While a whole lot of folks are obsessed with what to do about, or to, the 1%, I would like to focus on an issue involving the 90%. This isn't about the wealth or income gap. It's about the credit gap. It's driving the Fed crazy and stifling the economy.
Here's the problem. Right now, banks are lending the bulk of mortgage money to people who have great credit, but are less likely to spend the money they save. As the Wall Street Journal reported this week, the people who need credit the most —...Full Story