Fed's Consumer Protection Agency: A Bad Financial Reform Plan

[orangedac]

the only thing crazier than a private banking cartel like the federal reserve ripping off people with valueless paper money & money printing is having them control a consumer protection agency.

It gives the false impression that their purpose is to protect the people of society. Their real purpose is to rob the people of society while pulling wool over everyone's eyes.

[SupermansDead93]

the heritage foundation is a fucking sack of shit.

and FUCK Chris Dodd, he couldnt let one fucking reform bill pass without fucking it up. I swear every bill that man sticks his hands into magically gets diluted....

[schmuely8]

So the argument is that this would create a huge bureaucracy crippled by infighting that is nevertheless able to micromanage so much that it stifles innovation. That's impressive activity for a crippled bureaucracy.

Wasn't it innovative and unregulated derivatives that caused the meltdown in the first place? Maybe the market could use a little less innovation.

So his solution is to coordinate the existing regulators that were unable to stop the meltdown in the first place.

Very wise Mr. John.

[GOPtrollmaster]

Us Republicans have to make sure there is no financial reform, especially on Obama's watch so we can gloat and point our finger at him if the economy falls apart again.

A good economy is bad for us Republicans. If the economy continues to suck we can use this to our advantage and appear to care about fixing this problem. If we can make Obama look worse than the Republican party, this might be enough for us to regain power.

[treid100182]

Getting FACTS from the Heritage Foundation...

... is like taking dietary advice from Ronald McDonald.

[isawanangel2]

@treid100182 i was reading about this on sourcewatch today, pretty ugly

[treid100182]

ughhhh

[mcap52]

It's sad that people cannot regulate themselves.I guess the dollar is pretty powerful.

[MrMindfucker]

Yeap! You figure that if they had a fed agency to make those special intrest's like bbb,and other's do what they advertise to do the world world be a better place. I had many dealings with people like that and they all are more for the corrupt business than they are for the consumer.

[MrMindfucker]

Why? because they are paid by the business. When the consumer is up against a brick wall of beauracy they tend to back down. What seal's the deal is when state's/cities/ebay seller's that have online auctions lie to you and are totally protected by the unfair contract and state attourney general's office brick wall.

[capitalist4life]

0:52 Why not eliminate the existing financial regulators?

[bigboss686]

how about instead of CREATING yet another government bureaucracy, no matter how small, we actually dissipate one make the media do its job.

Frankly consumer reporting by local media outlets, and national media outlets that expose these bad practices, which can then be handled in the court is the best option.

Of course, that would require the media actually DOING IT'S JOB as opposed to slandering conservatives all day.

Ron Paul 2012