I have to admit that I was wrong: this thing is even worse than I originally thought, and I way understated the problems with it. The co-chairs and staff found every conceivable way to screw the middle class in ways big (very big) and small, but barely nicked the bankers who caused the meltdown of the economy, or the wealthy whose massive tax cuts ended the big budget surpluses as far as the eye could see coming out of the Clinton years.
Look at some of the different ways middle class and poor people will be g[o]uged by this proposal (and I am probably missing some):
And check out Matt Taibbi’s new Rolling Stone real journalism here:
Courts Helping Banks Screw Over Homeowners:
Nowhere else on the planet is it such a crime to be down on your luck, even if you were put there by some of the world’s richest banks, which continue to rake in record profits purely because they got a big fat handout from the government . . . most people in this country are so ready to buy that explanation.
Because in America, it’s far more shameful to owe money than it is to steal it.