"Collateral damaged" explains how America had turned from a nation of savers into a nation of consumers addicted to debt. Wall Street then used that addiction to create "toxic securities" that threaten to bring about the collapse of the global economy. How can America get its fiscal house in...

Is financial literacy a substitute or complement for financial advice? In this paper we analyze the decision by consumers to seek financial advice in the form of credit counseling concerning their credit and debt. Credit counseling is an important component of the consumer credit sector for...

The U.S. Department of the Treasury has submitted the Consumer Financial Protection Agency Act of 2009 to Congress for the purpose of overhauling consumer financial regulation. This study has examined the likely effect of the Act on the availability of credit to American consumers. To do so we...