NOW Dodd may Drop Independent Consumer Financial Protection Agency from Fin Regulatory Bill...LINK

[Blackhatjack]

http://online.wsj.com/article/SB10001424052748704363504575003360632239020.html

Honestly, compromise is always an element of all bipartisan bills coming out of Congress.

But this is a no-brainer! The Financial Regulatory Bill pending in the Senate which will reform the most egregious practices that lead to the Financial Crisis includes the creation of an Independent Consumer Financial Protection Agency that would be out from under direct control of the Treasury, and would focus on Consumers --which is exactly what Pres Obama asked for and promised the American people.

And NOW, after millions of $$ have been spent in an intensive lobbying push by the Big Banks, Sen Dodd says he is considering DROPPING the CFPA from the bill.... because it needs to be BI-PARTISAN.

Hmmm... really?

The public is going to be upset because the one protection that focuses on consumers is not passed with BIPARTISAN support? I DON'T THINK SO.

Let the Repubs vote against it --and face the voters at the polls.

But Dodd is not running for re-election. Why is he floating this trial balloon on behalf of the Banking Industry?

Just stunning if it happens. We, the consumers, cannot get even the crumbs while the ultra-wealthy Banking interests sit at the table and eat all the food.

[AndyA]

1. It sure makes Dodd look like a corrupt SOB.

Perhaps there's a cushy, high paying job promised to him in the banking industry if he plays nice with them? :shrug:

Until there are laws (that are actually enforced) that prevent conflicts of interest with Congress members, this kind of crap will keep happening.

[atreides1]

2. He wants to keep working after retirement

And what better job is there for him then working for the banking industry? No CFPA would make things easier.

[Rosa Luxemburg]

3. why bipartisan I thought Dems were in control?

[mdmc]

4. kickback son, kickback

Dodd is an old school pol. He wants to get paid!

[xchrom]

5. Same shot different day. Nt

[flyarm]

6. remember this...

Rahm Emanuel Tells Liberals To Kiss His Arse

[SoCalDem]

7. Now that he's not running, he's just buttering his bread

Back when he thought he would face voters, he had to pretend to be on their "side".. Now that he's done, he needs to cozy up to his decades' worth of benefactors, so he can line up a cushy job..

[jgraz]

8. That was the ONLY thing in that bill worth saving.

The rest is a giant, slobbery blow job for the financial industry.

[Blackhatjack]

9. Might be time to put the squeeze on the Democrats who will be left behind when Dodd leaves...

Time to make them aware that we are not going away even though Dodd may be gone, and we are going to hold them responsible if they don't speak up RIGHT NOW!

When will Democrats start standing up and fighting back?

And they are worried about the 2010 midterm elections? I don't think so. This is exactly what will keep Dems at home rather than voting.

[mzmolly]

10. "Republicans must agree to create a beefed-up consumer-protection division within another federal ..

"Republicans must agree to create a beefed-up consumer-protection division within another federal agency."

:shrug: