Other Supreme-Poo

While everybody was busy acting all shocked by the completely unsurprising Supreme Court ruling on abortion, the court was also busy screwing all of us in the wallet. They decided that banks, including the wonderful institutions that created sub-prime loans, should only be regulated and inspected by the Federal government and not by State governments. This is a particularly bad decision in light of the fact that the State regulators are the only ones who ever seem to figure out when banks are committing criminal acts or abusing their customers. A link to the complete story is located below.

You can expect to see many more decisions like this one as the Bush administration completes it's bypass of Congress and reworks the nation's laws to protect Bush's "base," the upper 1% income bracket, at the expense of everyone else.

In other banking news, it should be noted that Bank of America is trying to buy Sallie Mae. Bank of America is also a leader in the practice of "universal default" which allows banks to raise the interest rate on your credit card because they get a bug up their ass. Good luck paying off those student loans when the interest rate hits 28%!

Supreme Court story on Yahoo.