Jury still out on effects of Obamacare on finances

2014-01-12T00:00:00Z Jury still out on effects of Obamacare on finances nwitimes.com
January 12, 2014 12:00 am

Mike Certa, of Crown Point, ranted recently about neoconservatives "refusing to regulate banks and Wall Street, billions of dollars were lost and tens of thousands of Americans lost their savings, pensions or homes. But no one has lost any of those because of the ACA. Also no one has died because of the ACA."

Some facts: The Gramm-Leach-Bliley Act, also know as the Financial Services Modernization Act of 1999, that repealed the Glass-Steagal Act of 1933, was passed into law on Nov. 12, 1999 and signed into law by that well known "neoconservative" Bill Clinton. This law removed barriers among banks, security trading firms and insurance companies and allowed these three institutions to consolidate.

As for the housing problems, Barney Frank and Chris Dodd wanted everyone to have access to a home loan regardless of ability to pay for same.

As for "no one has died, or lost their homes, savings etc.," the jury is still out. 

- Carl Robinson, Chesterton

Copyright 2014 nwitimes.com. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Follow The Times

Latest Local Offers

Featured Businesses

Submit a Letter to Editor

We welcome letters from readers on any issue of public interest, and make every effort to publish as many as we can and in a timely manner. The Times will publish only one letter a month from a writer, and be sure to include your name, address and a telephone number for verification. Letters should be 150 words or less. They will be edited.

Letters may be submitted:
  • Via our submission form.
  • Via e-mail.
  • Via fax: (219) 933-3249 or (219) 465-7298
  • Via mail or by hand to our offices:
    • 601 45th Ave., Munster, IN 46321
    • 2080 N. Main St., Crown Point, IN 46307
    • 1111 Glendale Blvd., Valparaiso, IN 46383
    • 3410 Delta Dr., Portage, IN 46368
    • Please mark envelopes with "Attn: Letters"


Email Editorial Page Editor Doug Ross or call (219) 548-4360 or (219) 933-3357



Should the Indiana attorney general's office compel all Lake County municipalities to merge E-911 dispatch services?

View Results