Obama: I will not allow Financial Re-Regulation bill including GOP amendt to weaken consumer

[JohnWxy]

...protection.


http://thehill.com/homenews/administration/96467-obama-urges-senate-to-vote-down-gop-amendment-on-reg-reform-hints-at-veto">Obama urges Senate to vote down GOP amendment on reg reform, hints at veto - The Hill

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Obama said the Shelby-McConnell amendment "will gut consumer protections and is worse than the status quo."

"I will not allow amendments like this one written by Wall Street’s lobbyists to pass for reform," Obama said in a statement. "This amendment will significantly weaken consumer protection oversight, includes dangerous carve-outs for payday lenders, debt collectors and other financial-services operations and hurts the ability of community and local banks to compete by creating an unlevel playing field with their non-bank competitors."

During floor remarks, McConnell argued the Consumer Protection Bureau that Democrats favor at the Fed would ensnare a range of businesses in federal bureaucracy.

(more)


NOTe that had the Bush administration not stopped 50 states attorneys General from reining in predatory lenders in 2004, using consumer protection laws ... the Deregulation Disaster and the ensuing REPUBLICAN DYSTOPIA we are now struggling with, might very well have been averted. (http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=114x58162">Predatory Lenders Partner in Crime)

[Joe Chi Minh]

1. Imagine having to deal with the surreal world these Republicans are always determined to keep

building, without the least concern for the past or the future. How does Obama stay sane?

[JohnWxy]

3. I don't know how the people who have to deal with the Corporate Lobbyist Partiers in Congress do it!

..without completely losing it!

[Joe Chi Minh]

4. To me, it would be like being a pathologist or a worker in a funeral parlour,

and you just feel grateful that there are people who have all these different, sometimes really weird kinds of strength; yet to all intents and purposes, they remain as normal as can be.

It is a kind of gift. I read, I think on the Veterans' folder here, a post by a young veteran, whose father was a mortician, and sometimes used to bring a body home to work on, in a room presumably dedicated to the purpose. Yet his flashbacks of friends blown to smithereens in Iraq by improvised bombs, destroyed that weird protective casing he'd grown up with.

[Uncle Joe]

2. Kicked and recommended.

Thanks for the thread, JohnWxy.:thumbsup: