I’m not really convenced that the private sector can’t take care of this issue.
Not all of us need credit or depend on an employer or even have kids. Sure it will be bad for some folks as it relates to payroll, etc, but I think Wall Street needs to dig themselves out of this hole and folks need not see credit as the cure all for everyday living expenses.
My mom just signed a deal where she got thousands of dollars as a loan yesterday so it’s a matter of what TYPE of credit you are looking to get.
This is a wake up call for many that are in over thier heads in credit as well as the investors that did not look in to what the hell they were investing in, but only looking to make a quick buck.
Unfortunatly, there will be a lot of folks that are going to be negatively affected, but we can’t just keep printing money or our dollar will be worthless sooner than later. 