Once you have made your support of the CFPA known to the Senate Banking Committee, keep the momentum going! Other things you can do:
CONTACT YOUR REPRESENTATIVE: Click here to send an email to your local representative telling them that you support the formation of the CFPA.
SIGN A PETITION: Americans for Financial Reform has started a petition to tell Senator Dodd to "Dance" with Main Street, not Wall Street. Click here to sign the petition.
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2 Comments, Comment or Ping
Jennifer Rosenberg
I am an avowed democrat with socialist leanings. But I do NOT support a consumer protection agency…. I don’t think creating another arm of gov’t is going to solve the problem. I think we need to make sure that those who are presently charged with the job are doing their job. Because they clearly aren't.
Look at http://www.ftc.gov -- the FTC is supposed to "protect the consumer" and they do have control over credit cards and loans. Question is why didn't they do something before our country is overwrought with unmanageable debt?
And the SEC and Fed are responsible for the banks, but they've done nothing - except reinstitute the uptick rule and prosecute Madoff after his family turned him in.
So rather than add to mess – I say ‘consolidate’ the disparate and conflicting oversight into one organization that has 2 equally weighted sides. One side focusing on the consumer and the other on the banks. Then clean house. Get rid of all hi-level government employees who used to work for the banks. Make a "no conflict of interest" law for elected or presidential appointed public servants disqualifying those who have worked for banks or government contractors prior to being appointed.
And let Department of Homeland Security be a lesson to us. DHS has failed miserably -- case in point Katrina - the Fort Hood shooting.... need I go on.
If the dems want to spend money we should be assured that it will be put to good use. So far the stimulus and TARP appears to have been 'not' in the taxpayers best interest. Spending more when we have none isn't responsible.
Ken
IMPORTANT! We need to ensure that the members of the consumer protection agency are elected NOT assigned by the party in power. It needs to be INDEPENDENT.
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