Monday, April 11, 2005
Fat Cats Get More Corporate Welfare
This article on the bankruptcy bill exposes it for the crock that it is--a protection for predatory lenders over consumer protections. But protecting big business and screwing the average consumer is the Republican way. At least this Republican writer sees things for what they are:
"As a Republican, it disappoints me to say this, but I understand why people call the GOP the party of big business. When Washington pushes for more responsibility among debtors, but not loan-shark-like lenders, when its "ownership society" principles don't make big corporations own up to their role in the bankruptcy problem, the GOP is toadying to big business."
This comes on top of the Republican-controlled Senate's rejection of a measure to cap credit-card interest rates at 30 percent. The writer asks, "Why should Washington want to protect lenders, who charge desperate people as much as 36 percent in per annum interest?"
A textbook example of Dubya's "on-your-own(ership) society."
Bankruptcy bill or welfare for usurers?
"As a Republican, it disappoints me to say this, but I understand why people call the GOP the party of big business. When Washington pushes for more responsibility among debtors, but not loan-shark-like lenders, when its "ownership society" principles don't make big corporations own up to their role in the bankruptcy problem, the GOP is toadying to big business."
This comes on top of the Republican-controlled Senate's rejection of a measure to cap credit-card interest rates at 30 percent. The writer asks, "Why should Washington want to protect lenders, who charge desperate people as much as 36 percent in per annum interest?"
A textbook example of Dubya's "on-your-own(ership) society."
Bankruptcy bill or welfare for usurers?
