Unintended consequences

Unintended consequences

Cry Wolf Quotes

The present law removes all responsibility from the purchaser and fosters litigation. It invites nuisance suits and spurious claims.

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Frank Gordon, president of the Investment Bankers Association
10/31/1933 | Full Details | Law(s): Trust in Securities Act

The Community Reinvestment Act does not appear to have had any positive effect on lending to residents of LMI neighborhoods. In fact, it appears to have had a negative effect on CRA lenders and LMI residents alike… While both CRA- and non-CRA lenders have increased the number of loans to low-income borrowers, the financial soundness of CRA-covered institutions decreases the better they conform to the CRA.

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Michelle Minton, Competitive Enterprise Institute

This bill will make it difficult for the poor baker to continue to exist, thereby making it easier for the large baker to combine with his larger brother and increase the price of bread or lower the size of the loaf, why, that is a very strong point in opposition to this bill, because the very people you are going to aid—the poor have got to be taken into consideration.

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Harold M. Phillips, of the United States Real Estate Owners Association. Only date available: 1913.
01/01/1913 | Full Details | Law(s): Triangle Factory Laws

Nonetheless, if the goal of the Coastal Zone Minimum Wage is to help low-income workers in Santa Monica, the Ordinance is worse than useless. The direct benefits of the Ordinance are more poorly targeted than in any social welfare legislation we have ever studied.

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Richard H Sander., E. Douglass Williams, and Joseph Doherty. City of Los Angeles.
10/01/2002 | Full Details | Law(s): Living Wage