19 August, 2007: WHAT ABOUT THE LITTLE GUY?

That’s what Vice-President Nelson Rockefeller asked way back in the 1970s – “the little guy” being someone, to him, who earned “only a hundred thousand dollars.” Some, with too few exceptions – Elizabeth MacDonald and Jonathan Hoenig, Nina Easton and Juan Williams on Fox, and Maria Bartiromo and Ben Stein on CNBC – have asked, “What about the little guy?” To too many others, “the little guy” – who earns under a hundred thousand dollars – doesn’t exist.
They – pundits, insiders, investors, government ‘regulators’ – all claim they believe in capitalism; but they don’t – we’ll develop this theme further in later observations here – instead, they believe in capitalism as long as they are the winners, and others are the losers; but, when it comes to losing their own wealth, it’s time for big-government socialism to intervene – on behalf of the bankers, lenders, investors, even though they’re not lending – to borrowers who are more deserving, but who can’t be screwed with bad deals and exorbitant interest rates.
Back to “the little guys” – the ones who were, in the words of Ms. MacDonald, “suckered into” bad deals – interest-only loans, adjustable-rate mortgages, high-interest flat-rate loans, etc.: It seems to Washington and on Wall Street, that’s just so much tough titty; the insiders continue to gorge themselves on the fat tit of government support and largesse. So, what can we do for “the little guy?” How about if government steps in, without making a further mess of things? How? Government can outlaw and enforce – rein-in, control lenders; eliminate interest-only, excessive-interest, balloon-payment, wildly ‘adjustable’-rate, usurious loan packages; help – really help – people now in foreclosure and arrears. This is the essence of National Capitalism – boost average Americans, and boost the entire American economy; and, yes, even boost the greedy bastards who put others on the hook, then sold their risky, bad deals to others seeking to reel them in, only to find the hook now empty and nothing on the line, which is merely anti-American collaborationist international capitalism, and, essentially, anti-capitalist.
Government must force lenders who hold paper on less-than-fair deals with people who are honest in trying to just get themselves and their families a home to renegotiate; to grant extensions on making partial payments, late payments, smaller payments on interest. Government must require lenders to help people keep their homes, and make good on their promise to pay by shifting more from interest-only to payments primarily on principal, with a much smaller amount payable as interest, to lower interest rates on these loans, and completely ban all interest-only ‘deals.’ These steps will require little to no added taxpayer expense, but smaller profit, yet still some income, to holders of the now exorbitant loans.
Government must require all holders of sub prime loans to contact borrowers; to renegotiate and repair current bad ‘deals.’ I heard Donald Trump advise all who have received notices from their lenders to immediately contact them and make new arrangements, even a new deal. This advice must be enforced by government, and trumpeted far and wide in all our communications media.
Government must safeguard fair credit deals for Americans to buy homes, finance businesses, complete education. Helping Americans helps our economy, our great America. This is the essence of pro-American, National Capitalism