Alvin Greene on Budget & Economy

Break up the big banks; hard time for bank fraud

I will stop house foreclosures. Big banks got their bailout. Their debt was forgiven--and you paid for it. Their executives got million-dollar bonuses.

I will break up the big banks. I will put them out in the street, just as they want to put you out i the street. Those bankers who committed fraud will do hard time.

I will stop debt collectors from calling you. I will make it illegal for a company to sell a debt for purposes of collection. I will shut down payday lenders who are sucking you dry.

Source: Manifesto for a fairer America Sep 1, 2010

Ban overdraft fees and IRA fees as usury

USURY: It used to be illegal to charge consumers usurious rates. What do Hammurabi, Plato, Charlemagne, Dante and Queens Mary and Elizabeth have in common? They all condemned, outlawed or regulated the charging of interest on loans. In fact, until the early 1900s interest rates in the US were kept at or near 10%. And until 1979, loan laws provided some interest rate cap in every state. Then everything changed. Governments and banks put profits before people. And now the lending industry is spiraling out of control.

I will end overdraft fees.
I will stop debt collectors from calling you.
I will make it illegal for a company to sell a debt you have for purposes of collection.

I will end IRA fees.

Right now a banker takes fully one-half--one-half--of your hard-earned retirement money in so called 'service fees'. Did you know that? Will you sit there and take it? No other candidate will help you. I will shut down pay-day lenders who are sucking you dry. Source: Manifesto for a fairer America Sep 1, 2010

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Page last updated: Nov 26, 2010