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View Diary: Predatory Lending doesn't have to be Bankruptcy sequel (80 comments)

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  •  No clouds in sight? (none)
    Then you try and tell me how you can square this: The Feds are DEREGULATING the industry, not making it more fair. And yet you support it happening on the Fed. level? Either you're living in a dream world (after all I'm sure we'd all love to see Fed. level reform but is it likely?) or (IMO) you are exhibiting a conflict of interest. As Medical experts would say "first do no harm" and Ney-Kanjorski does a whole-lotta harm and almost no good, esp. in the area of stopping states who want to protect their consituants even when Congress sells them to MBNA and the like.

    We definitely need to create strong and consistant federal regulations, but until we controll the federal government we're going to have to fight on the state and local levels and at the same time make sure that the feds (and Dems with conflicts of interests, not you, more like the good Senator from MBNA Biden) from preempting the states.

    Either stand with consumers or stand with your business interests, but don't pretend that you're fighting for one while working for the other.

    And I'm not saying sub-prime lending is bad, hell half of my generation or more will most likely find themselves in that position at some point, but we need the gov't to protect us from the sharks...

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