Jul 24, 2009

Consumer protection by the Fed? Hilarious!

As you know, the Fed is concerned about losing its authority to oversee consumer protection issues to a new agency set up for that specific purpose.

Considering the financial collapse of 2008, the wonky loans and other transactions pre-2008, and how things have been playing out in financial systems in the US and all over the globe, I cannot be the only one who wonders exactly when the Fed's protective "overseeing" on behalf of consumers occurred!

Yes, the Federal Reserve protects someone, but...consumers? If the Fed's most recent performance is what they call 'protection' then sign me up for an end to it - I'll take my chances without the high-flying financial "experts."

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