CONSUMERS: The Federal Reserve just made loans more expensive…
The Federal Reserve Bank (which is NOT a government agency, but a PRIVATE BANK) was able to convince the Courts to allow their asinine sweeping new lender rules to take effect (April 5th) while the case winds it’s way through the court system. Below is simple video from TBWS Daily which puts the rule into perspective.
Buying bananas, or buying a home… Consumers don’t care what the seller makes, they just care that they shopped, and got the best possible deal in the market. But take away competition (can your hear me Washington?), and everyone suffers. In July, the Dodd/Frank Financial Reform law will come into play making mortgages even more expensive and costly to consumers with even less options, except going to the overpriced banks!
What are your thoughts?