Another consumer protection measure killed by the banks. A great analogy to how useful Nutritional information is, and how we need something similar for loans and mortgages to cut through the bull-shit of banks that want people to buy stuff they can’t afford.
Why now is not the time to all of a sudden try and eliminate the deficit.
I’ve seen some things in the past indicating layoff’s don’t actually help, interesting that other countries are starting to pickup the layoff practice despite any evidence indicating it helps company performance. Something seems broken with capitalism such that most companies now seem obsessed with short-term profit instead of long-term shareholder value. Maybe its linked to the fact that so many of these corporations no longer focus on providing value in the form of dividends, and instead people just look for stock price spikes so they can make their money and get out.
For those thinking this isn’t as bad as the Great Depression since we don’t have soup lines… we just have different ways to keep the lines off the streets, and unemployment insurance keeps people at home watching TV rather than rioting on the streets.
Why should only businesses act in their best financial interest? Some great points on why strategic defaults should be more heavily considered by homeowners in bad financial situations.
I wish lobbying would be made illegal and considered the same as bribery, which it mostly is except for the slight chance their purchased Congressman won’t vote the way they are paid to (which seems pretty slim nowadays).
