Consumer protection agencies failing America

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Consumer protection agencies failing America

The state of consumer protection in America is abysmal. Competing by cheating seems to be the rule of the land, with thousands of companies acting as if there are no laws and demonstrating no fear that misleading or harming consumers puts them at any risk for penalties.

To know why, simply look at the roster of players assembled to fight on our behalf. The agencies charged with making America fair and safe have been undercut and underfunded for decades. It's as if we're asking a minor-league baseball team to play the New York Yankees on our behalf, only this is no game. The consequences of weakened consumer protection can literally be life and death.

You may have heard the curious story this week of the Consumer Product Safety Commission, which is supposed to make sure thousands of everyday consumer products don't pose unnecessary dangers. Given the spate of recent high-profile recalls, Congress has just discovered there's too much work for the agency's paltry staff of 400, and is now considering a law to beef up its work force Curiously, the commission's chairwoman, Bush administration appointee Nancy Nord, opposes the increase. Could this be: A government bureaucrat rejecting more resources? Many observers were shocked.

They shouldn't be. Since the 1980s, all federal consumer protection agencies have been bled dry. And many of their politically appointed leaders have actually worked to hamstring their organizations to ensure they don’t interfere with companies trying to make a buck.

Consider this: In the 1970s, when the Consumer Product Safety Commission was created, it had a staff of 900. Today, it’s fewer than half that. At a time of unprecedented growth in world imports, and unprecedented product recalls, the commission's staff has never been smaller.

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Countryslide, a lender with blemishes that operates under a cloud of questionable practices and has a bank where its customers were wrapped around corners for blocks to withdraw their monies was able to “borrow” $51.1 billion from the Federal Home Loan Bank system -- a government-sponsored program.

Admonishing homeowners who were not savvy “enough” to understand they were swimming with the sharks is not the answer.

Explain to me, what is morally right about bailing out the questionable lender WITH A GOVERNMENT PROGRAM and is morally wrong when its about helping our fellow citizens John and Jane Q public?