Thursday, February 24, 2011

Apropos Of Absolutely Nothing

If FLG never heard or saw Elizabeth Warren again, it would be too soon. The lady drives FLG up a freakin' wall.

2 comments:

Withywindle said...

Why?

FLG said...

Because she's about the worst person who I can imagine putting in charge of anything to do with finance.

First, she's a lawyer, which always worries me because in general they're not very good at math.

Second, I think she's loose with the facts.

Megan McArdle identified some inconsistencies in Warren's scholarship. Some of which was a fair critique, some which wasn't.

But she says things like the credit card companies cost the American public $137 billion a year. How'd she come up with that number? Their revenues. All of them. Not just ones she deems inappropriate or unfair, perhaps excessive late fees, but also annual fees and interest payments. So, either she thinks the entire credit card industry is irredeemably evil and unjust or she's being dishonest. Well, maybe just loosey goosey.

 
Creative Commons License
This work is licensed under a Creative Commons Attribution-No Derivative Works 3.0 United States License.