I recently noted how left-leaning politicians rely on government to remedy all ills of a relatively small population, while imposing more and more socialistic restrictions in that effort.
The bottom line is that the consumer pays dearly for ineffective do-gooding efforts.
Example: Many borrowers who use credit cards, or take out mortgages and loans, make stupid decisions. Big Government folks will tell you we need more regulations and financial product safety. Yet you cannot legislate or regulate against all stupidity. Not without consequences.Those merely translate into more costly government bureaucracy with little to show for it.
Larger print in consumer contracts will surely help. Along with better schools we already are paying for, so the public can understand basic financial contracts placed before them.
What the government effort actually does is make credit more scarce. And therefore more expensive for those with good and bad credit alike.
No comments:
Post a Comment