Professor Elizabeth Warren speaks about the Consumer Financial Protection Agency

Professor Elizabeth Warren explains why America needs a Consumer Financial Protection Agency. July 16, 2009. Cambridge, Massachusetts, U.S.A.

Category:

News & Politics

Tags:

• bank regulation
• Elizabeth Warren
• Harvard University
• Wall Street
• U.S. PIRG
• public interest
• credit scam
• mortgage crisis
• bailout
• bank bailout
• predatory lending
• scam

[borgbike]

Go Elizabeth! This is the good fight but in today's corporate-dominated world it will be a tough one.

[bryzicka]

Elizabeth Warren is an inspiration. If only there were more people like her in our government...

[jseals811]

If we are so worried about the consumer why have we bailed out these big banks and not the consumer? The government can't stop people from going into debt. Another agency gives false sense of security. Maybe people would be smarter with their money if they realized it's their job to be responsible about their finances and not the government's.

[Seasass]

@bstuts7914 Obviously it wasn't well suited, or we wouldn't have had a financial crisis triggered by thousands of crappy mortgages (many of them second mortgages taken out to help people cope with crappy credit card debt). Consumer financial protection was always dispersed throughout a number of different agencies and, hence, not very effective. Now, thanks to this woman's tireless efforts, there is an organization whose SOLE purpose is to look out for consumers.

[marilynr46]

@Chridder515 Name one regulation (specifically) that has stifled innovation.

[bstuts7914]

I like Warren, but why do we need a new agency for this?  The FTC has a division well-suited for the job:

[Ethiopiabuzz]

Say hello to the First woman to be American president !

[Chridder515]

“A market where consumers can’t make comparisons is a market that stifles innovation.” Hell, even Ayn Rand would roll over in her grave and cry out for market regulation if she heard that one!

[Chridder515]

“A market where consumers can’t make comparisons is a market that stifles innovation.” Hell, even Ayn Rand would roll over in her grave and cry out for market regulation if she heard that one!