Ellen Seidman of the New America Foundation, who studies the financial-services industry, said the Consumer Products Safety Commission, the Federal Trade Commission and other consumer-protection efforts “have had a long history of being terribly underfunded,” making them less effective. There’s no guarantee a financial-products safety commission, strapped for funds, would escape the same fate -- especially when its goal is to intervene before “the bad stuff” gets to consumers, she said. LINK

• Email this page

See all New America articles, appearances & citations from Washington Independent