The stock market continues to tank. Banks are teetering on the brink. General Motors’ auditors say that it likely will end up in bankruptcy. Meanwhile the new Congress and President are settling in for their very familiar dance. As I’m getting tired of hearing the same ol’ same ol’, I think it’s time that we just deal with what needs dealing with.
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President Obama inherited on big ol’ pile of poo. Not only did his poopy-headed predecessor aid in constructing a culture of criminal greed, but the very fabric of our economic cloth was shown to have become something akin to tissue paper. There are some industries that, I believe, should be looked at seriously as targets for some major, if not innovative, re-think.
Read more...Here’s another one of those things that Congress needs to address, but won’t: the practices of the consumer lending industry. There once was a time when going to a loan shark was considered to be a really stupid thing to do, but compared to what the “legitimate” credit industry is getting away with, that’s no longer the case.
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