Word: emptor
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Elizabeth Hanford, 37. The days of total caveat emptor are past if Hanford, one of five members of the Federal Trade Commission and an experienced consumer advocate, has anything to say about it. A Phi Beta Kappa from Duke University, she took a law degree at Harvard in 1965. She was a legislative aide to Lyndon Johnson's consumer adviser Betty Furness, became deputy director of Richard Nixon's Office of Consumer Affairs under Virginia Knauer. Her biggest interest is the promotion of consumer education. Immediate goals: tighter regulations on credit bureaus and federal aid to states...
...Caveat Emptor...
...course, in everything, caveat emptor...
Slogans Sell. At 33, the gaunt, olive-skinned attorney (Harvard Law, '58) is a new kind of lobbyist on the Washington legislative scene. As chief caveat caller to Emptor Americanus, he has no constituency but the American consumer, no financial backing beyond what he can generate from lectures and writing (his auto-safety book, Unsafe at Any Speed, sold 450,000 hard-cover and paperback copies, earned him $55,000). Nader's success is largely due to his unerring flair for phrasemaking, backed by diligent research. A self-taught speed reader, he flips through thousands of pages...
When it comes to consumer credit, the rule applied by many a department store, used-car dealer and friendly finance company is caveat emptor. Yet in an economy where outstanding credit totals $92.5 billion-at an annual cost of $12.5 billion in interest-the wary buyer or borrower is rare. Some of the interest rates charged-and paid -in the U.S. would scandalize Shylock. A Manhattan woman bought a $300 sofa that actually cost her $624 after two years of installment payments with interest of 108%. A Jersey City man ended up paying $420 for a TV set priced...