Do Republicans really hate consumers? Apparently, if the reception Elizabeth Warren had at yesterday's House Financial Services Committee oversight hearing on the Consumer Financial Protection Bureau is any guide.
House GOP members lambasted the agency for insufficient congressional oversight and for operating with one person in charge rather than establishing a board to oversee the agency.?You have a lot of discretion and a lot of power, but I see very little accountability,? Rep. Spencer Bachus, R-Ala., Chairman of the House Financial Services Committee, said.
?I look at this congress?we are the voice of the American people, and when we don't have any oversight of what you're doing, I see that as incredibly problematic,? Rep. Sean Duffy, R-Wis., said.
But Warren countered the attack, arguing that the accusations are not true.
?The consumer agency is not the strongest agency in government. It is the most constrained and the most accountable agency in government,? Warren said.
The reality is that Republicans care a whole helluva lot more about Wall Street getting to do whatever it wants than they do about Main Street. If it means another global financial disaster created by the greed and the fraud of Wall Street, well so be it, to borrow Speaker John Boehner's famous phrase. No one they know, apparently, is unemployed or has been foreclosed on. Oversight is a dirty word, and regulation even worse, and the disastrous consequences of not having it are just the price of doing business. Particularly since their friends and financers aren't the ones paying that price.
Source: http://feeds.dailykos.com/~r/dailykos/index/~3/ZUe_CRpFMAA/-House-GOP-slam-CFPB,-Elizabeth Warren
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