Foundation for Economic Education » Congress Disagrees over Consumer Protector

Congress Disagrees over Consumer Protector

Posted By Sheldon Richman

“There is broad agreement in Congress that government regulators failed to protect Americans from subprime mortgages and other risky credit products, but Democrats and Republicans split sharply Wednesday over creating a consumer watchdog agency to police the financial industry.” (Los Angeles Times ^[1], Thursday)

“Failed to protect?” How about that the government vigorously promoted subprime mortgages?

FEE Timely Classic
“The Subprime Crisis Shows that Government Intervenes Too Little in Financial Markets? It Just Ain’t So!” ^[2] by Lawrence H. White

Article printed from Foundation for Economic Education: http://www.fee.org

URL to article: http://www.fee.org/articles/in-brief/congress-splits-consumer-protector/

URLs in this post:

[1] Los Angeles Times: http://www.latimes.com/business/la-fi-consumer-agency25-2009jun25,0,965951.story

[2] “The Subprime Crisis Shows that Government Intervenes Too Little in Financial Markets? It Just Ain’t So!”: http://fee.org/pdf/the-freeman/0810FreemanWhite.pdf

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