“Don’t throw stones from a glass house – especially at an independent watchdog like Elizabeth Warren.”
That’s the latest from AFR’s Director, Heather Booth, who has a new post over at the New Deal 2.0 blog. Click here to read the full post. She says:
Over at the U.S. Chamber of Commerce’s website, Ryan McKee has been slamming Elizabeth Warren’s recent opinion piece in the Wall Street Journal for, among other things, toxifying the political debate around financial regulatory reform by using the words “Wall Street CEOs” nine times.
You may remember McKee as the most vocal spokesperson for the Chamber’s effort over the past year to tow the financial industry’s line whenever and wherever possible — but particularly in its flashy, well-resourced campaign to kill the Consumer Financial Protection Agency (CFPA).
The CFPA is the part of the financial regulatory reform package that Congress is considering that would be protect working families and small businesses. It would prevent the kinds of abuses that have stripped so much money from the pockets of families, and that also cost millions of Americans their jobs. The agency would do this mostly by getting rid of fine print, increasing competition for financial products, and making the market work properly again. By allowing the market to function better, the Consumer Financial Protection Agency would increase stability and so decrease some profits and bonuses in the financial industry-and so a lot of industry executives don’t much like it.