Tag archive

credit

Politics

How ‘The FREE Act’ Could ‘Freeze’ The Credit Industry

Between May and July, hackers breached the cybersecurity of Equifax, a company that provides consumer credit scores, exposing the personal details of up to 143 million U.S. consumers. This information included names, driver’s license numbers, and Social Security numbers. Democrats immediately jumped at the chance to regulate the credit industry. Sen. Elizabeth Warren (D-MA) and Sen. Brian Schatz (D-HI) proposed the Freedom from Equifax Exploitation Act (FREE Act), a panicked, overreaching response to an event that doesn’t define or represent the credit industry. The FREE Act would ultimately enable the excessive and unnecessary regulation of a credit industry that provides… Keep Reading

Economics

Inequality Is A Non-Issue (Part 1)

A large number of people are convinced that rising inequality between the rich and the poor is the primary driver of the ills that plague our society.  Both the #Occupy movement that arose after the housing bubble burst, and the fervent support for the self-proclaimed socialist Bernie Sanders, are proof of this. This opinion is backed by supposed logic and apparent economic law that can be articulated in ways that are quite convincing.  I recently came across an article that attempts to prove the thesis that capitalism generates inequality, and which offers a policy proposal (addressed in Part 2) that will… Keep Reading

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