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Forum (Forum & Focus)

Jun. 2, 2009

Scrutinizing Financial Products

Why does the government regulate consumer products like toothpaste, but not financial products like mortgages, asks Amelia Warren Tyagi.

FORUM COLUMN

By Amelia Warren Tyagi

Imagine buying a tube of toothpaste. After using the toothpaste, you are rushed to the emergency room to have your stomach pumped. The paste contained rat poison. But, when you try to complain, you are told that you should have read the label more carefully, as the ingredient list included hydroxycoumarin. You are told that you should have known that meant rat poison.

Now imagine if the conclusion of mos...

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