Harvard law professor Elizabeth Warren on the credit card industry

[whywhywhy]

Another professor. Anyone notice a trend?

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Elizabeth Warren is an expert on bankruptcy and is an outspoken critic of consumer lenders.

Recently she appeared before the Senate Banking Committee to discuss the abusive lending practices by credit card companies. She considers the interest charges and late fees imposed by credit card companies to a "hidden tax" on cardholders.

Warren is also the author of The Two-Income Trap: Why Middle Class Mothers and Fathers Are Going Broke.

[Granny]

Dr. Warren's books are excellent. She is especially right on target on how the two income family is at greater risk for financial failure than is a one income family from the 1950's. She should be required reading for all young couples.

My daughter just finished a 39 page paper, some of which is based on Dr. Warren's work. The paper is to become the basis for a class at her university. The professor believes that all students should be exposed to the dangers of using credit to finance life. I couldn't agree more.