Friday
Jul242009
Geithner: New Consumer Protection Agency Must Write And Enforce Rules
Staff
Treasury Secretary Timothy Geithner explains why the newly proposed Consumer Financial Protection Agency must have the authority to both write and enforce rules for consumer protection. (0:33).
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Reader Comments (1)
Elizabeth Warren makes an even more compelling case for retooling regulation and making sure oversight is exactly that. It's not just about a new commission; it's about changing corporate--and government--culture.
Her argument is here: http://www.newdeal20.org/?p=3626
But the takeaway, that those being regulated should not be allowed to choose their regulators, seems to me so obvious it's infuriating that it isn't yet true.