I can't think of another enterprise other than being a homeowner that can't have its debt restructured in bankruptcy. Corporations can but a homeowner can't? Now with securitization the homeowner can't go to the owner of the loan and work things out.
When I got a deposit on my very first cake, I took that deposit and I bought some cake mix with it. I've never taken a loan - ever. And we're doing this expansion just like everything we've done in this bakery as we've grown. If we weren't able to afford paying for something cash, we didn't buy it.
I would also certainly continue to keep loan repayment interest rates as low as possible. And I would spread the financial aid a little less thinly across all income brackets.
Subsidies and mandates are just two of the privileges that government can bestow on politically connected friends. Others include grants, loans, tax credits, favorable regulations, bailouts, loan guarantees, targeted tax breaks and no-bid contracts.
You loan your friend money. You see them again, they don't say nothin' 'bout the money. 'Hi, how ya doin'? How's ya mama doing?' Man, how's my money doin'?
In 1980, aided by $1.5 billion in loan guarantees from the U.S. government and his own pitchman routines on television, Lee Iacocca brought Chrysler back from the abyss.
What happens once you get a felony conviction? Now you are entering this American caste system where you can't get a job, you can't get a loan, you can't get a Pell grant, you can't get public housing.
Fannie Mae has traditionally only bought and sold mortgages. But when a loan held by the company goes into foreclosure, Fannie Mae gains ownership of the underlying property until it is resold to new investors.
Lenders, including major credit companies as well as payday lenders, have taken over the traditional role of the street-corner loan shark, charging the poor insanely high rates of interest.
I have no intention of selling any more of the historical Apollo 11 items in my possession for the remainder of my life. I intend to pass a portion of these items on to my children and to loan the most important items for permanent display in suitable museums around the country.
What Wall Street and credit card companies are doing is really not much different from what gangsters and loan sharks do who make predatory loans. While the bankers wear three-piece suits and don't break the knee caps of those who can't pay back, they still are destroying people's lives.
And we can see the positive impacts right here at Solyndra. Less than a year ago, we were standing on what was an empty lot. But through the Recovery Act, this company received a loan to expand its operations. This new factory is the result of those loans.
