Financial Product Safety Commission

We regulate all other consumer products to protect consumer safety- toasters, cars, food and drugs. Why not financial products? A negatively amortizing exploding option ARM with a prepayment penalty can do as much damage to you and your family as an exploding toaster, if not more. The great idea for a Financial Product Safety Commission- championed by Harvard Law Professor (and head of the Congressional Oversight Panel for the bailout money) Elizabeth Warren- looks like it is starting to gain some ground! Check out the Washington Post article here.