Maybe this isn’t that bad, but when a former Democratic President and any given modern-day California Governor team up on an idea, you just know that there’s an ulterior motive. The motive? Bank accounts for illegal aliens.
WSJ:
Beyond Payday Loans
By WILLIAM J. CLINTON and ARNOLD SCHWARZENEGGER
The American dream is founded on the belief that people who work hard and play by the rules will be able to earn a good living, raise a family in comfort and retire with dignity.
But that dream is harder to achieve for millions of Americans because they spend too much of their hard-earned money on fees to cash their paychecks or pay off high-priced loans meant to carry them over until they get paid at work.
Here is one initiative that can unite progressives and conservatives as well as business leaders and community activists: helping the “unbanked” enter the financial mainstream by opening checking and savings accounts, and working collaboratively with financial institutions and community groups to develop and market products that work for this untapped market. This will put money in the pockets of individuals and grow the economy. And it won’t cost taxpayers a dime.
Sorry, Bill and Arnie, but I highly doubt that anyone who is too stupid or too lazy to open a bank account has it in them to partake of the American Dream. (Yes, I know that there are exceptions, and that not everyone without a bank account is stupid or lazy.)
If they’re so worried about payday loan shops and their high interest rates, bring back the usury laws.
