Detailed text transcripts for TV channel - CNN - 20100508:17:49:00
Mark, is that if you simplify contracts between people like their mortgages or like their credit cards and people understand them well, we really can start to tackle personal responsibility. we can actually -- people can't sort of get out there and say i didn't know what i was getting into. >> no, i think that's fair. i mean, i think it's clear that many borrowers who got loans really did not understand them. and that is a failing of our regulatory process. i think it's important that regulations require lenders to provide all of the necessarissc information. i think also it's a failure of our...
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