Political Quotes

“barely a day goes by that doesn't bring news of another consumer protection rollback and another handout to Wall Street, day after day in this body or downtown. This weekend, we heard that the Federal Reserve plans changes to the Volcker rule--the rule that stops big banks from taking big risks with Americans' money. The month before, the Federal Reserve Vice Chair, Randal Quarles, said the Fed wants to loosen rules on foreign megabanks. Those are the banks like Santander and Deutsche Bank. These are banks headquartered abroad, but they abuse the public trust in this country and have been fined in the past. The Federal Reserve Vice Chair--who once was in the Bush administration, and prediction after prediction missed the implosion of the economy in 2007 and 2008--wants to loosen the rules on foreign megabanks. I don't even understand the logic, let alone the sensibleness of it. Today, we learned that Mick Mulvaney is continuing his systematic dismantling of the Consumer Financial Protection Bureau by disbanding the Consumer Advisory Board. It is a board of 25 advocates for American consumers and industry experts. It is required by law to meet twice a year, but Mulvaney now says they won't hold any meetings--not today, not tomorrow, not next week, not next month, period--they were supposed to meet with Mulvaney to advocate for American consumers, but they are done with that, I guess--not ever, until Mulvaney replaces all the members with his handpicked cronies.…”