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Bobhorn Leghorn says it will hamper innovation. I'm sure it will, Bob -- like some of the innovations buried in the pages and pages of tiny print that come with the contract for your credit card. It was startling the other day to read a comment by a Harvard Law professor who may be tabbed to head the agency. She noted that even she -- a professor who teaches contract law -- couldn't decipher the meaning of some of the wording in credit card contracts she had examined.
You'd think that, after the market's recent experiences with derivatives, subprime loans packaged as investments and the like, our leaders would favor a little less innovation by the jokers who brought you the recent financial collapse.
This just tells you who's paying Bob's way.