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Reply #1: And banks are ENCOURAGING people to default [View All]

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Home » Discuss » Topic Forums » Economy

AndyA

(1000+ posts) Send PM | Profile | Ignore

Tue Aug-18-09 11:14 AM
Response to Original message

1. And banks are ENCOURAGING people to default

They've raised minimum payments, in some cases doubling them, and they've raised interest rates on existing debt to make it more difficult to pay down.

There should be a law against this. The banks function only to make enough profit to pay their executives bonuses, it would seem. If we had a decent Congress, this kind of shit would never happen. But we all know the corporations own Congress, which is why we need to start voting these assholes out of office. Break the chain. It's the only way to address this problem.

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