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(The New York Times)   The Consumer Bureau works. That worries Republicans   (nytimes.com) divider line 153
    More: Obvious, Republican, Richard Cordray, financial institutions, Consumer Financial Protection Bureau, Dodd-Frank  
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4503 clicks; posted to Politics » on 11 Feb 2013 at 12:35 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-02-11 10:38:49 AM
lh3.googleusercontent.com
 
2013-02-11 10:43:30 AM
As well it should.
 
2013-02-11 10:49:35 AM
TFA:
"a federal appeals court recently ruled in another case that the Senate was not in recess at that time because Republicans had arranged for sham sessions. "

So, a federal court has documented that the GOP has arranged sham sessions for the sole purpose of obstructing the legal execution of recess appointments? I sure wish the liberal media would run this story.
 
2013-02-11 10:59:52 AM

vudutek: TFA:
"a federal appeals court recently ruled in another case that the Senate was not in recess at that time because Republicans had arranged for sham sessions. "

So, a federal court has documented that the GOP has arranged sham sessions for the sole purpose of obstructing the legal execution of recess appointments? I sure wish the liberal media would run this story.


Heh. Good luck with that. I love the part of the article where they gloss over about how the credit companies practically throw credit cards at students. I left college with $11,000 in loans and $10,000 worth of credit cards. It was amazing. I was just a dumb kid, and I had all this credit. In 10 years, I paid about $12,000 in interest. It got discharged in the bankruptcy, but I still have $11,000 in student loans. It never goes away. It's like herpes.
 
2013-02-11 11:35:31 AM

ecmoRandomNumbers: but I still have $11,000 in student loans


That's all? You is rich.
 
2013-02-11 11:46:19 AM
Isn't this the same tactic they used to stop the CDC from conducting gun crime studies? If you can't beat em, defund em?
 
2013-02-11 11:59:33 AM

whistleridge: Isn't this the same tactic they used to stop the CDC from conducting gun crime studies? If you can't beat em, defund em?


My State's GOP is looking to fire everyone in our oversight boards.
 
2013-02-11 12:04:01 PM
I truly don't understand any reason outside of corruption to fight measures that provide oversight and protections to consumers.
 
2013-02-11 12:05:02 PM

Bloody William: I truly don't understand any reason outside of corruption to fight measures that provide oversight and protections to consumers.


Mur' Gubbamint'
 
2013-02-11 12:37:55 PM

Bloody William: I truly don't understand any reason outside of corruption to fight measures that provide oversight and protections to consumers.


Stickin it To Da Libs!
 
2013-02-11 12:37:56 PM
godammitsomuch
 
2013-02-11 12:38:14 PM
The Consumer Bureau works. That worries Republicans

ftfy

/Working is for the little people, not God's Own Party!
 
2013-02-11 12:39:02 PM

Bloody William: I truly don't understand any reason outside of corruption to fight measures that provide oversight and protections to consumers.


Cui bono?
 
2013-02-11 12:39:40 PM
Just because it's going around hammering corporations doesn't mean it's working.

Did the author of the article research each case to see if the fines were justified, or did it just take the agency's word for it?

The government agency said you were bad, pay the fine.. you can always appeal to the government that the government is wrong.
 
2013-02-11 12:39:59 PM
Corporations are people too, my friend. Banks aren't bad people.
 
2013-02-11 12:40:10 PM
all financial transactions should be done with complete transparency for the parties involved. Get rid of "fine print".

I am ok with this.
 
2013-02-11 12:42:02 PM

MugzyBrown: Just because it's going around hammering corporations doesn't mean it's working.

Did the author of the article research each case to see if the fines were justified, or did it just take the agency's word for it?

The government agency said you were bad, pay the fine.. you can always appeal to the government that the government is wrong.


It's about time someone thought about the real victims here ......monster mega-banks.

If only they had a voice in Washington looking out for them.
 
2013-02-11 12:42:12 PM

skullkrusher: all financial transactions should be done with complete transparency for the parties involved. Get rid of "fine print".

I am ok with this.


There was no fine print when I closed on my mortgage or refinance.  I just had to sign like 50 documents.. about 30 of them federal or state disclosures that I had to sign that said I was told what the other 20 documents said.
 
2013-02-11 12:43:55 PM
Earlier this month, 43 Senate Republicans to the president, vowing to block any nominee until "key structural changes" are made, including a bipartisan commission to run the bureau instead of one director, and Congressional control of its appropriations. (It is now financed with bank fees paid to the Federal Reserve.)

See this watchdog?  We won't be happy until it's a neutered lap dog with a muzzle, for the People's sake.
 
2013-02-11 12:45:28 PM

MugzyBrown: Just because it's going around hammering corporations doesn't mean it's working.

Did the author of the article research each case to see if the fines were justified, or did it just take the agency's word for it?

