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At The Nation, Katrina vanden Heuvel writes, Elizabeth Warren's battle:

PhotobucketThe Consumer Financial Protection Bureau (CFPB)—the people’s agency and cop on the beat to protect consumers—is now a reality. Its website is live, you can sign-up for updates, and check out a sleek Arrested Development-style video narrated by Ron Howard that explains the bureau’s mission.

“David beat Goliath, but make no mistake: Goliath is not down for the count. Families can and should be proud of their new watchdog, but they would be wrong if they take its future security and independence for granted,” said Warren. “Many of those who have opposed the CFPB are still trying to chip away at its independence by subjecting it entirely to Congressional appropriations without any dedicated funding from the Federal Reserve.”

Indeed Texas Republican Representative Randy Neugebauer has introduced legislation to house the CFPB in Treasury so that Congress can control its funding through Appropriations. That would be a disaster, potentially immobilizing the bureau.

“Politicizing the funding of bank supervision would be a dangerous precedent, and it would deprive the CFPB of the predictable funding it will need to examine large and powerful banks consistently and to provide a level playing field with their non-bank competitors,” said Warren.

This week, Warren and the CFPB will host a summit examining the impact of credit card legislation passed by Congress one year ago to cleanup the industry. Participants will include academics, industry leaders, consumer advocates, and government officials.

This kind of work is at the heart of the CFPB mission, as described by Warren: “We can do our part to help level the playing field, to cut out the tricks and traps, to make it possible to master a credit card contract or a mortgage closing without needing an army of lawyers.”

• • • • •

Marwan Bishara, senior policy analyst at Al Jazeera, writes Gaddafi's threats were no different from those of any foreign occupier.

conchita writes ACTION: Help Prevent Another Massacre.

lotlizard writes Eyes on Egypt & Region Liveblog #122 - Libya

• • • • •

At Daily Kos on this date in 2008:

Another day, another story of GOP corruption. In this case, the offender is embattled Arizona Republican Rick Renzi, now indicted:

Republican Rep. Rick Renzi has been indicted for extortion, wire fraud, money laundering and other charges related to a land deal in Arizona.

A 26-page federal indictment unsealed in Arizona accuses Renzi and two former business partners of conspiring to promote the sale of land that buyers could swap for property owned by the federal government. The sale netted one of Renzi's former partners $4.5 million.

Extortion, fraud, money laundering. That's quite a list, Congressman. Sure you didn't miss one?

Originally posted to Daily Kos on Tue Feb 22, 2011 at 08:30 PM PST.

Also republished by I follow and I Quote Meteor Blades in my Diary Group.


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