Barack Obama actually said...

"And this wasn't just the failure of individuals. This was a failure of the entire system. We're proposing a new and powerful agency charged with one, just one job: looking out for ordinary consumers."

"I believe that jobs are best created not by government, but by businesses and entrepreneurs who are willing to take a risk on a good idea."

"[t]here are other agencies, like the Federal Trade Commission, charged with protecting consumers, and we must ensure that those agencies have the resources and the state-of-the-art tools to stop unfai..."

"Senator Schumer sets a high bar for public service, and I am honored to call him a mentor and a friend."