Lindsey Graham: Consumer Protection Bureau 'Is Something Out Of The Stalinist Era'

[J.E.D]

Did you miss the part where Congress voted for and passed the law that created the agency? Is there a law suit out there challenging the agency's constituionality or are just throwing out the usual GOP talking points and accusations?

Congress can vote to repeal the Bill of Rights. Does that make it Constitutional?

I can call anything unconstitutional. Does that mean that whatever I call unconstitutional is unconstitutional?

 

[J.E.D]

Really, cons, what is so bad about consumers getting an independent voice fighting for them against predatory lending and other questionable practices? Would you all prefer that banks continue to trade junk mortgages and give people keys to houses they can't afford? Do you think it's good for the consumer to be taken advantage of by signing agreements they don't understand; paying 400% interest on loans that they could barely afford to pay back at 25% interest?

 

[Stephanie]

All they want to do is make the President look like he can't get anything done when, in fact, its their filibustering.

TISSUE?

my gawd...there isn't ONE damn GOVERNMENT AGENCY that us taxpayers will have to pay for that you on the LEFT DON'T LOVE.

 

[Stephanie]

Really, cons, what is so bad about consumers getting an independent voice fighting for them against predatory lending and other questionable practices? Would you all prefer that banks continue to trade junk mortgages and give people keys to houses they can't afford? Do you think it's good for the consumer to be taken advantage of by signing agreements they don't understand; paying 400% interest on loans that they could barely afford to pay back at 25% interest?

omg. maybe you're too stupid to know what your signing. but we don't need THE FEDERAL government ANY MORE INVOLED IN OUR LIVES, thank you. PLUS we ARE THE ONES THAT ARE GOING TO HAVE TO PAY FOR IT.

 

[bripat9643]

Did you miss the part where Congress voted for and passed the law that created the agency? Is there a law suit out there challenging the agency's constituionality or are just throwing out the usual GOP talking points and accusations?

Congress can vote to repeal the Bill of Rights. Does that make it Constitutional?

I can call anything unconstitutional. Does that mean that whatever I call unconstitutional is unconstitutional?

True, but you wouldn't provide any evidence. On the other hand, the post responded to included the reason it was unconstitutional.

Try using some facts and logic for a change.

 

[bripat9643]

Really, cons, what is so bad about consumers getting an independent voice fighting for them against predatory lending and other questionable practices? Would you all prefer that banks continue to trade junk mortgages and give people keys to houses they can't afford? Do you think it's good for the consumer to be taken advantage of by signing agreements they don't understand; paying 400% interest on loans that they could barely afford to pay back at 25% interest?

"Independent" of what, Congress? Rational people should find that extremely troubling. How do the people control an organization that is not subject to Congressional oversight?

 

[occupied]

Really, cons, what is so bad about consumers getting an independent voice fighting for them against predatory lending and other questionable practices? Would you all prefer that banks continue to trade junk mortgages and give people keys to houses they can't afford? Do you think it's good for the consumer to be taken advantage of by signing agreements they don't understand; paying 400% interest on loans that they could barely afford to pay back at 25% interest?

"Independent" of what, Congress? Rational people should find that extremely troubling. How do the people control an organization that is not subject to Congressional oversight?

How do you make sure an agency is toothless without direct purse string manipulation of congress? How do you make it dysfunctional without a stupid bi-partisan committee? Every complaint Republicans have about this bureau is pretty much that it may actually work as intended.

 

[Stephanie]

Really, cons, what is so bad about consumers getting an independent voice fighting for them against predatory lending and other questionable practices? Would you all prefer that banks continue to trade junk mortgages and give people keys to houses they can't afford? Do you think it's good for the consumer to be taken advantage of by signing agreements they don't understand; paying 400% interest on loans that they could barely afford to pay back at 25% interest?

"Independent" of what, Congress? Rational people should find that extremely troubling. How do the people control an organization that is not subject to Congressional oversight?

How do you make sure an agency is toothless without direct purse string manipulation of congress? How do you make it dysfunctional without a stupid bi-partisan committee? Every complaint Republicans have about this bureau is pretty much that it may actually work as intended.

Too bad. you people out there can't read what you're signing....get a friggen lawyer. pay for it yourself... you all will just have to cry us a river.

 

[occupied]

"Independent" of what, Congress? Rational people should find that extremely troubling. How do the people control an organization that is not subject to Congressional oversight?

