Elizabeth Warren’s latest
December 3, 2009 | federal legislation, industry | Comments (0)The head of the TARP and erstwhile head of the proposed Consumer Financial Protection Agency, has a new column up at Huffington Post:
Families are ready for change. According to polls, large majorities of Americans have welcomed the Obama Administration’s proposal for a new Consumer Financial Protection Agency (CFPA). The CFPA would be answerable to consumers — not to banks and not to Wall Street. The agency would have the power to end tricks-and-traps pricing and to start leveling the playing field so that consumers have the tools they need to compare prices and manage their money. The response of the big banks has been to swing into action against the Agency, fighting with all their lobbying might to keep business-as-usual. They are pulling out all the stops to kill the agency before it is born. And if those practices crush millions more families, who cares — so long as the profits stay high and the bonuses keep coming.
Not a very fact-based argument for the agency, just populist swill.
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