Word: lauritano
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...Group, a Philadelphia-based economics consulting firm, released a report contending that personal bankruptcies cost each American household an average of $400 a year. Paid for by MasterCard International and Visa USA, the WEFA study put the overall cost to the economy at $44 billion in 1997. Said Mark Lauritano, a WEFA senior vice president: "Clearly, the American consumer is facing a significant burden as the result of bankruptcy, both through higher prices and increased interest rates." The dollar-cost claims--which were disingenuous at best--would become the most widely quoted statistics in the campaign that produced the legislation...
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