Blue Dogs Aim To Scrap Obama's Financial Product Safety Commission

Politico:

Blue Dogs and other conservative Democrats -- uneasy with a key element of President Barack Obama's plan to regulate Wall Street -- are rallying around an alternative proposal that scraps the consumer financial protection agency the president has been pushing.

Rep. Walt Minnick, a freshman Democrat from Idaho, has floated the new plan. Instead of creating a new federal agency to protect consumers from predatory financial firms and shoddy products, Minnick's plan would have existing state and federal regulators work together in a "consumer financial protection council."

Read the whole story: Politico

Comments

[CarmanK]

These guys aren't blue dogs they are yellow dogs and are incompatible with a progressive democratic agenda. Please let us know which is running in 2010, so we can get a primary challenger in the race. I think the american people and I know this democrat is tired of the "do nothing cowardice" that defines the blue dogs. They have no fresh ideas, they are seekers of status quo and they definitely are more interested in the "jurist persons" created by the US Supreme Court than the human persons who actually voted for them and for whom the constitution was written and the revolutionary war fought. It is time we stopped letting the blue dogs play their red games and continue to be elected. What is the DCCC going to do this time around. Not with my money, will a blue dog rise again!!

[MrJM]

'The so-called "Blue Dog Democrats" who oppose Obama's plan are doing it for one reason--they have to go back to their generally blue-collar, working-class, lack of higher-education redneck constituencies and explain to them why they voted for the progressive policies that will benefit them, but which they have been led to believe are Anti-American and thus somehow evil. These folks are listening to the conservative Christian Republicans' fear mongering, and don't have the time or apparently the intellect to investigate the facts. They better HOPE they retain the right to carry guns, they'll need them when the rich get richer and the poor get poorer, and they have to hunt squirrels for dinner.'
-- James E. Cornette
http://www.jimcornette.com/Commentary.html

[PhilipTaylor]

NO Country on EARTH, in the LAST BILLION YEARS, has needed Consumer Protection, provided by a NON-Wall Street Friendly Agency, more than America and Americans!

The TRICKS & TRAPS, Schemes, Scams, and CR1MES of the last NINE years Proves that POINT beyond A Reasonable DOUBT!

[sueinmn]

BLUE DOGS need to ngo . No other options.

[sueinmn]

The problem with doing things on a state level is that red states will never reform strong enough as they are too corporate minded. We need a federal level equal for ALL citzens not just those willing to reform or things will NEVER CHANGE!

[jsijason]

Corporate Shills

[DaveC19]

These guys should just change parties. Everyone knows they are really just Republicans anyway. Cut the bull and just come out, "blue dog Republicans".

[Fred Hood]

Blue dog my a@@ call them what they are bought and paid for traitors!!!

[scat]

good for them. !!!! just a quick post about how the gov't runs things... Yep they sure are qualified.

It was probably, in the end, a complete waste of taxpayer money,’’ said John Wolkonowicz, a senior auto analyst at IHS Global Insight, Lexington forecasting firm. “The dealers, who were supposed to be the primary beneficiaries, many were forced into cash flow problems because the government didn’t pay them in a timely fashion.’’

From the outset, there were problems with the Car Allowance Rebate System. It was supposed to start July 1 but was delayed until July 24. The rules were complicated, and the list of qualifying vehicles and other requirements changed repeatedly. And in addition to the formidable paperwork, the government website set up to process the deals kept crashing, creating a backlog.

[spinns17]

they just have to take care of there owners.good little trained pups.woof woof

[TXfemmom]

I have grown so tired of Blue Dogs and the system we have in the Senate that I think it is time for us to force the States of the former Confederacy to secede and to look remaining states who have Blue Dog Dems in the face and let them know they learn to play nice or they can go, too.

The Senate system does not work anymore. A state which has one tenth the population of another should not be able to have the same strength in formulating government as the other. We should have a base of two Senate seats for every state, and then add forty Senate seats which would then be apportioned by population, with no state having more than four.

[Meggie]

No more money to DNC, DSCC, DCCC until they reign in these people they let run as Democrats.

[Greg Petty]

blue dogs more like hotdogs

[SizeMatters]

Great idea. What do we need another federal agency for? The SEC was warned many times about Madoff and did absolutely nothing.

[Meggie]

Republicans always complain about government, and then make sure they get what they want so they can make their point. Madoff is an excellent example.
Well, remove repubs from our government and maybe America will have some success at being competent and able to function in the world again.

[gespenster]

They've kicked the can down the road and want to KEEP kicking it, setting this country up for a catastrophe that will DWARF the 1930's collapse.

No matter how many action verbs the White House press releases contains to convince people that B.O.is doing something: 'urges,' pushes,' contemplates,' 'considers' - REFORM,- he hasn't the WILL or the EXPERIENCE to CHANGE anything on Wall Street,.

He has done NOTHING but have Treasury PRINT MORE MONEY and sell bonds to China to fund it this LAUGHABLE "consumer-less, jobless" RECOVERY SHAM and now they are realizing that China eventually will or ARE figuring out that we will never be able to repay it.

This administration stinks of FAIL and they will drag the country right down with them.

[scat]

a little over the top. But 100% correct.

[dnegri]

Boy, if people think Washington is "corrupt", wait till you see State government in action.

[zitlight73]

Exactly, that's one of the biggest reasons helath insurance companies can get away with all their crap. State officials are cheaper to bribe.

[dnegri]

A one-term and out Congressman leading the Blue Dogs on this? Interesting.