Top of the Morning

Top of the morning

sun145

One important part of the battle to toughen the regulations on the financial industry that created so much of the current economic crisis is over President Obama’s proposal for a consumer protection finance agency to stand up to Wall Street on behalf of folks who aren’t counting their bonuses these days.

Harvard Law Professor Elizabeth Warren is leading the fight for the new agency that the Huffington Post outlined earlier this week.  Warren explains clearly what is at stake in the Senate fight.

 …(it) will show whether we are going to let the industry continue to write the rules — to keep the cops off the beat — or whether the financial crisis actually changed something.

It will also show us if the financial industry still runs Congress—and don’t bet against it.

3 Comments


  1. IBXer

    January 22, 2010 at 9:21 am

    So the best way to make sure an industry that is vital to the US economy is successful is to make sure no one wants to work in that industry… sounds like a great plan to me.

  2. gregflynn

    January 22, 2010 at 10:41 am

    An industry that lends $20,000 to anyone with a pulse and charges 30% interest is so “vital” to our bubble economy.

  3. IBXer

    January 25, 2010 at 11:15 am

    Greg, it was the government that was forcing them to lend the money “to anyone with a pulse” that forced the industry to have such high interest rates in order to cope with the inevitable losses.

Check Also

Anthony Scaramucci thought HB2 was “shameful”

Anthony Scaramucci, President Trump’s new communications director, was ...

Top Stories from NCPW

  • News
  • Commentary

Two groups seeking state contracts to run struggling North Carolina schools have professional ties t [...]

North Carolinians will lose their “precious right to vote,” as U.S. Supreme Court Justice Ruth Bader [...]

Saturday nights at the 311 Motor Speedway in rural Pine Hall smell of fast food and fuel. Wooden ble [...]

Cornelius Redfearn, principal at Durham’s Glenn Elementary, said Tuesday night that the looming unce [...]

The post NCAA Legitimacy Deflated appeared first on NC Policy Watch. [...]

There are lots of reasons for people to get off of the sidelines and commit themselves to new and su [...]

4---number of days since The Trump administration announced its decision to halt cost-sharing subsid [...]

Hypocrisy in politics is hardly a new phenomenon but rarely is it as boldly on display as it was las [...]

Featured | Special Projects

NC Budget 2017
The maze of the NC Budget is complex. Follow the stories to follow the money.
Read more


NC Redistricting 2017
New map, new districts, new lawmakers. Here’s what you need to know about gerrymandering in NC.
Read more