The government agency said you were bad, pay the fine.. you can always appeal to the government that the government is wrong.


Actually, they linked to full stories about the issues they mentioned and in none of those cases did they dole out fines.
 
2013-02-11 12:46:07 PM

MugzyBrown: The government agency said you were bad, pay the fine.. you can always appeal to the government that the government is wrong.


Yea, it's called 'going to court'.  Lord knows big businesses never get their way in court.
 
2013-02-11 12:50:47 PM

ecmoRandomNumbers: vudutek: TFA:
"a federal appeals court recently ruled in another case that the Senate was not in recess at that time because Republicans had arranged for sham sessions. "

So, a federal court has documented that the GOP has arranged sham sessions for the sole purpose of obstructing the legal execution of recess appointments? I sure wish the liberal media would run this story.

Heh. Good luck with that. I love the part of the article where they gloss over about how the credit companies practically throw credit cards at students. I left college with $11,000 in loans and $10,000 worth of credit cards. It was amazing. I was just a dumb kid, and I had all this credit. In 10 years, I paid about $12,000 in interest. It got discharged in the bankruptcy, but I still have $11,000 in student loans. It never goes away. It's like herpes.



You left college with essentially 21000 dollars in debt and you couldn't manage that?  Was your degree in Classic Russian literature or something?
 
2013-02-11 12:52:20 PM

CapeFearCadaver: whistleridge: Isn't this the same tactic they used to stop the CDC from conducting gun crime studies? If you can't beat em, defund em?

My State's GOP is looking to fire everyone in our oversight boards.


Wow, it takes a lot of guts to be that blatantly obvious about being ultra-partisan like that.

"I'm going to introduce a bill that fires everyone I don't agree with"
 
2013-02-11 12:55:28 PM
You libs just don't get it.

We aren't suppose to know what's in our credit card contracts. How do you think our great and wonderful corporations can stay exceptional and keep america exceptional if the average idiot can understand their mortgage?
 
2013-02-11 12:56:35 PM

MugzyBrown: skullkrusher: all financial transactions should be done with complete transparency for the parties involved. Get rid of "fine print".

I am ok with this.

There was no fine print when I closed on my mortgage or refinance.  I just had to sign like 50 documents.. about 30 of them federal or state disclosures that I had to sign that said I was told what the other 20 documents said.


perhaps not necessary. Making anything but transparent loan terms, for example, could be a valid excuse for breaking a loan agreement
 
2013-02-11 12:56:46 PM

Because People in power are Stupid: ecmoRandomNumbers: but I still have $11,000 in student loans

That's all? You is rich.


I left law school 17 years ago, and I still have a student loan balance of almost $40K (and that's on top of a scholarship that covered 3/4 of my tuition). I realized that I don't need life insurance, because if I die my family becomes $40K richer.
 
2013-02-11 12:56:58 PM
Pffft.  Who needs consumer protection?  The Job Creators have our best interests at heart.
 
2013-02-11 12:57:10 PM
www.famushu.com 

"You tell them: if they don't agree with me, I'll fire them and replace them with people who will..."
 
2013-02-11 12:58:15 PM
The Republicans always say the government won't work, and then they do their damnedest to make sure it cannot.
 
2013-02-11 01:01:27 PM

Mrtraveler01: CapeFearCadaver: whistleridge: Isn't this the same tactic they used to stop the CDC from conducting gun crime studies? If you can't beat em, defund em?

My State's GOP is looking to fire everyone in our oversight boards.

Wow, it takes a lot of guts to be that blatantly obvious about being ultra-partisan like that.

"I'm going to introduce a bill that fires everyone I don't agree with"


The GOP has been obviously doing it for 30 years. Where they haven't been effectively stonewalling a complete government (by filibustering nominees), they've been politicizing it (with the Monica Goodlings of the world) and getting themselves/their ideological "gubmint bad" comrades to run it.

The problem is that for most of those 30-odd years, only us dirty libs noticed. It's only in the last 2 general-election cycles that I'm hearing people say "The GOP believes government is bad, and they get elected to prove it." who aren't already seasoned politicos.
 
2013-02-11 01:04:32 PM
But yeah, the Republicans are really looking out for you.
 
2013-02-11 01:06:26 PM
Bankers should have to take a rape wand before they're allowed to issue a subprime mortgage with balloon payments.
 
2013-02-11 01:07:33 PM
Business wants less oversight for the same reason criminals want less cops...and the Republicans are more than happy to oblige....because they've been paid to do so.

THIS is why we can't have nice things...
 
2013-02-11 01:08:57 PM
The GOP hates and worries about anything that helps citizens or people in general. When St Reagan said, 
"Government doesn't solve problems, government is the problem." He meant that as a blueprint for GOP governance.
 
