You are right to be indignant. The fact is the system is not working right. It is not right when we have so many people without jobs... It is not right that we are throwing people out of their houses when we have so many homeless... [Our financial markets are] supposed to allocate capital, manage risks. But they misallocated capital, and they created risk. We are bearing the cost of their misdeeds. There's a system where we've socialized losses and privatized gains. That's not capitalism; that's not a market economy. That's a distorted economy, and if we continue with that... we won't succeed in creating a just economy.
Most economists believe that they [rich people] would spend the money and stimulate the economy.
Government regulation always has unintended consequences….Since it's such a big money-making proposition, I definitely mistrust the government to handle this.
You're wrong in stating where the problem came from. The problem came from this notion that everybody in America had a right to a house whether they could ever afford to pay their loan back. That's what the Community Reinvestment Act was all about.
[The healthcare bill is a] headlong rush into socialism….we will not stand for the Obama-Pelosi-Reid hijacking of our freedom and democracy so they can impose their socialist ‘utopia’ of higher taxes, restricted access, inferior quality, and deadly inefficiency on the best health care system in the world….You and the RNC are all that stand between the Democrats' scheme to take more of your hard-earned income to pay for this unsustainable, freedom destroying entitlement and an opportunity to work for real, truly bipartisan step-by-step solutions…
Currently, students have the option to choose between private and public lenders, and I am a firm believer that such choice and competition among lenders is the best proven method for reducing costs and improving services. By omitting private lenders, we would create a monopoly within the federal government regarding student loans.
...we are not supportive of the extensive, prescriptive regulations as proposed in this rule. We believe industry's current safety and environmental statistics demonstrate that the voluntary programs implemented since the adoption of API RP 75 have been and continue to be very successful.
A public plan would be unfairly matched against private plans and according to a 2009 Lewin Group Study, if the public plan’s reimbursement rates are similar to Medicare, an estimated 119 million people will shift from private insurance to the public plan. Within years, private insurers could be driven out of business and a “Single Payer System” will evolve. Moreover, an improperly constructed employer mandate could have a devastating impact on main street businesses that would be saddled with a significant economic burden.
Forcing free market plans to compete with these government-run programs would create an unlevel playing field and inevitably doom true competition…
ABA is very concerned about the direction this legislation is headed and we are concerned over the impact it will have on the ability of consumers, students and small businesses to get credit cards.
