"When you buy a toaster, if it explodes in your face, there's a law that says, 'Your toasters need to be safe,' " Obama said. "When you get a credit card or you get a mortgage, there's no law on the books that says, 'If that explodes in your face, financially, somehow you're going to be protected.' "
That analogy is flawed. The consumer had nothing to do with the manufacturing of the defective toaster. The consumer does, however, have a hand in the credit card "explosion" when they consistently overspend their limit and make late payments. Same with a mortgage when the zeal for the pursuit of "the American dream" clouds judgment in whether the mortgage is sustainable.
Measures like this encourage my belief that most people are stupid and need protection from themselves. Unfortunately, Obama will give them that along with the sense that it is something to which they are entitled by right.
2 comments:
It's almost as if ppl don't have responsibility anymore.
Joe,
They don't, by default, thanks to trial lawyers.
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