Rage Against The Routine

Economic Illiteracy in the Senate

August 27th, 2007 · No Comments

But then what else is new?

Today, the ghost of Tom Joad inhabits the body of Sen. Charles Schumer, D-N.Y., who spies a monster scarier than banks: lenders who offer subprime mortgages. Contemplating the plight of their customers, some of whom are finding it hard to meet their obligations, he demands new controls to shackle the beast.

In the old days, financial institutions that refused to lend to people with low incomes or imperfect credit were accused of victimizing the needy. Today, financial institutions that make many loans to those same people are found guilty of the same crime.

I think you should have to pass a test on economics in order to run for public office. If you don’t understand basic economics how can we let you hold the government purse strings?

In my more cynical moments I wonder if people shouldn’t have to pass the same test in order to vote..

Tags: Economics

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