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Welcome to Orwellian state control.
1 posted on 01/10/2013 2:48:45 PM PST by whitedog57
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To: whitedog57

“No excess...”

Physician, heal thyself!


2 posted on 01/10/2013 2:50:31 PM PST by G Larry (Which of Obama's policies do you think I'd support if he were white?)
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To: whitedog57

TThis is the stuff that started the whole darn bubble,

Happy, finally,to see that you have to prove you can pay back the loan before you take the money and head to Mexico...

long overdue.


3 posted on 01/10/2013 3:05:51 PM PST by ASOC (What are you doing now that Mexico has become OUR Chechnya?)
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To: whitedog57
But the assumption of the CFPB (and Dodd-Frank) is that consumers and investors are ignorant and foolish

The American borrower is one of the stupidest creatures on the face of the earth, and, short of protective custody, this is about as good as can be done.

My grandmother, GRHS, was a NYC public school teacher for 50 years, 1912-1962. When she heard about the invention of VISA, she was absolutely incredulous. She predicted, in exact detail, the financial future of the United States from that day to this.

If your point is that "consumers" are NOT ignorant and foolish, you got a lot of 'splainin to do.

4 posted on 01/10/2013 3:10:41 PM PST by Jim Noble (Diseases desperate grown are by desperate appliance relieved, or not at all)
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To: whitedog57

The mortgage interest deduction has led to a lot of our problems. When they took away all other interest debt deductions away but left the mortgage interest intact they were just begging for folks to leverage their home equity for other loans.
Credit cards, autos, stock market “investing”? No problem! Borrow from your home to finance these at lower than market rates.


5 posted on 01/10/2013 3:21:07 PM PST by outofsalt ("If History teaches us anything it's that history rarely teaches us anything")
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