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i'm really surprised to read that the president signed into law the college cost reduction and access act.
how un-republican of him to care for the citizens rather than the loan companies, unless of course the rich students are the recipients.
i'm really surprised to read that the president signed into law the college cost reduction and access act.
how un-republican of him to care for the citizens rather than the loan companies, unless of course the rich students are the recipients.
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Wow, that cellphone bill (heh, \"bill\" instead of \"legislature\") is pretty impressive. Really impressive, actually, which makes me think it'll never make it. Or at least, if it does, it'll be castrated.
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!#$#@!$!@#$@#!$#$
All the ones I ACTUALLY care about are STILL either pending or languishing in the Senate. Thanks alot Congress.
The arbitration act is the most important of them all. In the last 7 years I have seen over 1000 people go to arbitration and only 1 person won. The company then turned around and ignored the award. Arbitration is 100% stacked against the consumer and denies consumers the right to a fair trial. The companies are the ones who pay the arbitration people to make judgments. Who do you think they are going to rule for then?
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@karmaghost: I get an impressive cell phone bill every month.@picantel: Did you know that the architects have developed a new form of the AIA A201 standard construction contract terms between owners, architects and contractors that drops the requirement from earlier versions that imposed mandatory arbitration on the parties? Arbitration was getting so like trial that they said screw it, let's just default to litigation unless the parties choose another form of form of dispute resolution.
All this consumer protection legislation must really burn the Libertarians who think \"reputation\" and inborn \"rational acting\" should be enough to prevent monopolistic action and corporate abuse of private citizens.
Much of this legislation is only consumer friendly if you are the kind of consumer that doesn't want to take any responsibility for your actions. Nanny-statism at its best.
Several of these such as the Passengers Bill of Rights are only necessary because the markets are closed BY legislation already.
Either that or you are the corporation who is the consumer, gaming the system under the guise of consumer protection.
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H.R. 2669: College Cost Reduction and Access Act
What It Does: Steals money from rich student loan companies and gives it to students.
Where's my money?
...
Ok. For the last time consumerist. Prove that arbitration is bad for consumers or employees. The win rates for consumers who bring complaints against businesses are nearly identical to those that go to trial (around 60%)and at lower cost and with faster resolution time. The win rates for businesses who bring the complaint are, yes, over 75%, but they are even higher with trials, and tend to cost the consumer more.
The ONLY party that is enriched by arbitration being eliminated are TRIAL LAWYERS. Now, I know Carey loves John Edwards, but trial lawyers impose serious cost to consumers and business. Half the legislation on this list is going to make it easier to bring suit against corporations. While that may appear to be a benefit to consumers, anyone who has ever received a $20 check from a class action while the lawyers receive millions in fees knows it is not. There is a reason first-year associates make 150k+ a year while other industries are cutting pay.
@Tracy Ham and Eggs: I agree with part of your post, however, you're mistaken if you think all first-year associates make $150K+. Associates sometimes make as little as $50K a year, depending on their specialty and the location. Also, not all law school grads become associates -- some work for local legal council, nonprofits, etc. They may make more like $30K/year and then still have to pay off $100K school debt.
Just sayin' (I'm not a lawyer myself, but I know a few of the nonprofit variety). You're thinking of the antitrust lawyers, who for sure make a lot, but probably make up a fraction of all lawyers.
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Did this go through with all of it's accoutrements? I.e. the 20 year limit on repayment?