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Come on...
Put the bill up for a vote and challenge anyone who wants to vote against it to enjoy the ad their opponent of either party will run against them in the next election.
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@JGKojak: I'd like to agree, but I don't think the agency was very popular amongst Republicans.
And the Dems are too busy bickering about what shades of purple or blue they are to come together as a dominant majority for much of anything.
*sigh*
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Better still would be an increase in public education funding so that high school graduates are aware of all the ways businesses take advantage of consumers. There was no economics class required for graduation where I was, and there should be. It's more important than trig if you ask me.
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@Persistence: Consumer education is required for graduation in Illinois, has been for more than 20 years, doesn't seem to do any good.
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@Persistence: The unfortunate thing about sending more money to the schools, is they'll waste it. The US has one of the highest per capita spending on education, yet comes in behind several other countries in results.
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@Persistence: The economics course I had in HS was a JOKE. A very sad one, too. I agree, though, that a proper education on businesses, economics and consumerism is a great idea.
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{Edward Yingling] wants traditional bank regulatory agencies to keep their authority to regulate consumer finance.
fine. let's take 6 months to study the rules in all the states & then we'll take the toughest rules from each of them, just so the ABA gets to keep their \"one rulebook\".
careful what you wish for, ed. you just might get it.
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Careful what you wish
Careful what you say
Careful what you wish
You may regret it
Careful what you wish
You just might get it
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But... but... banks have just done so well regulating themselves.
[cue laugh track]
@MooseOfReason: So you're saying the banks have done a good job of regulating themselves? Is that what you're trying to say?
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I, for one, am sick and frikkin tired of industry lobbyists saying the god damned sky is green and the water tastes great. Fuck those chumps. Contact them and let them know how the people really think of what they are doing.
ABA Public Relations Contacts
American Bankers Association
1120 Connecticut Avenue, N.W.
Washington, DC 20036
1-800-BANKERS
Fax's: (202) 663-7578
[Please refrain from black faxing, it would be oh so wrong to do so.]
To ask questions of their lobbyists:
Jim Eberle
(202) 663-5477
jeberle@aba.com
Issues: mortgage lending, housing and real estate
Peter Garuccio
(202) 663-5452
pgarucci@aba.com
Issues: bank legislation, bankruptcy reform, bank regulation, credit cards, economic conditions, and government relations
John Hall
(202) 663-5473
jhall@aba.com
Issues: community banking, community development, and credit unions.
Carol Kaplan
(202) 663-5471
ckaplan@aba.com
Issues: bank employment, bank marketing, bank products and services, branches, consumer delinquencies, minority lending, retail and consumer banking trends, small business banking, securities, trusts and wealth management.
Margot Mohsberg
(202) 663-5470
mmohsber@aba.com
Issues: agricultural banking, ATMs, technology, back-office operations, bank security (including robberies), fraud and information security
Marquita Powell
ABA Education Foundation
(202) 663-5418
mpowell@aba.com
Issues: financial literacy, consumer education, Teach Children to Save Day and Get Smart About Credit program
Jon Snowling
(202) 663-5468
jsnowlin@aba.com
Issues: bank sale of insurance, corporate governance, international trade and banking, money laundering, tax and accounting and USA Patriot Act
@Chumas: that's some good information right there. & i would also recommend that we all SPAM THE CRAP out of our senators - especially if they're on the senate banking committee.
or the chair (i'm looking at you, chris. you want my vote? start making some changes that bring NBs in line with our tough-as-nails state banking laws. or expect my vote to go to the other guy.)
I for one don't want Barney fing Frank anywhere near anything to do with finance. If there was every a more idiotic irresponsible ass I haven't seen him.
I still remember his comments and attempts to keep anybody at all from doing anything to reign in Fanny Mae and Freddy Mac, two really big players in the mortage mess who should have had oversight as gov't sponsored corps....
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There's been so much resistance to the proposed Consumer Financial Protection Agency that Sen. Barney Frank...
I think \"Congressman\" or \"Rep.\" would be a better title, seeing as how he's not a Senator...
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@magus_melchior: Yes, but he is a politician, which by it's very nature means he's just as crooked, senator or not.
@AngryK9: Yeah, well, since Senators usually have a bit more clout than their House brethren, we shouldn't give Frank more than he deserves.
Put another way, not all politicians are equal, since the scope of the effects of their incompetence and/or malice is naturally different.
What BS, this organization would not have prevented the bank collapses. This will only grow the size and reach of the government at an enormous cost to tax payers. Adding one more regulatory body to a group that has failed miserably decade after decade will do absolutely nothing helpful to consumers, tax payers, or businesses.
\"No more requirement that banks offer \"plain vanilla\" loans for easy comparison shopping.\"
In other words, the can continue to use underhanded fine-print tactics that they know nobody will catch since most don't read the fine print, or don't understand if they do read it, since it's always written in indecipherable legalese.
\"There would be a governing panel where banks could appeal rulings they don't agree with.\"
In other words, a panel staffed by people on bank payrolls.
\"Non-financial companies like retailers, doctors, and auto dealers would be exempt from oversight.\"
So they can continue placing unjustified price hikes on poor-quality goods and using underhanded fine-print tactics like banks do.
\"The agency will have to be funded without imposing any new fees on banks.\"
Which means it will be funded by imposing those fees on the consumer.
Yessirree. Way to go Mr. Politician sir! I am glad to see that you are consistent in caving in to lobbyists and special interests!
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All this $h1T would not be needed if people learned to live a life that would empower them instead, but noooooo... some fat ass chicks (just an example) will have as many kids as possible, no dad on sight, living paycheck to paycheck, and then they get in this vicious cycle, applying for loans over and over. Sometimes I feel these morons shouldn't be protected, heck... they make me feel like opening my own financial extortion office.
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I don't get it. Democrats have a majority so where is this opposition they are referring to? Surely the Democrats can twist the arms of friendly RINOs to get whatever super-majority they need.
Plus, according to Barney Frank, we already have \"the FDIC, comptroller of the currency and Federal Reserve\" to regulate the financial industry. Why do we need YET ANOTHER government bureaucracy? Why can't Obama just appoint a Financial Protection Czar and avoid Congress altogether?
Yeah, that's what we need, Faggy Frank--more government!
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This is quintessential politics, and sadly, the way the American political system was designed. Start with a bill, water it down to make everybody (or more likely, nobody) happy, and pass it, citing a victory. Health care will go this way too, sadly - no matter which side you are on, I have the feeling no one will be happy, except for the people that don't care. Sigh.
www.corporatepoop.com
@corporatepoop:
If people need the government's protection from monopolistic and anti-trust activities they shouldn't be living in America.
@corporatepoop: \"We're from the government and we're here to help you\".
Sorry, I just don't believe anything that size and power will do anything but screw up and make everything more expensive.
So I vote NO on the CFPA!