Wednesday, October 1, 2008

Political Rant: Bailout Fiasco May Lead to More Predatory Lenders

Good Morning Bloggers - I am disgusted with what seems to be happening. The bailout is turning into a joke. Republicans are trying to include billions in tax cuts - capital gains - and forms of deregulation that got us into this mess in the first place. It seems to me they're not looking out for the country, but special interest. Did anybody see Tom Delay with Chris Matthews on Hardball last night? Some of the things he said were scary! The Republicans are pulling a fast one again. Obama and the Democrats need to fight this crap. If anything, the bill needs to be a "bottom up" solution instead of the usual "top down" BS pushed by the Republicans.

But what is really scaring me are the TV commercials I've seen over the past two days. I've spotted mortgage sellers here on local LA TV claiming to have millions or billions available to lend after Congress passes its legislation. I checked to be certain, and found the ads are showing up on spots during the Fox 11 Morning News and programs with low-income demographics on morning, daytime TV. I'll bet they're playing during freaking Jerry Springer! Something tells me it's more of the same. Congress needs to make sure that protections are in place, to protect people from predatory lenders. It's not a good sign when you see TV ads claiming to have money to lend based on Congress passing a rescue plan. Something smells very fishy. No, something STINKS!

Wednesday's Political Rant #1 - Michael

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