First, under pressure from campaign contributors, conservatives pushed through a new bankruptcy law making it harder for people to get out of an oppressive debt and pay off their creditors slowly. Second, those same greedy capitalists insisted on giving sub-prime loans to people who couldn't go bankrupt and pay off their debts themselves. Now, under the guise of helping people with "questionable credit histories", US taxpayers are bailing out "irresponsible lenders". Corporate greed is very expensive.
The Sub-Prime Bailout
First, under pressure from campaign contributors, conservatives pushed through a new bankruptcy law making it harder for people to get out of an oppressive debt and pay off their creditors slowly. Second, those same greedy capitalists insisted on giving sub-prime loans to people who couldn't go bankrupt and pay off their debts themselves. Now, under the guise of helping people with "questionable credit histories", US taxpayers are bailing out "irresponsible lenders". Corporate greed is very expensive.
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