By Tim Fernholz. The American Prospect. September 9, 2009.
I've got a story today on how the Chamber of Commerce and other business interests are trying to kill the proposed Consumer Financial Protection Agency with 'death panel' tactics -- exaggerating the affects of the legislation and making it seem as though it would harm ordinary Americans. But these kinds of moves aren't unusual. In the 1970s, there was momentum toward creating a Consumer Protection Agency that would act, essentially, as a kind of clearinghouse for consumer complaints, rather than an actual regulator with enforcement powers. But as Lawrence Glickman chronicles, its opponents also reacted with outrageous rhetoric:
The History of Consumer Protection Scares
By Tim Fernholz. The American Prospect. September 9, 2009.
I've got a story today on how the Chamber of Commerce and other business interests are trying to kill the proposed Consumer Financial Protection Agency with 'death panel' tactics -- exaggerating the affects of the legislation and making it seem as though it would harm ordinary Americans. But these kinds of moves aren't unusual. In the 1970s, there was momentum toward creating a Consumer Protection Agency that would act, essentially, as a kind of clearinghouse for consumer complaints, rather than an actual regulator with enforcement powers. But as Lawrence Glickman chronicles, its opponents also reacted with outrageous rhetoric:
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