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Posts Tagged ‘Lauren Saunders National Consumer Law Center’

Consumer Financial Protection or Wall Street Beats Main Street?

Posted by Larry Doyle on March 3rd, 2010 9:49 AM |

News that a newly proposed Consumer Financial Protection Agency will be housed within the Federal Reserve is another shot across the bow in terms of Wall Street owning Washington and beating Main Street.

Am I surprised by these results? Not at all. The power of the Wall Street lobby is enormous and ultimately the crowd in Washington needs the money from Wall Street in order to pretend they represent the interests of Main Street. All the press conferences and politicking on the topic of consumer financial protection truly amount to nothing more than pure bluster. The bottom line of Wall Street banks feeds the bottom line of many politicians in Washington on both sides of the aisle. (more…)






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