The Subprime Implosion: It Gets Worse

In an editorial about the growing crisis surrounding subprime mortgages, The Philadelphia Inquirer discusses Elizabeth Warren’s plan for a Financial Product Safety Commission, which appeared in the summer 2007 issue of Democracy. The paper’s editorial board writes:

An underlying problem in the lending industry is its fragmented and uneven regulation, with numerous regulatory agencies at the federal and state levels. Perhaps it’s time for an intriguing idea put forth by Elizabeth Warren, a Harvard law professor. In the journal Democracy, she suggests the creation of a “Financial Product Safety Commission” along the lines of the highly effective Consumer Product Safety Commission.

Read the entire editorial here.

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