“Slippy regulators” “Back room deals”
June 1, 2009 | Ohio, industry | Comments (0)Larry Meyers examines the Ohio situation:
The word I get is that the legislators no longer want to get involved in this issue. They put on their pageant, and passed the Short Term Loan Act in the most disgusting display of political theatre I’ve seen in a long time. Supposedly, they’re done with this.
So somebody, somewhere, started hammering on the DFI to do something. I imagine it’s the usual suspects – the ideologues who can’t support their credit-restricting, paternalistic (some say “fascist”) position on the issue. Maybe the Governor started screaming at DFI because he backed the rate cap and didn’t want to be embarrassed by lenders still trying to serve the people. Or maybe DFI Superintendent John Reardon has political aspirations.
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