On Tax Breaks For Business
Friday, September 3, 2010
You know that there are a lot of people like your brother-in-law, how?
Fact: Your brother-in-law didn't cause this world-wide depression.
As I don't know your brother-in-law, his wife, the facts of their situation or what goes into their decision-making processes (for all I know, your brother-in-law could drive an 18-wheeler for a living, & without those $5k wheels, he can't work to pay the mortgage & his wife shops at baby boutiques because it's the only place she can get 100% cotton for her child with life-threatening allergies), I'm going to walk you back to a concept that I presumed people reading my suggestion would automatically understand would happen with "retiring People's debt":
Re-regulating the banks, bankruptcy reform (REAL reform, not how the Republicans and DLC/Blue Dog Democrats rigged it in 2005), & REAL credit reform.
If we had the old regulatory system that was in place before Republicans & DLC Democrats began playing fast and loose with out economic system, your brother-in-law wouldn't have been given credit cards or a credit line that he couldn't have paid back. He wouldn't have been able to get a mortgage that he could only afford based on a presumption that the property would only appreciate.
There was a time not very long ago when one of the most trusted professions in this nation, one of the most admired and respected people in the community, was a banker.
Read the Article at HuffingtonPost
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