The latest incomprehensible outrage

I don’t like bullies. I’m unable to contain my anger when I see vulnerable people being picked on. One of the most disgusting things a political party can do – on either side – is take advantage of a position of power to enrich one group at the expense of another group that is literally without the means or the voice to defend itself.

Which is exactly what regulatory rollback in the financial services industry is all about. Who would have thought that just a decade after the financial crisis, we would already be lamenting the consumer protections that are meant to curb the industry’s worst abusers? And who would have thought that the very people who are most at risk from financial violence would be the biggest supporters of it? Whole f***ing world’s being turned upside down right now.

This morning I went on MSNBC and discussed the topic of payday lending regulatory rollback with Bloomberg’s Tim O’Brien and my friend Stephanie Ruhle. She almost can’t believe what’s going on, and neither can I.

Here’s a whole article explaining what’s going on:

Consumer Protection Bureau Cripples New Rules for Payday Loans (NYT)

Source:

Trump admin to roll back Obama-era payday lending rules (MSNBC)

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  1. The latest incomprehensible outrage – Financial Solutions commented on Feb 07

    […] I don’t like bullies. I’m unable to contain my anger when I see vulnerable people being picked on. One of the most disgusting things a political party can do – on either side – is take advantage of a position of power to enrich one group at the expense of another group that is literally without the means or the voice to defend itself. Which is exactly what regulatory rollback in the financial servi… Source: https://thereformedbroker.com/2019/02/07/the-latest-incomprehensible-outrage/ […]

  2. This Week on TRB commented on Feb 09

    […] did Stephanie Ruhle’s show on MSNBC this week from 30 Rock to talk about the latest incomprehensible outrage – the removal of protective regulations from the payday loans industry, which seems to have […]

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