Obama points the finger
Obama Points the Finger
Although payday loans have been taking a lot of heat as of late, President Obama, in his inaugural address, is not referring to payday loans when he points the finger, by stating our economic state is "a consequence of greed and irresponsibility on the part of some…”
He’s pointing his finger at the greed of banks
Obama is most-likely directly referring to banks. Banks have been issuing too much credit (mainly in the form of mortgages) to unqualified persons, which is a result of poorly designed legislation. Those persons receiving the credit have been unable to pay causing large amounts of debt around the country. These banks are only thinking of their own personal gain and do not take into account (or care, for that matter) what a large amount of people unable to pay their debts will do to an economy.
Payday loan companies do business in the light of day
President Obama addresses this issue by stating "those of us who manage the public’s dollars will be held to account – to spend wisely, reform bad habits, and do our business in the light of day…" The last piece: "do our business in the light of day," seems to imply that these banks responsible have been involved in unethical forms of business, something that would only be done in the dead of night. ... click here to read the rest of the article titled "The Truth about Obama, Banks, the Illuminati and Payday loans"
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