Another of the many efforts from the Obama Administration was released this week! An all new 152-page draft bill to create ANOTHER new commission, the Consumer Financial Product Commission. While it’s intended to protect against confusion among all the different financial industry products for consumers, it sounds like just another way of adding to our current financial misery!
Obama said:
“those ridiculous contracts with pages of fine print that no one can figure out – those things will be a thing of the past,”
what he doesn’t mention is that all of that junk got there in the first place, as a result of previous rules and regulations drafted over the years from other consumer protection guidelines! In other words… more of the same, except this time, we want you to think we are actually something about it! …yawn…It will be interesting to see how much this new commission will end up costing taxpayers in the longrun, since most of these types of initiatives are developed for good cause, but by the time the lobbyists get their claws into the actual verbiage, guess who gets screwed in the end?
0 responses so far ↓
There are no comments yet...Kick things off by filling out the form below.
Leave a Comment