Tuesday, April 27, 2010

Republican Alternative Financial Reform Plan


by: DaveJ
Tue Apr 27, 2010 at 21:05

At the very last minute, after twice voting to filibuster the bill that took months of bipartisan effort to write, the Republicans are circulating a draft of an alternative Financial Reform plan.

The WSJ Real Time Economics blog. Click through for details. One thing I see is that instead of an agency to protect consumers from financial scams they would set up a "Council for Consumer Financial Protection" that only covers the biggest financial companies. It also pre-empts state laws, so states that protect consumers won't be able to do that anymore.


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