Monday, February 4, 2013
Regressives promote financial fraud
Indeed, in fact they are and their behavior proves that truth. Paul Krugman voices an obvious verity here, in that the GOP is going gangbusters to kill the Consumer Financial Protection Bureau (CFPB). I mean, how could we possibly need a government agency to protect us from financial fraud? Well let's see...remember the crises of 2008? How banks took advantage of uneducated and unsophisticated people by knowingly giving them mortgages they knew they could never afford, also knowing that they expected them to default because they had in fact bet on them doing so. It was obvious fraud that never brought down the economy, but noooo, we don't need protection from those honest brokers, do we? Also see this report.