Todd Zywicki

There's some news buzz around Dick Durbin, Ted Kennedy, and Chuck Schumer's proposal, introduced earlier this week, to create a Financial Product Safety Commission (FPSC) that would regulate, among other things, mortgages, credit, and payday loans to "reduce [their] consumer risk." The Chicago Sun-Times even touted the commission as "Durbin's big idea." But, as Clay Risen noted this morning, the brain behind the idea is Elizabeth Warren, a Harvard professor, bankruptcy expert, and chair of the TARP Congressional Oversight Panel (COP). In her COP role, which Senate Majority Leader Harry Reid ha

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