Elizabeth Warren: Bring It On! [View all]

[eridani]

http://readersupportednews.org/opinion2/277-75/33469-focus-bring-it-on

When is the last time someone mentioned to you that they really wished banks could load more fine print on credit cards? When did someone say they hoped Wall Street would get another chance to blow up the mortgage market? When did you hear that customers were hoping for another chance to get cheated by a payday lender?

Never?

So why is a right-wing group is spending $500,000 to attack me and the Consumer Financial Protection Bureau? And why right now?

Think about this: Before the end of the year, Congress must pass two pieces of legislation, a highway bill and a government funding bill. That's like ringing the dinner bell for the Wall Street banks. The lobbyists are swarming this place.

Two bills are moving in Washington, and the big banks see a chance to weaken the CFPB and the Dodd-Frank oversight rules. Their plan is to quietly slip the rollbacks into the legislation that must pass, like the government funding bill. That way Wall Street gets what it wants, and their friends in Congress get lots of cover when they vote for it.

That's what those crazy, Commie dictator attack ads are all about. Wall Street knows that if they can soften up support for the Consumer Financial Protection Bureau, the Republicans - and honestly, some Democrats - will feel a little safer voting to weaken the rules that protect consumers and hold big banks accountable. Since closed-door discussions are going on right now, this is the time.
http://readersupportednews.org/opinion2/277-75/33469-focus-bring-it-on