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Reform school.(FROM OUR PRESIDENT)(Brief article)(Column)

Consumer Reports

| December 01, 2008 | Guest, Jim | COPYRIGHT 2008 Consumers Union of the United States, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

While much about the U.S. economy will change between the time I write this column and when you read it, the position of Consumers Union will not.

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Whatever happens with the markets, financial firms, and inconceivable amounts of cash that Congress will dole out, CU believes that certain steps are essential to protecting Americans caught in the chaos. These fundamentals should have been in place from the start:

Vigorous oversight. Strong new rules that establish a proactive, transparent regulatory culture, as well as dogged enforcement, are critical to avoiding a repeat of the abuses and mistakes that have put the country in such a tenuous position. We're not promoting needless regulation; we're calling for astute analysis, increased assessment of risk, and reasonable regulatory oversight.

Protection from foreclosure.

Mortgages should ...

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