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Comments (2)
Obama's "chastising" of the banking industry basically sounds like scolding a crack dealer---what he SHOULD be doing is investigating the possibility of having the Post Office get into banking!
Charging 5 to 18% interest rates on credit cards would keep the banking industry HONEST...something that's been alien to them since the S&L bailouts.
http://www.federaltimes.com/index.php?S=4034396
shows that it's not something that hasn't been done before, and I can already hear Limbaugh and Fox "news" SCREAMING about President Obama socializing banking...but if it wasn't for government intervention just imagine how polluted the Hudson River would be now! [I remember going to my mother's house in North Jersey as a chile and seeing all the factories dumping chemical wastes into the streams that fed into the Hudson].
Corporate self-regulation is an oxymoron.
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