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Independence seems the key word here March 1, 2010

Posted by WillardWhyte in Economy.

I’ve kind of cottoned to FDIC Chair Sheila Bair as the whole financial world ducked down the rabbit hole and then popped back out all shiny fresh and clean as a hound’s tooth, seemingly little worse for wear. (Alas! Poor Lehman! We hardly knew ya.)

She may be the last voice arguing for an independent consumer financial protection agency to look out specifically for consumers as we move forward with cards, loans, mortgages, IRAs and all the other financial instruments people we hardly know push under our noses, many times when we are not in the best of circumstances. She went to bat for this idea again today.

I’m not sure where I come down on this, but I sense that if  I had to make a choice I’d opt for an independent cop on the beat, not a “bureau” down the hall from where the boys are huddling over what’s best for the global financial system.

So I am just left with the feeling that if anyone down there is looking out for me, it’s Sheila. Not that she’s right, necessarily, because this is way out of my pay grade. Maybe it’s just the way they seem to just want her to go away and stop fussing over what Dodd and the GOP are workin’ up on this one.



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