Elizabeth Warren's record as a staunch consumer advocate made her "toxic" to the elected minions of big banks which is likely why President Obama decided not to spend political capital making her head of the Consumer Financial Protection Agency, which she pretty much created. Now, those same minions are vowing to block the nomination of former Ohio Attorney General, Richard Cordray. Actually, they don't care who heads the CFPA because their aim is to destroy it. They know that it threatens the seamy scams of the banking, mortgage, credit card, and other financial racketeers who walked away scot free after scuttling the U.S. economy, burying the middle class in deep doodoo, and awarding themselves multi-million dollar bonuses.
Richard Hirschmann, VP of the U.S. Chamber of Commerce ("Fighting for Your Business"), detailed to explain why his private club is lobbying fiercely against the CFPA, babbled that consumers will lose the luxury of the "choices" they now enjoy, and mumbled the discredited mantra against more government regulation.
Hirschmann's private jet-jaunting patrons are spooked by the idea of CFPA doing for people needing loans, mortgages, and credit cards, what OSHA does for working stiffs, FAA for air travelers, the FDA for food and drugs. Up to now, bankers have been free to pull their scams with no adult supervision. One can understand their horror at the notion that CFPA means the end of illegal foreclosure documents signed by robots, and the beginning of contracts written in English instead of impenetrable gobbledegook.
Richard Hirschmann, VP of the U.S. Chamber of Commerce ("Fighting for Your Business"), detailed to explain why his private club is lobbying fiercely against the CFPA, babbled that consumers will lose the luxury of the "choices" they now enjoy, and mumbled the discredited mantra against more government regulation.
Hirschmann's private jet-jaunting patrons are spooked by the idea of CFPA doing for people needing loans, mortgages, and credit cards, what OSHA does for working stiffs, FAA for air travelers, the FDA for food and drugs. Up to now, bankers have been free to pull their scams with no adult supervision. One can understand their horror at the notion that CFPA means the end of illegal foreclosure documents signed by robots, and the beginning of contracts written in English instead of impenetrable gobbledegook.
RSS Feed