Only bureaucrats can do it
February 18, 2010 | federal legislation, industry | Comments (0)Elizabeth Warren argues that the shortcomings of the credit card law demonstrate the need for the CFPA. From the story:
The credit card reforms enacted by Congress and signed by the president last year are set to take effect on Monday. Unsurprisingly, credit card issuers have already found several ways to get around the reforms.
Harvard professor Elizabeth Warren, chairwoman of the bailout oversight panel, said on Thursday that the shortcomings of the credit card reforms show the need for an independent agency that protects consumers from the financial industry.
Is she telling Congress that Congress doesn’t know how to do reforms, only bureaucrats do?
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