Modest Proposals for Middle Class Solvency

An effective solution would feature that -
Regardless of whichever street you're at -
You're able to use
Funded vouchers to choose
A school which you'll find a good teacher at.

As lenders may oft have no scruple
To give rates that may even quadruple,
Federal usury laws
Are needed because
They'll look for a state with a loophole.

The middle class finds it's bedeviled
By strains that have bankruptcies trebled,
But it ought to be clear
The political sphere
Can again make the playing field leveled.    



This is the final installment in a week-long series of limericks based on The Two-Income Trap by Elizabeth Warren, looking at the financial problems of, and proposals to help, the American middle class.

Warren Week IV: When Bankers Prey

"Our analysis shows," said the quant,
"That the credit card client we want
Is in desperate straits
At the maximum rates;
Not the one who can pay, but who cahn't."

Fourth in a series of five limericks based on The Two-Income Trap, by Elizabeth Warren.

Note: In her book, Prof. Warren recounts a meeting she had with Citibank credit card executives, who wanted her advice on how to reduce bad debts.  She essentially recommended that they stop lending to families in obvious financial trouble; whereupon the most senior executive in the room replied: "We have no interest in cutting back our lending to these people - they are the ones who provide most of our profits."

Warren Week III: Doubling Down

In practice, a dual income stream
Is riskier than it may seem,
Since the likelihood doubles
That personnel troubles
Deliver a loss for the team.   

The risk can be limited, blessedly,  
By budgeting not so aggressively;  
Put aside someone's pay  
For a rainier day,  
When you'll have to cut back of necessity.   

Day Three of our week-long tribute to America's struggling middle class, based on The Two-Income Trap by Elizabeth Warren.

Warren Week II: Learning the Hard Way

Though it's nice to have paychecks for pooling,
Dual incomes have really been fueling
Competitive bidding
For homes that are sitting
In districts with good public schooling.

This is the second of five limericks based on The Two-Income Trap by Elizabeth Warren.

Warren Week: I

Dr. Warren has laid out a map  
In her book called The Two-Income Trap,  
To explain how la vie works,  
When he works and she works,  
To widen the middle class gap.

This week Limericks Économiques looks at the strains on middle class America through the groundbreaking work of Elizabeth Warren.

One Against the 13 Bankers

Said Johnson, "In my recollection,
Consumer Financial Protection
Was largely conceived,
And should run, I believe,
By Elizabeth Warren's direction."

Thanks to MIT economist Simon Johnson for his clear defense of The Right Appointment at the Right Time.