>>“So no car loans, house loans, business loans and the like.”
We’ll see. That sounds like extortion to me.
Maybe credit should be returned to local communities and the banks that represent them - instead of credit being managed by criminal extortionists who are trying to run a protection racket by holding a match to the economy they soaked with their CDO gasoline.
Not extortion at all. It is just the way capital markets work.
If we do not recapitalize the markets soon, credit will dry up. If that happens, the collapse of the entire economy will follow shortly behind.
We are in for a very rough ride regardless who wins in November, although Obama's tax increases would undoubtedly make a very bad situation infinitely worse. Increasing the capital gains tax as he proposes to do would take even more capital out of the market and would unnecessarily prolong the recession / depression we would find ourselves in.
The American people would have their "change" though, and they would finally be rid of the "evil" George Bush, so I am sure they will all be deliriously happy if that is the way things play out.