WARREN WARNS OF CREDIT CARD LOBBYPOCALYPSE
TARP Oversight Chair Elizabeth Warren was on the Rachel Maddow show, discussing the ongoing battle to regulate the credit card industry.
MADDOW: Are you worried that the [credit card] industry's going to be about to kill [credit card reform legislation] in the crib? Reporting is that it's their top priority to get rid of it.
WARREN: My gosh! I have to tell you, it's like they're stampeding in the halls already in Washington. the Gucci loafers. These guys have built up a huge war chest, they've been interviewing public relations firms to see who can come up with the next Harry And Louise ad to explain to the American people why they'r better off with credit cards that nobody can read, hundreds of pages of mortgage documents that nobody can read...the idea is you're better off with how things are...forget all that stuff the happened over the last few years. And we promise to keep things up just like we did before. I just can't believe theyr'e trying to sell that to the American people.