Forum Post: One fix - Bank credit fix
Posted 11 years ago on Oct. 10, 2011, 7:41 p.m. EST by quantum
This content is user submitted and not an official statement
One issue for change is the avialablity of credit from banks and the fact that banks charge highway robbery inrest rates in times of uncertainty in order to recover their money in case the lender defaults on the loan. The change required is simple, 1 ) any officer of a corporation making more the $1,000,000( includes all compensation) a year should be made responsible for the depts of a corporation. Thus if the corporation cannot pay off its depts the bank has the right to seieze the assets of the overpaid corporation officers. This cutoff payment amount will neeed to adjusted with inflation. 2) Banks must not be allowed to charge anymore then inflation rate + 10 %. anything more makes the banks no better then the mafia. 3) For goverments, the assets of the politicans in charge are subject for seizure if a goverment defaults on its loans. if this is insufficient the bank has the right to charge the citizens of the country a nominal fee per month no nore then $10 per family per month to recover the loan money,
with such rules in place the credit crisis should disappear.
in addition no person should be allowed to have credit payments more then 40% of their annual income as reported on their tax return.
This goes for countries and corporations as well.
Fix this probelm and stop being so greedy we live in a civilized society not run run by legal crooks who bleed people dry with high instrest rates , and ballon morgages. Stop taking advantage of people and maybe the system will work,
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