Showdown In Chicago: Sheila Bair Speaks To Protesters, Backs Consumer Protection Agency (VIDEO)
ORIGINAL POST (Scroll down for a slideshow of today's protests):
Before she appeared at the American Bankers Association annual convention today, Federal Deposit Insurance Corporation head Sheila Bair addressed protesters at the conference.
(Check out HuffPost's coverage of the protests here.)
Bair said she "strongly supports" the creation of a consumer financial protection agency, which would shield Americans from confusing credit card and mortgage offers. Bair also expressed regret that existing regulations hadn't done more to prevent the crisis.
"In looking at indecipherable credit card statements and documents, mortgages you can't understand and APRs from payday loans and high overdraft fees, I don't see how anyone can say we've done a good job protecting consumers from financial services."
Bair also added, "It's time to put an end to the 'too big to fail' doctrine... Yes, no more bailouts, no more bailouts!"
UPDATED 10/26 2:34:
Via the Flickr and Twitter accounts of National People's Action, the SEIU and other protest participants, we've compiled a slideshow of various pictures of the scene in Chicago today. Check out the photos below:
(Note the photos also include a protest that occurred yesterday in New York City. The Northwwest Bronx Community & Clergy Coalition gathered in front of the home of Goldman Sachs CEO, Lloyd Blankfein.)
(Check back here regularly for updates and photos from the protest.)