Quotes

The Cry Wolf Quote Bank chronicles the false predictions and hyperbole by opponents of these laws and protections.  While the issues and specific policies change over time, the rhetoric and themes remained the same.  You can search the Quote Bank for what opponents said to prevent these laws from passing. Using the drop down menus on the right their statements by issue, by specific law, by who said it and by the core themes they evoke.   Elsewhere on the site, you can find articles, studies, and other material that debunks their claims. 

E.g., 2019-11-17
E.g., 2019-11-17

[The bill would] have a dramatic impact on the ability of consumers, small businesses, students, and others to get credit at a time when our economy can least afford such constraints.

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American Bankers Association, AP
05/12/2009 | Full Details

ABA is very concerned about the direction this legislation is headed and we are concerned over the impact it will have on the ability of consumers, students and small businesses to get credit cards.

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Ken Clayton, senior vice president of card policy at the American Bankers Association, Washington Post.
05/12/2009 | Full Details

Creating a government-run plan -- in any form -- to compete alongside the private sector for non-Medicare/Medicaid eligible individuals is unnecessary to achieve comprehensive reform and would have devastating consequences.

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Scott Serota, president of the Blue Cross and Blue Shield Association, statement submitted to the Senate Finance Committee.
05/05/2009 | Full Details

If you compare what the card industry looked like 20 years ago to how it looks today, you’ll be astonished at how much better a deal consumers are lately getting. And government regulation isn’t what drove the improvement; free-market innovation and competition, did. Twenty years ago, all consumers paid the same interest rate—and it wasn’t low (19.8%).

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Thomas Brown, financial columnist, Bankstocks.com.
05/01/2009 | Full Details

The bill would, for instance, prohibit card companies from changing the rates they charge ‘at any time, for any reason.’ Translation: instead of a borrower’s interest rate varying up and down, it will just stay up. Or fees will rise, to offset issuers’ loss of pricing flexibility.

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Thomas Brown, Bankstocks.com.
05/01/2009 | Full Details

Dodd’s misbegotten bill would reduce competition and raise costs for the consumer—all so his office can generate press releases that say things like ‘Dodd Fights Card Companies.’ In fact, his fight will end up hurting his own constituents.

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Thomas Brown, Bankstocks.com.
05/01/2009 | Full Details

The President's plan, although touted as a means of promoting higher education, is not. The plan does not reduce the cost of student loans for a single student. Students and parents need to know that under this proposal, the government's profits on student loans borrowed by middle income students will be used to finance other student aid.

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The Consumer Bankers Association’s Director of Government Relations, Marcia Z. Sullivan. Consumer Bankers Association’s press release.
04/24/2009 | Full Details

CBA also disputed administration claims that eliminating the FFEL program would not result in poorer customer service to students and parents. More than 30,000 people are currently involved in helping students via the FFEL program. These experts understand students' loan obligations and how to get students the help they need when facing difficultly in repaying their loans. Firing them and hiring some untrained replacements, as the President proposes, would be a huge setback for educational opportunity.

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The Consumer Bankers Association’s Director of Government Relations, Marcia Z. Sullivan. Consumer Bankers Association’s press release.
04/24/2009 | Full Details

If we have more government involvement we’re going to have dramatically worse health care.

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Richard Scott, leader of Conservatives for Patients Rights former CEO of Hospital Corporation of America and current Florida Governor
03/03/2009 | Full Details

As the national struggle to deal with a severe economic crisis and a national unemployment rate of 8.1 percent — the highest level since 1983 — it is a critical time to reinforce successful solutions, not abandon them. Ensuring the continuation of thousands of jobs for individuals singularly focused on helping millions of students enter and succeed in higher education is a “win-win” in today’s deeply stressed economy. It preserves jobs for the workers of today, while guaranteeing access to aid to millions of students whose skills will help maintain the nation’s pre-eminent place in the global economy.

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From a March, 2009 memo circulated around Capitol Hill by student loan lobbyists.
03/01/2009 | Full Details

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