Political Quotes

“there has been a lot of wild rhetoric, quite frankly, hyperbole, exaggeration. I wanted to try to bring this discussion and this debate back to reality. To do that, I wanted to remind folks that conservatives objecting to this nomination have, from the very beginning, laid out three very narrow, specific, concrete reforms we are seeking. So this notion that we are against consumer protection, we are trying to gut CFPB, is silly. Let's get back to reality. Let's get back to what we have said from the very beginning: We want these three important reforms. First of all, we think it is very important for the single Director, a new czar quite frankly, a credit czar, to be replaced with a board to oversee this Bureau. That is how other comparable agencies operate. The best example--the best comparison--is the SEC. I think that is a critical check on the Bureau's authority to have a board that can discuss and come up with a consensus, not a single agency. Secondly, related to that, there should be safety and soundness checks for the prudential financial regulators who oversee the safety and soundness of financial institutions. One of the core reasons we had the 2008 financial crisis is we had political agendas run amok with regard to financial institutions with no safety and soundness checks. We are putting that same problem on steroids in this new all-powerful bureaucracy. Again, point No.…”