“The bill also has the wrong focus…”
June 30, 2010 | federal legislation, industry, positive media coverage | Comments (0)From Rep. Jeb Hensarling’s piece in USA today:
The bill also has the wrong focus, attacking gift cards and payday lenders while refusing to consider any reform of Fannie Mae and Freddie Mac. The two failed mortgage giants have already cost the American people $147 billion, yet Democrats disappointingly claim they are “too complicated” to address here.
Additionally, at a time when unemployment is hovering near 10%, this bill does nothing to create the jobs our economy desperately needs. Instead, it makes credit — especially small-business credit — less available and more expensive by creating a new federal loan czar with the power to ban and ration consumer credit products.
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