Released: April 26, 2009

Our lending law is worth saving

Source: Al Ripley and Carlene McNulty, The News & Observer (Free Registration)

Everyone knows that lawmaking in Congress can be a crazy and confusing process. That’s part of the genius of the American system: It takes a lot of hard work and compromise to get a majority of the 530-plus lawmakers to agree to just about anything.

When it comes to vitally important and extremely complex legislation like mortgage lending reform - an area featuring dozens of high-powered interest groups and in which millions of individual and corporate livelihoods are at stake - it’s a wonder that anything coherent even gets introduced, much less passed into law.

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