Only a limited number of states have laws and regulations in effect to protect borrowers.

You could have 50 different states having 50 different regulations ... until they were all litigated out.

There are no laws or regulations that would prevent that.

It seems to me that states ought to be able to have laws to protect the citizens of their state. I don't see where the Coast Guard should have the right to say 'No, you can't'.

That's something that I think is within the bounds of the laws and regulations there are, but still I think it really is a first in American politics.

The more laws and restrictions there are, the poorer the people become.