How consumer protection laws harm consumers

Please Stop "Helping" Us
How consumer protection laws harm consumers
John Stossel December 30, 2010
h/t Reason Magazine

Last year, Congress passed the Credit Card Accountability, Responsibility and Disclosure (CARD) Act. It was supposed to really end the alleged abuses perpetrated by the credit card companies. The law forbids some penalties and interest-rate increases on existing balances.

It is one of President Obama's proudest achievements.

"Enough's enough," he said. "It's time for strong, reliable protection for our consumers."
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