Paulson Has a Christmas Gift for Credit Addicts

Please Mr. Paulson – wake me out of this Bad Consumer Credit dream. 

I almost fell out my chair this morning when I saw this headline from the Wall Street Journal:  “New Facility Targets Consumer Lending.”  It seems that the U.S. Treasury is starting its own clinic for consumer credit addicts.  But instead of handing out Dave Ramsey books or some kind of credit methadone, this clinic will be distributing actual credit.  Yep.  $25-$100 billion of our tax dollars will be used to fund car loans, student loans, and credit card lending.  Read more