By enforcing existing laws and involving state authorities early on, the agency could have made sure that the law was respected. No one would need to wonder whether the world of borrowing and lending works only one way: Families have to follow the legal rules, but the rules are optional for big banks.
That's exactly how McArdle wants the financial world to work: the elite make the rules, the lower classes follow them.
2 comments:
I re-read part of Megan's post on Warren, and the first paragraph seems to imply the elusive 'part 2 of 2' was already written and ready to go.
Julian Assange, can you look into this? I'm curious to read something so mean, petty and dishonest that even McArdle was too ashamed to post it.
Or too terrified--after Tom Levenson's post sparked a blogswarm of support for Warren. (It's Day 165 in the Countdown To Doom!)
She promised to explain Warren's paternalism as well. I was so looking forward to it.
But her latest (on why your facts are really opinions and her opinions are really facts) looks very promising.
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