Federal Regulators reject a plan by banks to forgive consumer debt? Am I hearing right?brave new world asked: Federal regulators have just rejected a request by BANKS THEMSELVES and consumer advocates to forgive up to 40% of consumer credit card debt! Isn’t that a good thing? Aren’t banks privately owned companies that can do what they want with their debt? Who is the Federal Government to tell what to [...] Banks assure gov’t the bailout will be used for loans?jdeekdee asked: I just read a yahoo article (sorry can’t find the link) that states banks are assuring the gov’t they are using the bailout money to give out loans to consumers. Now, how stupid is that?? If they can’t pay their loans the first time, why do they think they will this time? What [...] Do you think the Government is going about the Economy all wrong?katey asked: They are bailing out the banks and the car industries, yet it’s the consumer that keeps the economy going. The Consumer is skeptical about taking out loans or spending any money due to lack of confidence in the future of the economy. If we don’t spend, then the Economy gets worse. Wouldn’t it [...] |