Quote:
Originally Posted by Tom
You want to kick the economy in to high gear?
1, Erase all credit card debt. This frees up billions of $$$ for spending.
2. Cancel all credit cards. This clears the system.
3. Implement common sense credit car program with reasonable, fixed interest rates and reasonable limits. Prohibit advertising for CC's. Make the person work to get one, and work to keep it.
With the obscene interest rates CCs have been charging for years, anyone that goes broke taking the current CC balance hit probably is not responsible enough to remain in business anyway.
I can see an economy souring with money being freed up to churn its way around the country.
Why go after the rich when you can go after their banks?
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This is interesting idea, but you would need Congress and they are owned by the big banks.
