Republicans Work to Weaken new Consumer Protection Bureau

[maxx]

https://secure.consumersunion.org/si...Action&id=2503

They are trying to institutionalize their favorite game of foot-dragging into the new bureau.

[Big Dog]

Wow, that sure is a surprise.

[oladub]

The Federal Reserve is, of course, not a government agency. It is owned by by mega banks which are, in turn, owned by their stockholders.

How about having these mega banks regulate themselves? The Consumer Protection Bureau will not be a part of the government subject to the direct control of Congress. Instead it will be a bureau of the privately owned Federal Reserve which will 'regulate' it's owner banks. What's this supposed to accomplish?

[coracle]

It's Obama's Economy stupid!