Mark Calabria was a Deputy Assistant Secretary in the Department of Housing and Urban Development under President George W. Bush. He is now the Director of Financial Regulation Studies at the Cato Institute. He says government officials believe they should spend money educating consumers and providing classes in what is called “financial literacy.” But he says such training did little to keep people from losing money during the recession.

Mister Calabria says there is a danger in government providing so much free consumer information. He fears that consumers will come to believe that the government has made judgments about products or investments. As a result, some people feel little need to do any investigating of their own.

MARK CALABRIA: “You are undermining the incentives for the consumer to make decisions and do their own research…I think we’re lulling people into a sense of false safety and at the end of the day I think they’re becoming worse off because of it.”

You can find links to consumer protection publication and pictures of the Montgomery County consumer fair at voaspecialenglish.com.

Clarence Clemons

DOUG JOHNSON: The United States lost a favorite musician last week. Clarence “Big Man” Clemons died on Saturday, a week after he suffered a stroke.

Clarence Clemons played saxophone in Bruce Springsteen’s E Street Band for forty years. His performances in many Springsteen songs were memorable. But Clemons also was a calm and constant spirit in the band.