Along with the bail out, shouldn’t the Feds pass some lending reform that benefits the tax payer?

While the Federal Government is busy bailing out the mortgage lenders with hundreds of millions of tax dollars, wouldn’t also be fair for the Feds to pass legislation to stop the lenders from charging huge penalties and late fees? After all, if the tax payer has to foot the bill for bailing out the lenders, shouldn’t the tax payer get something in return like lower interest rates, no late penalties and fees? Or, is the Federal Government just going to continue the predatory lending practices that seem to have become the norm in the lending industry. Maybe a little reform is in order?

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5 Responses to 'Along with the bail out, shouldn’t the Feds pass some lending reform that benefits the tax payer?'

1. Hunter - May 12th, 2009 at 10:32 am

   Your very correct and, as usual, the government is doing things bassackward. First the reforms, then the bail out otherwise what’s to stop this from happening over and over again?

2. DAR - May 12th, 2009 at 9:36 pm

   That wouldn’t be ‘the taxpayer’ getting benefits that would be a small group getting loans who got benefits. The taxpayer would end up paying for that too, now that we ‘own’ bank profitability.

3. Monkey Pig - May 15th, 2009 at 4:29 am

   Yea, they need to pass a law that prevents lenders from lending to people with bad credit history and bad work history. Repeel the “community reinvestment act”

4. sokrates - May 17th, 2009 at 7:50 pm

   The government needs to give us poor taxpayers bigger stimulus checks because Caesar just took back what he gaveth with the other hand. Then again, we are paying for the stimulus checks too. a poor man or woman just can’t win in this world. The Fed already has things figured out.

5. serenely, soMEone - May 18th, 2009 at 10:35 am

   Nothing would benefit the tax payer more than an honest admission that there is no law requiring us to pay an income tax.

   There never has been.

   Every penny we’ve paid under the guise of a “federal income tax”, added together, should be returned to us with interest.

   Why?

   Because, even the courts have repeatedly decided that there is not now, and never has been a law requiring even a ONE payment by an individual to the federal government for wages earned.

   “…direct Taxes shall be apportioned among the several States which may be included within this Union…”

   …

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