Banks Get Preferential Treatment. Coincidence? I Think NOT!

I couldn’t agree with you more about our preferential treatment toward our banks. It is truly amazing how much our banking system has changed in the past year and a half. I took out a loan a year ago and paid it back on time. A year later, when my credit had not changed, I tried to take out another loan and was denied! In order to get a loan now your credit has to be damn near perfect with a steady income to even be considered. I completely agree that credit cards are like drugs to some people! Banks send out credit cards to everyone, no matter there age or financial status, constantly! This should be illegal. It gives younger and more irresponsible spenders another way to get themselves into debt. On top of that there are people who are “shopaholics” and actually suffer from this like an addiction. By giving these people free access to credit cards it’s basically like giving them drugs and encouraging their addictions. There should definitely be more regulations about the requirements to have a credit card because unfortunately everyone is not responsible. And those people definitely suffer the consequences. They lose their homes, cars, and dignity. I also believe that the bank should be more careful about letting people take out loans against their assets, especially their homes. I know that it is beneficial to them, but it is perpetuating a cruel cycle and again leaving people homeless. Oddly, we do not blame the banks. We blame the people for being irresponsible. Which I find particularly odd because there are documents that suggest that $84 billion of the taxpayer money AIG has received is unaccounted for! Why is AIG not being closely monitored? Why are they getting preferential treatment? Perhaps we should look at Obama’s new Tax Force on Tax Reform. One of its members is Martin Feldstein, a current board member of AIG. Coincidence? I think not!