Showing posts with label CPFB. Show all posts
Showing posts with label CPFB. Show all posts

Wednesday, May 25, 2011

Picking On Liz

I suppose it was inevitable that Elizabeth Warren, the defacto head of the new consumer protection agency in the government, would get attacked by Republicans. What I'm trying to figure out is why. Since I know many of you hate her immediately and the very idea of the CPFB, I am curious as to what I know will be your firm and unyielding convictions.

Now, I am already aware that some of you feel that she is going to come to your homes, take away your guns, and forcibly take the fruits of your labors to fund brown shirt factories and reeducation camps. No need to go over that point. What is perplexing me is this: after all that has come out about the massive amount of fraud that led directly to the 2008 financial crisis, why would you not want the government to regulate these guys? More importantly, why on earth would you vote for a republican (nose holding or not) like Patrick McHenry who seeks to continue this fraud? It makes no sense to me whatsoever.

The whole point of the CPFB is to streamline the regulatory process. It's the first step in undoing the Wall Street government that we currently have. It has to happen because we can't keep going through this cycle every few years. This is the global economy we are talking about not a fucking casino.