Wednesday, February 08, 2006

Predatory Lending Law Moving

You Did Nothing and Thousands Lost Their Homes...

The Ohio Senate is moving a predatory lending law rapidly through the legislature after the State of Ohio earned the dubious distinction of leading the nation in bankruptcies and second in foreclosures. This after a 2001 report that bankers successfully got shelved that had recommended only modest changes. Advocates were sidelined with having to submit a minority report, but even the small steps were rejected by the Senate leadership. This is the reason so few people bother voting in the United States--no one will be held responsible for bad decision-making. Someone should have to pay for the inaction of four years ago.

These guys in Columbus did nothing because the banking industry said that they could monitor themselves. How big of a moron do you have to be to believe that sharks would protect the small innocent fish? How many thousands lost their homes over the last four years, because of stupidity down in Columbus? If we could return to the days of public humiliation or drawing and quartering leaders that mess up, I believe that we would have near universal participation in the electoral process.

Posts by Northeast Ohio Coalition for the Homeless staff and Board.

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