The New Yorker's James Surowiecki laments the political "demonization" of Elizabeth Warren and...

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Tony Petroski Comments (6373)
 
"Indeed, an empowered CFPB could actually be a boon to business."

Indeed. As we were all taught in business school, an agency of the federal government staffed with a lot of people earning full pay and guaranteed benefits and serving as shock troops for the class-action bar is just the tonic needed to stimulate our lagging business sector.
6 Jun 2011, 11:30 AM Reply Like

joro_ianev Comments (305)
 
My thoughts exactly!
6 Jun 2011, 01:16 PM Reply Like

Monngie Comments (928)
 
Someone has to be a foil to the "Banksters"!
6 Jun 2011, 04:28 PM Reply Like

Master of the Corner Comments (44)
 
We had $45 trillion in unregulated credit market default swaps (enough to send us back to the stone ages), and all the b-school "geniuses" want to do is complain about regulation. Elizabeth Warren would make an excellent head of the Consumer Financial Protection Bureau. But watch the propaganda machine shoot her down...
6 Jun 2011, 11:53 AM Reply Like

Jason Rines (iThinkBig) Comments (2231)
 
I agree with you. My monthly bills are roughly $5k per month. Out of that $3,000 is mortgage and financial services, including insurance. Last month there were $600 in fradulent additional charges, fees. That is 20% financial fraud in all my household billings. As a Small Business owner I will not make further substantial investment into the economy while this clumsy, butt raping method of recapitaling banks continues. So go ahead Washington, use your diminishing power to marginalize consumer advocates like Warren. Your accelerating your own demise.

2013 Fed Charter coming up for renewal. Not reigning in your boys means you will be out of America. Foreign rentiers attemping to destroy America's sovereignty is treason. It's like the cheater in the movie Casino. You can walk out intact with previous ill gotten gains or attempt to continue the Ponzi. Watch the clip yoursleves Jack-asses.
6 Jun 2011, 12:25 PM Reply Like

Monngie Comments (928)
 
You tell'em Master!
6 Jun 2011, 04:29 PM Reply Like

montanamark Comments (1359)
 
LOL - a government agency is here to help
6 Jun 2011, 11:58 AM Reply Like

Duude Comments (3274)
 
"I'm from the government, and I'm here to help."
6 Jun 2011, 12:01 PM Reply Like

Master of the Corner Comments (44)
 
LOL. I'm from AIG, and I'm here to help. I'm from Bear Sterns, and I want to help you with your finances...
6 Jun 2011, 12:13 PM Reply Like

Richard Mackenzie Comments (449)
 
It's hard to see anyone disagreeing with the article (unless they didn't read it). It doesn't make any claims beyond the obvious.
6 Jun 2011, 01:07 PM Reply Like

User 487974 Comments (1105)
 
The woman is pure and simple a socialist and progressive of the first order. This whole department should be scrapped for its blatant disregard for policy. Off Balance sheet budget. She doesn't even have to explain herself to congress? Not the department either? This is like that nasty little surprise most investors don't know about the gold etf, GLD. Its taxed as a gift, 28%, no long/short term cap gains here kids. Learn, then get ready, the final curtain is coming down. Warren is ready to let the curtains fly!
Jerry
6 Jun 2011, 06:47 PM Reply Like

Fr33f0rm Comments (291)
 
So here's the choice...either make lenders more personally accountable for their losses or force loan terms to be simpler.

The most profitable aspect of banks aren't the interest rates on loans, its the spectacular returns on penalties. It is profitable for them to obfuscate the fees to make it more likely that people with cost themselves money.

All of my stances stem from basic game theory...if deception has an overwhelming expected value (i.e. little cost to getting caught) then you create a scenario where fraud and misrepresentation will run rampant.
6 Jun 2011, 09:41 PM Reply Like