Spencer Bachus: “I would hope that this incident at JPMorgan reinforces the notion that internal risk models often fail...”

In this economy, the last thing we need is to make it harder for businesses to operate and employ workers, and by that I mean legitimate businesses.

In a perfect world, there will be no payday lenders.

However, my continued concern is that the program threatens to dry up legitimate sources of credit and financing.

If you are imposing costs on the system, you should have to internalize them.