• Dim Sum Posted: 6/25/2010 11:55am PDT

    Why are we allowing lobbyists to force change?

  • WilliamC Posted: 6/24/2010 10:51pm PDT

    Under a proposed compromise from Senate Democrats, auto dealers would still be covered by federal truth-in-lending rules that would have to conform to regulations adopted by the consumer agency.Auto dealers are going to fall under regulation from the recently formed Consumer Financial Protection Agency, and the auto dealers are trying to get an exception out of this new agency. To an auto lender, the new laws are only going to restrict their lending practices and the automobile financing they can offer their customers therefore crippling the industry more. Even though the vote is going to be held today on the matter, it might be a close call. According to both sides of the debate, the customer's best interest is all they are looking out for.

  • JavaJunkie Posted: 6/24/2010 7:33am PDT

    Great use of time and taxpayer money because people are unwilling to think for themselves. As far as the general public not caring, I think lots of people care. You make one bad deal and your level of caring will increase dramatically. A law is enacted, and then someone needs to find a lawyer to sue or defend themselves. Yep-heading in the right direction.

  • fb_100001137592380 avatar Yo Posted: 6/23/2010 11:57pm PDT

    You can't mention government these days without luring out left and right wing nut bags. This is nothing new and nothing that would change under any party or president. We got the government we voted for. That's all there is to it.

  • Damien Thomas Posted: 6/23/2010 8:52pm PDT

    We can always do with more regulation. Can you detect my sarcasm?

  • richard avatar Richard Posted: 6/23/2010 4:48pm PDT

    @Liberal: Not sure what you're getting at, since it appears to be the dealer lobby (primarily) that's forcing the change in legislation.

  • yuval Posted: 6/23/2010 3:32pm PDT

    I am not sure Where are we heading to.

  • Eric Berlin Posted: 6/23/2010 3:29pm PDT

    It definitely is something of a balancing act, to allow markets to regulate themselves while protecting consumers against those lenders who are indeed predatory and play on the fact that most people can't/won't read through the fine print.

  • marv Posted: 6/23/2010 2:38pm PDT

    The states have no record for consistently being able to keep a handle on this stuff. Let it be a free market or apply some consistent federal rules--one or the other.

  • liberal Posted: 6/23/2010 2:09pm PDT

    What happened to Obama's transparency?

  • jim baker Posted: 6/23/2010 2:09pm PDT

    I 100% agree with this sentence: "...The American economy is a curious thing".
    So true - specially with the automotive industry wonderful shape.

  • Angry Voter Posted: 6/23/2010 11:41am PDT

    Ah, congreswhores - the best government money can buy.