October 6, 2008 · Lessig
Harvard Professor Elizabeth Warren tells the (incredible) story of a rule imposed on witnesses who wanted to testify in a credit card hearing that would permit the credit card companies to reveal their private financial data. “Only fair,” defenders of the rule stated, such as Congrssman Bachus (R-AL). But when Warren asked whether the credit card companies would have to provide support for the factual claims they made, the answer was silence. Only consumers have to waive their privacy to testify. Credit card companies get to say whatever they want, without having to establish any factual basis.