On Sept. 29, Congress held a hearing on the rules proposed by the Consumer Financial Protection Bureau (CFPB) that would likely destroy much of the small-dollar loan industry and drive many low-income and poor credit-risk people into the arms of loan sharks.
The CFPB rules are so costly that most lenders will likely go out of business — by government intent.
Officials in the Obama administration’s IRS and Treasury have been callous and mean-spirited in destroying the ability of millions to obtain needed banking services, without providing legal and low-cost alternatives.
President Obama has made clear his intent to kill the coal and other fossil fuel industries. The results are that energy costs are being driven much higher, that hundreds of thousands of workers in these industries are now losing their jobs, and that low-income people will suffer the most from unnecessarily high energy costs.
These and so many other examples provide evidence that Democrats are sadistic towards the poor.