2013-02-11 01:10:42 PM

Dr Dreidel: Mrtraveler01: CapeFearCadaver: whistleridge: Isn't this the same tactic they used to stop the CDC from conducting gun crime studies? If you can't beat em, defund em?

My State's GOP is looking to fire everyone in our oversight boards.

Wow, it takes a lot of guts to be that blatantly obvious about being ultra-partisan like that.

"I'm going to introduce a bill that fires everyone I don't agree with"

The GOP has been obviously doing it for 30 years. Where they haven't been effectively stonewalling a complete government (by filibustering nominees), they've been politicizing it (with the Monica Goodlings of the world) and getting themselves/their ideological "gubmint bad" comrades to run it.

The problem is that for most of those 30-odd years, only us dirty libs noticed. It's only in the last 2 general-election cycles that I'm hearing people say "The GOP believes government is bad, and they get elected to prove it." who aren't already seasoned politicos.


It just stuns me.

Even Illinois isn't that obvious about its corruption like NC seems to be.
 
2013-02-11 01:10:53 PM
¶It called a halt to predatory practices by mortgage lenders, ensuring that borrowers are not saddled with loans they can't afford and preventing brokers from earning higher commissions for higher interest rates.

Weird.  Anyone else get free Pilcrows with their article?
 
2013-02-11 01:14:55 PM

MugzyBrown: There was no fine print when I closed on my mortgage or refinance. I just had to sign like 50 documents.. about 30 of them federal or state disclosures that I had to sign that said I was told what the other 20 documents said.


This paperwork should have to be presented before a formal offer is made or accepted on the purchase of a house.  One of the problems we have is that the "truth in lending" documents that outline what the true cost of homeownership including taxes and insurance are not presented until closing.  When the buy finally realizes that his or her monthly payments are going to be $2300 a month instead of the $1700 the bank has been quoting as a mortgage amount they are left with the decision to walk away from the closing table, screwing the family who they are buying the house from and losing the money they put in for earnest money and an inspection or they can take on an additional $600 a month they did not realize were in the cost of owning this home.  When we closed on our home the person at the title company said that they quit doing business with several builders and banks because none of the purchasers they worked with had any clue that there were additional taxes and monthly cost tacked on to the monthly payment they were quoted.
 
2013-02-11 01:18:09 PM

Mrtraveler01: It just stuns me.

Even Illinois isn't that obvious about its corruption like NC seems to be.


Oh. It gets better. They're still pissed that the State went blue in 2008, now that it's red again they're punishing us for letting it go blue:

NC Senate Republicans vote to block Medicaid expansion, exchanges
NC House gives initial OK to unemployment changes
 
2013-02-11 01:18:49 PM

CapeFearCadaver: whistleridge: Isn't this the same tactic they used to stop the CDC from conducting gun crime studies? If you can't beat em, defund em?

My State's GOP is looking to fire everyone in our oversight boards.


There couldn't be anything wrong with this. It's not like the newly elected GOP governor has strong ties to energy companies that would stand to benefit from fracking

... oh, wait.
 
2013-02-11 01:20:41 PM

keytronic: You left college with essentially 21000 dollars in debt and you couldn't manage that? Was your degree in Classic Russian literature or something?


The average college graduate is making between $35K and $40K a year with a good degree.  If you live in any kind of city trying to make up 20% on $10,000 every year much less pay down the principle on the rest and make the payments on a $12,000 student loan is not as easy as you think it is.
 
2013-02-11 01:24:09 PM

keytronic: ecmoRandomNumbers: vudutek: TFA:
"a federal appeals court recently ruled in another case that the Senate was not in recess at that time because Republicans had arranged for sham sessions. "

So, a federal court has documented that the GOP has arranged sham sessions for the sole purpose of obstructing the legal execution of recess appointments? I sure wish the liberal media would run this story.

Heh. Good luck with that. I love the part of the article where they gloss over about how the credit companies practically throw credit cards at students. I left college with $11,000 in loans and $10,000 worth of credit cards. It was amazing. I was just a dumb kid, and I had all this credit. In 10 years, I paid about $12,000 in interest. It got discharged in the bankruptcy, but I still have $11,000 in student loans. It never goes away. It's like herpes.


You left college with essentially 21000 dollars in debt and you couldn't manage that?  Was your degree in Classic Russian literature or something?


Actually, Music (violin scholarship) and Spanish Literature. Close. :)
 
2013-02-11 01:25:30 PM
If you've been paying attention, they've been trying to destroy it from the moment it was created.  Stonewalling Warren's appointment being the most visible part.
 
2013-02-11 01:26:09 PM
Mind you, this was in the 90s, when we thought we could get away with a liberal arts degree. We didn't know we'd be competing with 20-year-old Indians (dots, not feathers) and 13-year-old Chinese girls for jobs.
 
