Quote:
Originally Posted by Tyrone Slothrop
I think Elizabeth Warren is going to be a great Senator.
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She's going to create work for lawyers and accountants. That's good... for us.
Whether enshrining into law the notion people are incapable of reading loan documents, and can't avoid being fleeced by lenders without aid of a govt agency to watch their back is a good thing is another question. I'm not against the consumer agency's banning things like cross-defaults in unrelated consumer loans. But I am nervous about society being told, "Don't bother learning how to navigate a lending agreement. The govt will make it all nice and safe for you. It'll make sure you can stay as uneducated on the subject as you like. Nanny has your back."
(And, of course, the implicit message - that people cannot live without consumer credit, and therefore we need an agency to make sure they get it on terms most advantageous to them - is disturbing.)
