What’s not to fear?
July 28, 2009 | federal legislation, industry | Comments (0)The New Republic says those who are opposed to the Consumer Finance Protection Agency are scared. I agree, because we don’t know what this agency will do. Personally, I’m annoyed with elites who think that any regulation is good regulation.
If consumers don’t trust financial services–and why should they, given all we’ve seen?–this will be a long and painful recovery. Given what we know and have learned painfully about how our financial system operates, saying that “the market will provide consumer safety” is essentially the same thing as saying “the market will not provide”–you’re on your own, again.
Comments»
No comments yet.