Gibbs warns Congress not to soften consumer financial protection plan

[SpartanDem]

Source: The Hill

The White House is concerned by lawmakers' moves to scale back the size and reach of it proposed consumer financial protection agency, press secretary Robert Gibbs said Tuesday.

Gibbs chided House Democrats who have weakened the proposed consumer watchdog, but stopped short of issuing a veto threat for the bill as it's currently drafted.

"This is a big concern of the president's and a big concern of the administration," Gibbs said about the scaling-back of the proposal, driven by House Financial Services Committee Chairman Barney Frank (D-Mass.).

"The president would not sign any bill that he thought was too weak," Gibbs later added when asked if President Barack Obama would veto the bill if he thought it were too weak.


Read more: http://thehill.com/blogs/blog-briefing-room/news/60729-gibbs-warns-congress-on-consumer-financial-protection-plan

[MannyGoldstein]

1. Quick... Better go bail out a banker!

A few stern words and he'll sign the thing. Obama has done zero to impede bankers, I don't know why it would change now.

[Iowa]

2. +1

[roguevalley]

3. Or what, Gibbs? You'll hold your breath until you turn blue?

[Steerpike]

4. IT'S OK!

Take your time. We have all day. No hurry...

The question is..."Financial Protection" for whom?

Unless legislation rolls back current financial policies, the damage has already been done.