Preventing Predatory Mortgage Lending…
This morning I attended DMI's Marketplace of Ideas event on Preventing Predatory Mortgage Lending. Here's the link to the liveblog re-cap of the event.
Making the link between preventing predatory lending and the civil justice system, Minnesota Attorney General Lori Swanson noted the importance of preserving a private right of action for individuals victimized by predatory business practices, while larger-scale, policy-level efforts work on the structure that allows for the people to be victimized in the first place. This concept of the civil justice system as one of the many different "cops on the beat," as Swanson put it, applies not only to the home foreclosures context but to any other context in which corporate activity, government regulation, and individual decision-making intersect.
Swanson's insights gave the audience a fresh perspective on the importance of a strong civil justice system as just one component of a comprehensive effort to ensure that the government is working for the public good, that businesses are operating responsibly and safely, and that individuals are empowered to make the most informed, responsible decisions about their welfare.
Again, the liveblog from this morning's event is really worth the read.