Several days ago, I was watching Barack Obama pitching some hack that's supposed to *protect* me from capitalism. He's saying how this guy is going to protect me from payday lenders, banks, yada yada blah blah blah. Payday lenders? Only a fool would get a payday loan. Title loans? My god, what a ripoff. 300% interest. If someone is so DUMB or has made such a disaster of their finances that a 300% interest loan on their transportation is an option is beyond help. Just what exactly is the federal government to do to protect someone so stupid and irresponsible? Apparently Barack Obama also thinks I need to call his government 1-800 number to find out if I'm getting a good deal on my mortgage. My opinion? We have plenty of protections and disclosures already in place for consumers. A person who is so dumb or ill-informed (especially given the plethora of information available via the internet) that they need to call the federal government for yet even MORE HELP- well, that person shouldn't buy a house, they are simply too stupid. But at the same time, I'm a little CONfused. I though Barack Obama recently signed *financial reform* into law. I would have thought all these evil lenders would have been put in their place by this brilliant, effective legislation. So why do we now need to spend yet even more money to protect morons from their own stupidity, especially given the numerous consumer protections already put into place? We really don't, it's probably not about consumers at all. I suspect in the end, this is all about payback and paying back. Are you a good Democrat contributor who worships Barack Obama and Democrats? WONDERFUL! I suspect you'll be on the list of companies this new bureaucracy will speak highly of. Haven't donated to Democrats, and -GASP!- have even dared to speak out against Barack Obama? Well, you'll be on the list of companies to avoid. But again, the bottom line is this- we don't need yet another costly bureaucracy to duplicate protections for consumers already in place. If you're too dumb to live in a free country, then you deserve to pay 300% interest and pay high fees and high interest rates on consumer loans. Tough **** for you, I say.
