Posted on 02/16/2016 3:26:47 PM PST by Kaslin
So they won't get it for, like, a year and a half?
When were the banks nationalized? Did I miss something or is this slow rolling fascism?
“....consumer loans, through the Postal Service.”
What a nightmare. The USPS loves to act as some kind of ‘official’ government entity when it needs a bailout, but certainly plays the ‘private business’ card when it suits their needs. This seems like someone in the USPS is thinking of a way to receive the next tax payer funded bailout by saying something like “Obama told us to give loans, people didn’t pay them back, now we need a bailout. Oh yeah, and we’ll need about $500 billion extra to cover the administrative costs.”
Fascism.
CRA, Mod 2.
Worked so well the last time. What part is subprime do they still not get?
Has Trump spoken out about the Consumer “Protection” Agency? No, I don’t think he has. Did Cruz? Probably.
Because this worked so well when Clinton set this up for minority home buyers.
“It’s toying with the idea of offering banking services, including consumer loans, through the Postal Service.”
Because they have such a great record of turning a profit.
L
...and ask about the free mortgages...it's speed dialed from your ObamaPhone.
Corrupt Congress is actually the main problem with lawless Obamas actions imo.
First, when we hear of any federal government spending associated with Obama, please bear in mind that the Founding States gave the ”power of the purse” uniquely to the House of Representatives. This is evidenced by the Constitutions Clause 1 of Section 7 of Article I (1.7.1).
So this is another example where the corrupt House is discretely allowing last-term Obama to decide how to spend vote-winning taxpayer dollars. This is likely so that state sovereignty-ignoring representatives can keep their voting records clean in order to fool low-information patriots into reelecting them, patriots who have probably never heard of the feds constitutionally limited powers.
And regarding parasitic bank loans for low-information, low-income citizens, such loans likely based on vote-winning funding from the failed and unconstitutional Stimulus program passed by Obamas Democrat-controlled Congress, please note the following. The delegates to the Constitutional Convention had decided not to give Congress the specific power to regulate INTRAstate banking. This is evidenced by the following excerpt from Thomas Jeffersons writings.
”A proposition was made to them to authorize Congress to open canals, and an amendatory one to empower them to incorporate. But the whole was rejected, and one of the reasons for rejection urged in debate was, that then they would have a power to erect a bank, which would render the great cities, where there were prejudices and jealousies on the subject, adverse to the reception of the Constitution [emphasis added].” - Jeffersons Opinion on the Constitutionality of a National Bank : 1791.
Also, these unconstitutional federal bank loans are also possibly violating a Supreme Court case precedent established by a previous generation of state sovereignty-respecting justices.
More specifically, if bank loans are based on contracts and not regarded as commerce (corrections welcome), the Court had clarified that Congress has no Commerce Clause power to regulate contracts, regardless if the parties involved in the contract are domeciled in different states.
” 4. The issuing of a policy of insurance is not a transaction of commerce within the meaning of the latter of the two clauses, even though the parties be domiciled in different States, but is a simple contract [emphasis added] of indemnity against loss.” - Paul v. Virginia, 1869.
(The Obamacare insurance mandate is unconstitutional imo, regardless what lawless Obamas state sovereignty-ignoring activist justices want everybody to think about it.)
Remember in November !
When patriots elect Trump, Cruz, or whatever conservative they elect, they need to also elect a new, state sovereignty-respecting Congress that will not only work within its Section 8-limited powers to support the new president, but also protect the states from federal government overreach, unconstitutional federal funding for abortion an example of such overreach.
Also, consider that such a Congress would probably be willing to fire state sovereignty-ignoring, pro-abortion activist justices.
Are consumer loan companies such as HFC still in business?,,Haven’t seen an office of theirs or heard any ads from them in years. I used to see and hear about them a lot.
Those finance companies tended to service working class and/or people with bruised credit.
Nowadays I hear a lot about online lenders and payday loan places. Have they muscled out other sources of lending for the working class or moderate income folks? If so is it due to government regulation??
Tell me if I’m wrong,but isn’t it going to be the “economically disadvantaged” consumers who are least likely to pay back their loans? Of course,with this setup,you would then have the taxpayer to take up the slack. By running it all through the Post Office,there would be plenty of additional “slack” to be taken up.
I read today Federal Marshall’s have started arresting dead beat student loan folks. Because it is Federal money, the court orders folks to be arrested who haven’t paid their loans in years. They go to court, forced to sign a payment agreement, then released.
Obviously a ploy to get folks to vote for Burney.
small-dollar lending to economically disadvantaged customers or else
Obama wants to do as much damage as he can before leaving office...
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