They want 100% or nothing
April 29, 2010 | federal legislation, industry | Comments (0)Jane Bryant Quinn’s latest screed:
The Administration wants an independent Consumer Financial Protection Agency with its own budget and authority to act. The Republicans want a six-person council with no independence and little authority. Three of the council’s seats would be held by the government — the chairs of the Federal Reserve and the Federal Deposit Insurance Corporation, plus the Comptroller of the Currency. Historically, none of these regulators has flexed its muscles on behalf of consumer care.
All or nothing. The faith that some people have in government bureacracies is astonishing.
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