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Beware of Exploding Mortgages

The New York Times‘s Gretchen Morgenson writes up Elizabeth Warren’s article calling for a Financial Product Safety Commission in the summer 2007 issue of Democracy

By The Editors

The New York Times‘s Gretchen Morgenson writes up Elizabeth Warren’s article calling for a Financial Product Safety Commission in the summer 2007 issue of Democracy. “We have basic safety regulations for nearly every product a consumer can buy, except the ones that ruin them financially,” Warren tells her. “We would not be where we are today with home mortgage foreclosures and millions of families in bankruptcy or on the brink of economic collapse if we had had better regulation of financial products.”

Read the entire article here [note: TimesSelect subscription required].

The New York Times

The Editors of Democracy: A Journal of Ideas are Michael Tomasky (Editor), Jack Meserve (Managing Editor), and Sophia Crabbe-Field (Associate Editor).

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