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Showing posts with label consumer financial protection bureau. Show all posts
Showing posts with label consumer financial protection bureau. Show all posts

Tuesday, December 13, 2011

GOP Lunacy on The CFPB

Dec 12th, 2011

The banks got us where we are today. Lack of oversight coupled with massive deregulation allowed them to do it. It wasn't Fannie and Freddie's fault. Period.


So, what's with the big holdup appointing someone to head the Consumer Finanacial Protection Bureau?

Following the Senate filibuster of CFPB nominee Richard Cordray last week, Sen. Lindsey Graham (R-SC) ventured into the land of whack-doodled, crack-potted, nit-witted super-delusion while discussing the topic on Meet The Press.

Ryan Grim writes:

"Graham spoke as if the bureau had yet to be created and debate was over how to shape it, rather than discussing the nominee, Richard Cordray, the former attorney general in Ohio.

"This consumer bureau that they want to propose is under the Federal Reserve, no appropriation oversight, no board. It is something out of the Stalinist era," Graham said."
EMPHASIS OURS

Got that? Nevermind that the structure of the bureau was debated at length, voted on and passed overwhelmingly and arguably has more checks and balances than any other regulatory body in U.S. History.

It's suddenly Stalinist.