News for hackers. Stuff that matters.

A comment on Move to Pull Consumer Protection Rule Heightens Debate over Payday Lending. Parent comment

Re:Move to Pull Consumer Protection Rule Heightens Debate ov... by murph-almighty on Thursday March 07, 2019 @10:22AM (#19328710)
Generally speaking, the golden rule of public policy is that policy begins where markets fail.

The race to the bottom you're describing is a failure of the market to consider for their customers, and that's where regulation steps in.

[ Parent | on HN ]
Re:Move to Pull Consumer Protection Rule Heightens Debate ov... by dsfyu404ed on Thursday March 07, 2019 @10:47AM (#19328957)
>Generally speaking, the golden rule of public policy is that policy begins where markets fail.

Too bad the people writing policy don't follow that rule. It seems like they're eager to use policy to meddle in things that are working and won't use it to fix things that are broken.

[ Parent | on HN ]