I had a piece on Tom Paine today relating the subprime mortgages crash to credit card and student loan industry practices.
"America is at another Enron moment. Rather than shedding a tear for the traders who pumped up this market, we are now required as a country to reexamine the responsibility that creditors have to borrowers—to make a sane assessment of the ability to repay, not merely to make as much money as they can out of the risk. It is high time to block predatory lending of all kinds by reinstating usury laws, limiting interest rates, penalties and fees that creditors can charge."
It's possible , with the range of reforms now cooking, that student loans might even lead the way. That would be a victory for the members Generation Debt!
Update: today the Times covered the angle I was looking for: the homeowners.