State of confusion?
June 15, 2009 | alternatives, federal legislation, industry | Comments (0)Been there myself. In this case, a columnist at theStreet.com applies the term to the recently passed credit card law:
Relying on legislators to step in for regulators is bad for a number of reasons. First, by the time legislation is called for, it’s already too late to avert disaster; we are already suffering the effects of lax regulation. The best we can hope for now is damage control. Unfortunately, this means consumers and the credit card industry will be forced to learn and deal with changed rules in the middle of a crisis.
It’s will be interesting to see in the long-run how the credit card law works out. It could weed out some bad actors or it could force credit card companies to reduce credit event further.
Comments»
No comments yet.