How do you make sure an agency is toothless without direct purse string manipulation of congress? How do you make it dysfunctional without a stupid bi-partisan committee? Every complaint Republicans have about this bureau is pretty much that it may actually work as intended.

Too bad. you people out there can't read what you're signing....get a friggen lawyer. pay for it yourself... you all will just have to cry us a river.

Or, you people could quit being cold blooded social Darwinists and demand that the banks start doing business in good faith or else.

 

[bripat9643]

Really, cons, what is so bad about consumers getting an independent voice fighting for them against predatory lending and other questionable practices? Would you all prefer that banks continue to trade junk mortgages and give people keys to houses they can't afford? Do you think it's good for the consumer to be taken advantage of by signing agreements they don't understand; paying 400% interest on loans that they could barely afford to pay back at 25% interest?

"Independent" of what, Congress? Rational people should find that extremely troubling. How do the people control an organization that is not subject to Congressional oversight?

How do you make sure an agency is toothless without direct purse string manipulation of congress? How do you make it dysfunctional without a stupid bi-partisan committee? Every complaint Republicans have about this bureau is pretty much that it may actually work as intended.

Are you saying every other regulatory agency of the federal government is toothless and dysfunctional?

I'll agree that democracy is dysfunctional. However, fascism isn't especially an attractive alternative.

 

[occupied]

"Independent" of what, Congress? Rational people should find that extremely troubling. How do the people control an organization that is not subject to Congressional oversight?

How do you make sure an agency is toothless without direct purse string manipulation of congress? How do you make it dysfunctional without a stupid bi-partisan committee? Every complaint Republicans have about this bureau is pretty much that it may actually work as intended.

Are you saying every other regulatory agency of the federal government is toothless and dysfunctional?

I'll agree that democracy is dysfunctional. However, fascism isn't especially an attractive alternative.

Regulation is not fascism and our financial regulatory bodies are fractured and structured to be easily sidestepped and wrist slappers when penalties are imposed, especially where consumer credit is concerned.

 

[kiwiman127]

I guess some people learned nothing from The Great Recession.
How many filings have there been against the financial sector for fraud and predatory lending? How many civil suits has the financial sector lost already? How many 100's of Billions of dollars did companies/people lose for their retirement/plans that they'll never see again?
Some folks bust their ass protecting those who were the primary players in The Great Recession and also bust their ass to make sure the main victims of The Great Recession remain unprotected by deceptive practices.
Their answer? Get a lawyer. I thought those folks hated lawyers!

 

[bripat9643]

Regulation is not fascism and our financial regulatory bodies are fractured and structured to be easily sidestepped and wrist slappers when penalties are imposed, especially where consumer credit is concerned.

Fascism is government control of private industry. That pretty much describes "regulation" as well, especially when there is no Congressional oversight. What you are defending is an agency that is free to run roughshod over private companies any way it wants to. How is that not fascist?

 

[Chris]

The Republicans are terrified that Americans will wake up to what corporate America does every day.

 

[Chris]

Regulation is not fascism and our financial regulatory bodies are fractured and structured to be easily sidestepped and wrist slappers when penalties are imposed, especially where consumer credit is concerned.

Fascism is government control of private industry. That pretty much describes "regulation" as well, especially when there is no Congressional oversight. What you are defending is an agency that is free to run roughshod over private companies any way it wants to. How is that not fascist?

The government is elected by the people.

Corporate boards are not.

 

[The Rabbi]

It' unaccountable and its budget is not voted on by Congress.
Or did you miss that part?

Where does the money come from?

The Fed. Automatic allocation.
Red Flags Raised Over Consumer Protection Bureau's Funding Method

 

[The Rabbi]

I guess some people learned nothing from The Great Recession.
How many filings have there been against the financial sector for fraud and predatory lending? How many civil suits has the financial sector lost already? How many 100's of Billions of dollars did companies/people lose for their retirement/plans that they'll never see again?
Some folks bust their ass protecting those who were the primary players in The Great Recession and also bust their ass to make sure the main victims of The Great Recession remain unprotected by deceptive practices.
Their answer? Get a lawyer. I thought those folks hated lawyers!

Prior to the melt down the financial services sector was among the most heavily regulated. All those regulations did exactly nothing to prevent a meltdown.
Every measure designed to "protect" people generally does the opposite.