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Mark your calendars for July 21. That's when the nation's first ever federal agency dedicated solely to consumer protection - the Consumer Financial Protection Bureau - begins its work. Yes, the Republicans in the Senate have refused to consider any nominee to lead the Bureau unless its powers are significantly weakened (and concentrated their attacks on Elizabeth Warren, to the point of being complete jackasses and insulting her at a Congressional hearing), it won't stop the Bureau from beginning its work:
New Cop on Wall Street: Consumer Protection Bureau Ready to Roar
Seeded on Wed Jun 22, 2011 6:46 AM EDT
Article Source: The Peoples View
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On July 21, the bureau will formally open its doors and will be able to send its examiners into Goldman Sachs, JPMorgan Chase and other financial titans — whether or not it has a director. It can also issue new rules for big banks, examine their books and file enforcement actions, all crucial steps for an agency that was born only a year ago.
“They have almost unlimited ability to go after the banks on consumer issues,” said Jaret Seiberg, a policy analyst at MF Global. “They’re saying, ‘We’re the new sheriff in town.’ ”
- 4 votes
#1 - Wed Jun 22, 2011 6:47 AM EDT“They have almost unlimited ability to go after the banks on consumer issues,” said Jaret Seiberg, a policy analyst at MF Global. “They’re saying, ‘We’re the new sheriff in town.’ ”
good.............. now go kick some ass...
- 3 votes
Don't mess with Liz....
Republicans in the Senate have refused to consider any nominee to lead the Bureau unless its powers are significantly weakened
The only reason anyone would want to weaken the powers of the Bureau would be becasue they have something to hide. Here's one for the GOP...the majority of the American people support the new Consumer Financial Protection Bureau.. I have no link to back that statement up but it must be true because I said it...
- 2 votes
#2 - Wed Jun 22, 2011 7:10 AM EDTExcellent seed, PIK.
I wonder of this new bureau will allow for labeling of GMO's, HFC, fruit "waxes" and other poisons in our food.
Sounds like it's only going to deal with financial and non-perishable products.
- 2 votes
#3 - Wed Jun 22, 2011 9:41 AM EDTSeems the gop has no defense from those they truly fear... all their ammo is framed in insults and demonization... Hmmm. Going to have to take a second look at those they wish to demonize. The mark of a true prosecutor with no real case. Little wonder they have to stack the courts with willing participants backing up their dictatorial tactics.
Makes me understand what Bush meant when he said "We have put a system in place that insures that the republicans will never again be out of power." They were never totally powerless, just couldn't handle the power they actually had.
- 1 vote
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