2013-02-11 01:27:09 PM

keytronic: ecmoRandomNumbers: vudutek: TFA:
"a federal appeals court recently ruled in another case that the Senate was not in recess at that time because Republicans had arranged for sham sessions. "

So, a federal court has documented that the GOP has arranged sham sessions for the sole purpose of obstructing the legal execution of recess appointments? I sure wish the liberal media would run this story.

Heh. Good luck with that. I love the part of the article where they gloss over about how the credit companies practically throw credit cards at students. I left college with $11,000 in loans and $10,000 worth of credit cards. It was amazing. I was just a dumb kid, and I had all this credit. In 10 years, I paid about $12,000 in interest. It got discharged in the bankruptcy, but I still have $11,000 in student loans. It never goes away. It's like herpes.


You left college with essentially 21000 dollars in debt and you couldn't manage that?  Was your degree in Classic Russian literature or something?


If you try to do *anything* other than work full time in a corporate job - travel, teach overseas, raise kids, go back to school, work for a non-profit, try to start your own business, work in any creative field (writing, acting etc.) - you will not be able to pay down student debt.  Baby Boomers got their degrees for free and got to fark around for years before starting a real career; the rest of us get issued handcuffs with the diploma.
 
2013-02-11 01:27:22 PM
The Consumer Bureau works. That worries Republicans, otherwise known as crony capitalist pigs.


F*k all Republicans.  the are the Enemies of the State. the Enemies of Representative Democracy.


but they'll look into your eyes and tell you how much they love America just like the Psychopaths they are.
 
2013-02-11 01:27:43 PM

vudutek: TFA:
"a federal appeals court recently ruled in another case that the Senate was not in recess at that time because Republicans had arranged for sham sessions. "

So, a federal court has documented that the GOP has arranged sham sessions for the sole purpose of obstructing the legal execution of recess appointments? I sure wish the liberal media would run this story.


"Sham sessions" is the reporter's opinion, not the court's.  It's also my opinion.

The other court's ruling, that the Constitution refers to "the recess" and that means the end-off-session recess, is a pretty serious challenge.
 
2013-02-11 01:27:54 PM

Bloody William: I truly don't understand any reason outside of corruption to fight measures that provide oversight and protections to consumers.


Republicans hate average middle class and poor Americans--except for when they're up for election. They love us until after they get reelected, and then go on to continue their work of undermining everything that has been put in place for the benefit of the average citizen, successfully manipulating, through their media arm, at least some of us into believing that agencies such as the CFPB and the EPA are somehow evil because they force corporations to abide by the rules, therefore forcing them out of business(?!). In my mind, if a corporation goes out of business or has to lay off its workers because it's made to follow the rules, then it's probably doing it wrong to begin with. Just my opinion.

In the past when people said this, I used to regard them a bit hyperbolic, but lately their actions have proven it to be true.
 
2013-02-11 01:28:19 PM

ecmoRandomNumbers: keytronic: ecmoRandomNumbers: vudutek: TFA:
"a federal appeals court recently ruled in another case that the Senate was not in recess at that time because Republicans had arranged for sham sessions. "

So, a federal court has documented that the GOP has arranged sham sessions for the sole purpose of obstructing the legal execution of recess appointments? I sure wish the liberal media would run this story.

Heh. Good luck with that. I love the part of the article where they gloss over about how the credit companies practically throw credit cards at students. I left college with $11,000 in loans and $10,000 worth of credit cards. It was amazing. I was just a dumb kid, and I had all this credit. In 10 years, I paid about $12,000 in interest. It got discharged in the bankruptcy, but I still have $11,000 in student loans. It never goes away. It's like herpes.


You left college with essentially 21000 dollars in debt and you couldn't manage that?  Was your degree in Classic Russian literature or something?

Actually, Music (violin scholarship) and Spanish Literature. Close. :)


Enjoy law school!

Seriously, though, I recently met the one of the most influential international economists in Seattle - he manages a massive portfolio of foreign investments, and is in constant demand as a speaker and writer. His academic credentials consist of a Ph.D. in Philosophy. The importance of pursuing any particular course of study is highly overstated.
 
2013-02-11 01:29:17 PM

ecmoRandomNumbers: Mind you, this was in the 90s, when we thought we could get away with a liberal arts degree. We didn't know we'd be competing with 20-year-old Indians (dots, not feathers) and 13-year-old Chinese girls for jobs.


You think you have it bad? Think about all the smarmy assholes at that same time in the 90s who told liberal arts majors, "That stuff is useless! The job market's gonna be all over us Computer Science majors when we graduate!" They had to watch as they lost their jobs to...20-year-old Indians and 13-year-old Chinese girls.

Sorry, I had to stop and laugh after thinking about them.
 
2013-02-11 01:29:40 PM

Bloody William: I truly don't understand any reason outside of corruption to fight measures that provide oversight and protections to consumers.


That's because the true purpose of oversight is to kill jobs. ;-)
 
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