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For too long, Americans have fallen victim to financial abuses at the hands of predatory lenders that operate in the shadows.

The mortgage crisis is a clear instance of consumers who needed protection. There was predatory lending to people who didn't know what they were doing.

Usury once in control will wreck the nation.

Today the predatory state, or the predatory group of states, with power of total destruction, is no more to be tolerated than the predatory individual.

Congressman Watt has a long history of advocating against predatory lending and the mortgage practices that caused millions of families to lose their homes.

Restrict bankruptcy rules.

States are not moral agents, people are, and can impose moral standards on powerful institutions.

Morally bankrupt wage practices and laws cannot hold.

Accepting federal funding undermines state sovereignty as states become beholden to federal requirements in order to keep the money flowing.

In 1978, we adopted a new Bankruptcy Code in the United States, and a principal part of this was designed to adjust to the new corporation, to find ways to let a corporation that had gotten into financial trouble reorganize itself. A big part of the selling point on this bankruptcy law was, 'It will preserve jobs.'