Now this is really well said
April 21, 2010 | alternatives, federal legislation, industry | Comments (0)From today’s Wall Street Journal editorial regarding the Consumer Financial Protection Bureau:
The bureau would have broad power to set the terms of financial products and services, labeling as abusive whatever officials (or outside allies like Acorn) dislike, and paving the way for large new litigation costs. This bureau would barely touch Wall Street, which doesn’t oppose it in any case, but it would slam small banks, car dealers and others that extend credit. The entire point of the bureau is to put politicians in charge of allocating credit.
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