Kia Franklin
Edwards Proposes Commission to Protect Consumers, the Poor
Presidential Candidate John Edwards (D) proposed reforms to combat poverty in a speech yesterday, including a proposal to combat predatory lending and to encourage savings. He also alluded to universal health care. See here for the story and a link to the audio. Edwards said:
“Having 37 million people in the richest nation on the planet wake up every day worried about feeding and clothing their children is wrong and we have a moral responsibility to do something about it. First thing I want to do as President is establish a Family Savings and Credit Commission… and its job will be to advocate on behalf of consumers on issues of lending and savings. We need a national predatory lending law that cracks down on so many of the abuses…”
Posted at 3:26 PM, Jun 22, 2007 in Permalink | Comments (5) | TrackBack (0)
Comments
If I didn't look like absolute hell in it, I would take the picture of me shaking John Edwards' hand. If he becomes President, I won't care how bad I look.
It is so refreshing to hear a major candidate actually care about protecting American citizens and not just American corporations.
Posted by: Justinian Lane | June 22, 2007 05:05 PM
It's as if 100 years, and 100 million victims of Communism have taught the Left nothing. It's as if high school economics has been erased from the minds of the left wing ideologues, by their lust for power, and their hatred of America.
Posted by: Supremacy Claus | June 22, 2007 07:46 PM
right now, today, as of this very moment...the AVERAGE consumer/borrower has a great deal of protection from the law. What they do not have is the knowledge or education to enforce their rights...and very often they lack the same to borrow, and eventually pay back.
Now, as for the ABOVE AVERAGE consumer and borrower...they had all of the resources, information, and tools before them to learn that the second or third equity line of credit was probably a bad idea. Now...having said that, who's to pay for Edwards idea?
Responsible borrowers...through interest and fees. There is no such thing as a free lunch, a free loan, or a free plan to bail out every onesucker that traded in their equity for a motor boat.
Posted by: john | June 25, 2007 09:03 PM
Anything is possible if you wish hard enough.if one runs after two hares he will catch neither
Posted by: valentine | July 19, 2007 08:53 PM
between the devil and the deep blue sea
Posted by: jake | July 20, 2007 11:10 AM