“What we have pointed out is that we often hear promises of greater resources devoted to R&D (as a result of a merger), but there is absolutely no proof that in the mergers over the last three to five years that that has occurred.”
“[The new law will likely mean higher legal fees, because of added responsibilities and costs.] I know prices are going to go up, ... Whether some lawyers take advantage and charge an arm and a leg, we'll be looking out for that.”
“If your credit card bills are completely out of control and far beyond your ability to afford them, then the relatively minor breaks that credit card companies offer to people in credit counseling may not provide enough breathing room for some people to afford a three- to five-year debt-management plan.”
“We support credit counseling, especially if it's delivered early, and this is not early intervention. This is late intervention at the point where people have decided that bankruptcy is the only way for them. We just wonder whether this kind of late intervention will be helpful to too many people.”
“They'll never get a fresh start, ... And over the long haul, this can have a significant impact on the economy, if a large number of people can't get back to being ordinary consumers.”
“We don't want this credit counseling requirement to be yet another hurdle that consumers who really need bankruptcy relief have to jump over to get it,”
“The best thing that Congress could do right is to go back to the drawing board and offer targeted assistance to the relatively few businesses that can't get terror coverage, like some skyscrapers,”
