2011-02-16nationalmortgagenews.com

Elizabeth Warren, the Obama administration official in charge of setting up the Consumer Financial Protection Bureau, attacked Republican efforts to cut the agency's funding, while also previewing efforts to reform credit card disclosures.

...

"Many of those who have opposed the CFPB are still trying to chip away at its independence by subjecting it entirely to Congressional appropriations without any dedicated funding from the Federal Reserve," Warren said. "Politicizing the funding of bank supervision would be a dangerous precedent, and it would deprive the CFPB of the predictable funding it will need to examine large and powerful banks consistently and to provide a level playing field with their nonbank competitors."

We don't entirely buy this. Why should anything be subject to the oversight of appropriation -- the Fed included? In fact, arguably the Fed's dodge of appropriations is unconstitutional.



Comments:

catherine at 15:13 2011-02-16 said:
THE CURRENT administration has hired 200,000 new gubment employees in 24 months.................ALL LIKE HER, WANTING TO BUILD HUGE BIG DEPARTMENTS.............to rule over us..............with our money :lol: :cry: :lol: :cry: :lol: :cry:

frogs in boiling water...............or people in the street

i hope and pray it is people in the street..........before they shut down the internet that is :roll: Permalink

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