The constant drumbeat of the attacks on consumer protection laws by big business and their friends on the editorial board of the Wall Street Journal is making me think, wouldn’t it just be easier to just let corporate miscreants do what they want? So what that the giant medical device industry keeps paying off doctors to implant dangerous heart devices into patients. Some measly DOJ fine isn’t gonna stop that, right?
If you’re with me, I want to tell you that there are some great things happening around the country. In fact, speaking of hearts, in Ohio, the Cleveland Plain Dealer reports,
While we're in the middle of one of the busiest shopping seasons of the year, the Ohio House is preparing to tear up the Consumer Sales Practices Act as a little gift to the state's auto dealers [with] a change that would make it easier for companies that cheat consumers to wriggle out of serious consequences. … It wouldn't do away with the law wholesale. Instead it surgically removes the law’s heart.
Make more sense than giving this law a defective pacemaker. Then in New Jersey, Sy Larson, President of AARP New Jersey writes in the Daily Record,
Some of the regulations that currently protect all of us, as consumers, may no longer be enforced if some new rules being considered by the New Jersey Division of Consumer Affairs are implemented.
Indeed, these new rules being considered by the division actually would allow businesses, in some cases, to ignore established laws that protect consumers — without notifying the public of the act. …
Consumer protections such as The Used Car Lemon Law and The Telemarketers Do Not Call Act are just two of the many consumer protections that could be rendered essentially worthless.
Look, you know you’re absolutely dying for more telemarketers in your life. Don’t you lie to me!
Now let’s turn to the property/casualty insurance industry, who were skewered pretty badly by a Huffington Post piece today:
Because of their protective role in the lives of ordinary citizens, insurers have long operated as semi-public trusts. But since the mid-1990s, a new profit-hungry model, combined with weak regulation, has upended that ancient social contract.
Weak regulation? That's just silly. It's no regulation, more like it. In New York, writes the Buffalo News:
Insurers in New York no longer have to file their rates with regulators and obtain approval before issuing commercial insurance policies to companies, nonprofits or government agencies that are considered large and sophisticated.
Ooh, sophisticated! So in other words, just let the insurance industry regulate itself cause the "free market" works so well when it comes to insurance.
Actually, that’s a little tease. Stay tuned tomorrow – we’ll have a lot more on that! Promise.



