If only it were about “transparency”
December 16, 2009 | federal legislation, industry | Comments (1)Elizabeth Warren, intellectual mother of the CFPA, continues her media tour. On C-Span she beats the drumbeat of “transparency” as if that’s all that she wants.
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Yes, the reformers are being dishonest in claiming that they are only trying to ensure that lenders are honest. They are in fact paternalistically trying to control which loan products are available to consumers, whom they want to believe are not capable of managing their own finances.