Democrats: not the party for economic reform

June 9, 2009 | By | Reply More

In an article titled, “The Trouble with Democrats,” William Greider of The Nation documents the many ways in which the democrats lack the moral will to rein in predatory lending and enact real economic reform.   How about modestly adjusting the bankruptcy code to allow 1.5 million people to keep their houses?  Forget it.   How about capping payday loans at 35%?  No way.   You see, most Democrats are scared of payday lenders unless the interest cap is 390%.  How about putting meaningful rate caps on credit cards?  No way, because the financial services industry doesn’t want that.

This article is a thoroughly disgusting review of Democrat spinelessness and a reminder about who pulls the strings in Washington.  Hint:  it’s not The People.

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Category: Economy, Politics

About the Author ()

Erich Vieth is an attorney focusing on consumer law litigation and appellate practice. He is also a working musician and a writer, having founded Dangerous Intersection in 2006. Erich lives in the Shaw Neighborhood of St. Louis, Missouri, where he lives half-time with his two extraordinary daughters.

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