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Global warning,
Richard Rahn from the Cato Institute,
Small-dollar loan industry
If one phrase encapsulated the Vietnam War, it was this:
“We had to destroy the village in order to save it.” Those in the political
class in Washington have learned nothing, but perhaps more accurately, many
don’t care if their policy proposals and actions cause more misery than
benefit.
On Sept. 29, Congress held a hearing on the rules proposed
by the Consumer Financial Protection Bureau (CFPB) that would likely destroy
much of the small-dollar loan industry and drive many low-income and poor
credit-risk people into the arms of loan sharks.
