Readers Write: Poverty and bailouts |

Readers Write: Poverty and bailouts

The huge current financial crisis the U.S. is experiencing today is sending a message to the American public. Hopefully, it will prod the American imagination about what American democracy should be all about.

It should be increasingly clear to the American public that you cannot bait poor people with unscrupulous loans and consider it meeting a social need. In turn, packaging these loans as “attractive” products and passing them off to other financial institutions is nothing less than fraud.

Sometimes I believe America’s extreme faith in capitalism allows the public to disregard the need for good government leadership in areas where there is truly great public need. This calls upon the American imagination to find honest avenues of public policy to care for the weak and vulnerable.

Rather than putting the public need for decent housing for the poor in the hands of financial speculators, consider how much the savings to the American taxpayer would have been if good government legislation had provided the means to more affordable housing and good-paying jobs.

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