Consumers Prepare to Grab Your Ankles

Last night, I linked to a profile of Terry Smiljanich of the Consumer Warning Network and embedded one of his videos.

In both the Dow Jones piece and the YouTube, Mr. Smiljanich came down very hard on South Dakota because they eliminated usury laws in 1980, which explains why so many people get credit card statements with a Sioux Falls return address.

This morning, we hear word that Sen. Tim Johnson of South Dakota has the backing of many prominent Senators to become chairman of the Senate Banking Committee, once Sen. Chris Dodd is out of office.