"You're trying to manage forward," Joanne Garneau says, "but you have to look over your shoulder to see what's coming at you."
Irvine, CA (PRWEB) November 11, 2010
Reason TV's latest documentary short is a lens into burdensome regulations being drafted in Washington D.C. which are hindering job growth and economic recovery.
In the documentary, Joanne Garneau, CEO of Nationwide Support Services, Inc. ("NWS"), sat down with Ted Balaker of Reason TV to discuss the current state of the economy and how government over-regulation and "experimentation" has threatened the future of her industry and its ability to grow.
For an entire year, NWS has operated under the threat of a potential industry shutdown at the hands of the Federal Trade Commission regarding a new set of rules announced earlier this year. Although her business was growing, educating consumers and helping them avoid bankruptcy, Joanne admitted that she was hesitant to expand more rapidly, knowing that at any time the FTC or some other agency could levy new regulations and cripple the industry. "You're trying to manage forward," Joanne Garneau says, "but you have to look over your shoulder to see what's coming at you."
Garneau’s hesitancy towards expansion were well warranted, as new Federal Trade Commission regulations announced in July effectively banned debt resolution companies from collecting fees up front. This sent shockwaves through the industry. Garneau explains how “it is basically a rule…that is aimed at putting us out of business.”
These regulations, touted by lawmakers as protecting consumers, will have the opposite effect. Garneau warns that they will only “force more people into bankruptcy” while negatively affecting the industry and “putting people out of work.”
NWS has been an industry leader; continually invoking new and innovative ways to help the consumer extricate themselves from their financial problems. While the end goal of debt resolution companies is to negotiate a settlement with creditors, effectively eliminating the consumer’s debt at a reduced price, NWS places a large focus on education. The educational focus is on the upcoming process, guidance regarding the clients situation, and most importantly, raising the consumers’ financial literacy to ensure that once they overcome their debt, they won’t fall back into the same habits that landed them in debt.The short documentary ,“Where are the Jobs? The Parallels between Today and the Great Depression”, featuring Joanne Garneau, can be viewed on youtube.com or ReasonTV.com.