Unintended Consequences of Credit Card ‘Reform.’ “‘We basically socialized the bearing of the risk,’ said Ken Clayton, managing director of card policy for the American Bankers Association, a trade group. ‘That’s why good customers sometimes have to bear the cost of the risk that others pose.’”
Ponnuru on Repositioning Conservatism. “The [GOP] problem has instead been that voters have not thought Republicans of any stripe had answers to their most pressing concerns. Addressing those concerns, rather than repositioning itself along the ideological spectrum, is the party’s main challenge.”