Cute story from the AP. Cute, that is, if you think socialism is cute. Since when does the American government dictate to the private sector what it will or will not do? Ah, that’s right. They aren’t private anymore. The government bought the banks. Now it feels that it can dictate when they can and cannot lend. It doesn’t matter that greed and rampant consumerism is what got us into this mess, the message is clear: Spend, spend, spend! Go to the mall!
We’re being put through the ringer, or in other words, the bill is coming due for the way we’ve been living. The government’s answer? Rack up some credit card debt. Lovely.