A repository for Marcospinelli's comments and essays published at other websites.

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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