Other Contributors

About Us

The contributors to the Consumer Law & Policy blog are lawyers and law professors who practice, teach, or write about consumer law and policy. The blog is hosted by Public Citizen Litigation Group, but the views expressed here are solely those of the individual contributors (and don't necessarily reflect the views of institutions with which they are affiliated). To view the blog's policies, please click here.

« Building a New Consumer Protection Agency | Main | The Cost of Accessing Academic Research »

Wednesday, July 07, 2010


Jeff Sovern

Thanks, Brian. I also think the fact that many borrowers are underwater but still paying their mortgages undermines claims that the subprime crisis was caused solely by a decline in housing prices and not by a failure of consumer protection because it indicates that something other than a decline in home prices is needed before borrowers default--such as an affordable loan that should never have been made and that the borrower did not understand the terms of.


This is interesting -- and not terribly surprising. Its findings are consistent with the norms associated about consumer-business transactions generally. When a business defaults on a contract -- say, a pre-paid one-year subscription for a product or service -- because it has gone out of business, generally people don't think of the business as having done something morally wrong. But if the consumer defaults after receiving a product or service, it is often considered morally questionable (or worse), even if the reason is understandable (such as loss of a job).

The comments to this entry are closed.

Subscribe to CL&P

RSS/Atom Feed

To receive a daily email of Consumer Law & Policy content, enter your email address here:

Search CL&P Blog

Recent Posts

September 2022

Sun Mon Tue Wed Thu Fri Sat
        1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30