Frank pushing quick movement on credit card bill

[babsbunny]

http://portal.wowway.net/news/read.php?ps=1018&rip_id=%3CD9B74BF00%40news.ap.org%3E&_LT=HOME_LARSDCCLM_UNEWS

By ANNE FLAHERTY Associated Press Writer The Associated Press
Thursday, October 8, 2009 4:04 PM EDT

WASHINGTON (AP) — Rep. Barney Frank, the tough-talking liberal ushering through a major rewrite of rules governing Wall Street, sounded a warning shot on Thursday to big banks: Start playing nice or Congress will make your life even more difficult.

Last spring, Frank helped push a bill through Congress that imposes strict new rules on lenders, including a limitation on when and how banks hike rates. Most of the rules will take effect in mid-February, a date set by Congress to give banks time to prepare for the changes.

But the Massachusetts Democrat, who chairs the House Financial Services Committee, said at a hearing on Thursday that lenders have abused the grace period by using the time to hike rates ahead of the new rules. He has introduced legislation that would move up the enactment date to Dec. 1.

[monmouth]

1. I hate that these guys give out their little warnings. They've been

sufficiently warned and "playing nice" is not something they are familiar with. I hate to sound like an old hag here, but old LBJ and even Harry Truman would have warned once... Consequences to follow.

[msongs]

3. LBJ wasnt there to be loved instead of effective in moving his agenda lololol nt

[monmouth]

5. And he knew how to get it done....n/t

[alstephenson]

2. Thanks, Senator Frank.

We need to enact this legislation as soon as possible.

[ccharles000]

4. he is in the house not the senate

[alstephenson]

10. Duh! Thanks - I know he's in the House, I just had a brain fart.

[cutlassmama]

6. We are lucky to have Frank in Congress looking out for us n/t

[Zenlitened]

7. Let's get that barn door closed ASAP.

By the way, where'd all the horses go? :shrug:

:grr:

[Deja Q]

9. I think the horses went

into the "economy grade beef" section at the grocer's...

:(

:yoiks:

[DJ13]

8. Wake me when our party realizes its the interest rates that cause the problems

Anything else is just theater.