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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsReich Wing want to block predatory loan protection for troops
http://www.huffingtonpost.com/2015/04/29/predatory-lending-military_n_7171748.htmlsnip:
WASHINGTON -- House Republicans are pushing legislation to block predatory lending protections for American soldiers, under pressure from the banking lobby.
GOP lawmakers tucked the deregulation item into the National Defense Authorization Act -- a major bill setting the military's funding, along with a number of other controversial terms on Guantanamo Bay and other issues. If the banking item is enacted, it would impose a one-year delay on new Department of Defense rules meant to shield military families from abusive terms on payday loans and other forms of high-interest credit. The bill is being considered Wednesday before the House Armed Services Committee.
Chicken hawk rethugs to the troops: "Be all you can be, and you bankers feel free to put the troops and their families in the poor house." Oh, and pick up your yellow ribbons in our lobby on the way out.
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Reich Wing want to block predatory loan protection for troops (Original Post)
kairos12
Apr 2015
OP
Mika
(17,751 posts)1. War is a racket.
I spent 33 years and four months in active military service and during that period I spent most of my time as a high class muscle man for Big Business, for Wall Street and the bankers. In short, I was a racketeer, a gangster for capitalism. I helped make Mexico and especially Tampico safe for American oil interests in 1914. I helped make Haiti and Cuba a decent place for the National City Bank boys to collect revenues in. I helped in the raping of half a dozen Central American republics for the benefit of Wall Street. I helped purify Nicaragua for the International Banking House of Brown Brothers in 1902-1912. I brought light to the Dominican Republic for the American sugar interests in 1916. I helped make Honduras right for the American fruit companies in 1903. In China in 1927 I helped see to it that Standard Oil went on its way unmolested. Looking back on it, I might have given Al Capone a few hints. The best he could do was to operate his racket in three districts. I operated on three continents.
― Maj. Gen. Smedley D. Butler, War is a Racket: The Antiwar Classic by America's Most Decorated Soldier
hifiguy
(33,688 posts)2. So is modern banking.
When the Mafia does this kind of shit it's called "loan-sharking."