TARP Watchdog: US Needs New Agency To Protect Consumers From Banks' "Tricks And Traps"

Reuters:

WASHINGTON - The outspoken head of a U.S. Congressional watchdog panel will strongly urge lawmakers on Wednesday to set up a new government agency to protect consumers from "tricks and traps" set by banks.

Read the whole story: Reuters

Comments

[sosi]

Start a campaign to make Warren the czar of consumer protection first and President in 2012...

[LeeCalif]

Businesses are against it, so it's definitely the right move !!

[dzent1]

Man, I like this woman. I was beginning to think all the good ones were gone. Go get 'em.

[AngieMom57]

If you like her then you will love:

AGENDA FOR A NEW ECONOMY:
FROM PHANTOM WEALTH TO REAL WEALTH
by David C. Korten

[olmossy]

What we need is a Government. A new kind of Government . One that works to serve the majority of the American People. One that puts the needs of the People before the needs of the politician and the Corporations.
Rumour has it there is such a Government in Canada. Anyone know where else such a Government exist?

[Lorianne]

Who's regulating the regulators?

[PaxEterna]

Elizabeth Warren is the best. She is the only honest person left.
The male leadership - or what passes for it - will ignore her until she goes away.

[BannedNBoston]

PROTECT US FROM OUR GOVERMENT!
350 BILLION IN TARP MISSING;
http://brasschecktv.com/page/639.html

[Icantbelieveher]

The senate will never allow anything that would protect the people! They work for the banks and insurance companies! We gave them our vote, and they squandered it!

[lobear00]

Our Judicial System is filled with Liars, Cheaters, Thieves. Our Congress is filled with Lairs, Cheaters, and Thieves, Our Justice Department is filled with Liars, Cheaters, and Thieves.

Wall Street, Pharmaceutical Companies, Healthcare Systems are filled with Liars, Cheaters, and Thieves. People cheating people, a Nation full of Hypocrites stepping on each other for a dollar. Then proclaim " God Bless America". Does "He " Really!

We have most members of Congress on the "Take", taking Bribes, from the Insurance industry! working against the American people, the very people that put these "Criminals " in the offices they now hold. This nation is in a very sad state of affairs.

[nomorefed]

When the people fear their government, there is tyranny; when the government fears the people, there is liberty.

~Thomas Jefferson

hat tip to http://www.short.ie/g264dk for the good articles

[olmossy]

Yeah and in so many words He said the Financial ledger of the US government should be a simple as a Farmers account books, and as easy to read by the common man.

Sound like WE need to start Frightning some Government don't it.? Cause right now they dont think we matter.

[FreedomCorpse]

The Office of Federal Housing Enterprise Oversight warned repeatedly in 2003/2004 of systemic risk in the housing markets. The White House and all of Congress and Senate ignored the warnings, even the white house fired the director of the OFHEO and replaced him with a 'see no evil, hear no evil' crony.

They can create as many agencies as they want. If there is no one listening, it doesn't matter the crisis will occur.

[Lorianne]

Well said.

And it continues ...
Fannie, Freddie asked to relax condo loan rules: report

http://www.reuters.com/article/GCA-Housing/idUSTRE55L39120090622

[PublicAdvocate]

Extend an Olive Brank to Ralph Nader.

For 40 years Ralph has been America's leading Consumer Advocate and a tireless fighter against corporate greed, corruption, bailouts for Wall Street, unsafe cars, predatory lending by banks and credit card rape of consumers.

Back in the 1970's Ralph Nader even urged the Carter administration to set up a watchdog agency within the federal government called Consumer Protection Office that would be tasked with protecting the public from the serial rip offs and scams from faulty and shoddy products to corporate boondoggles to financial predation, usury and gouging techniques that hurt workers and their families today.

If ever there was a qualified person, this is the man to tap in a direct or advisory role for creating a task force or office to put teeth into defending the public interests against rapacious predatory corporate corruption.
http://Nader.org

[psch]

Not sure about creating yet another agency. Couldn't this oversight be an expanded responsibility within an already established agency? Overall, I do think, this kind of oversight is sorely needed, be it within or outside of the existing structure, and EW is the one who should be given the power to oversea this function or all agencys to ensure that play fair ball. If I had to put my trust in someome to stand up for the average person, then it's her. EW has my full support!!!

[knosiswar]

We need to pass a law that Credit Card companies cannot solicit college students on universities receiving federal monies. The Morning Joe crew talked about it briefly one day and they were all shocked at the prospect that Credit Card companies pay the colleges for all the students they write applications for. Discover Card gave me a 2000 credit limit when I was in school and unemployed, and they never got it back.

[jerrypl]

Ms. Warren is the only one in this administration's circle of hires that have any brains connected to the American people. All the rest are connected to the bankster syndicate. She should be the czar of regulation and oversight. Make Bernanke and Geithner accountable to her! But Obama is weak.

http://eye-on-washington.blogspot.com