Tuesday October 20, 2009, 11:11 am
Absolutely.. but the public must also be held responsible for their own finances... and realise that we all have to work according to a budget..

Tuesday October 20, 2009, 12:26 pm
Confirmation

Thank you for taking action with Green America. Your message in support of the Consumer Financial Protection Agency has been sent.
Thanks Daphna

Tuesday October 20, 2009, 2:55 pm
Signed and noted!

Tuesday October 20, 2009, 3:12 pm
Confirmation

Thank you for taking action with Green America. Your message in support of the Consumer Financial Protection Agency has been sent.

Tuesday October 20, 2009, 4:19 pm
Signed thanks Daphna

Tuesday October 20, 2009, 11:55 pm
Done, thanks Daphna!

Thursday October 22, 2009, 3:11 am
I would encourage support of this legislation with a caution. The name of the legislation is good, make sure the legislation itself is good. A boatload of lobbying money from the industry is in the pockets of those drafting this important bill. But most congressional representatives have no experience in the industry and may not know exactly what needs to be in the bill. Download the drafts and read what is planned.

As a financial services professional in the industry for over twenty years, I find it reprehensible that most people have no idea how the industry makes it's money. That is not the fault of the consumer, but of the industry and the gov't that regulates it! So far, this legislation is suspect. Name is cool, actual initial drafts do not do what the name implies. I support the concept, but am withholding judgement with the hope that congress takes it's time and gets this right...

Thursday October 22, 2009, 3:17 am
I will begin posting information on this legislation and the Investors Protection Act of 2009 in the business section of Care2 for anyone who wants to follow the internals of what congress is actually doing. Two articles on the Investors Protection Act of 2009 are already on Care2. I wrote both of them for the Examiner online.

The initial drafts of the IPA were really bad. Congress, under pressure from several groups who have the consumers interest first, has delayed the bill to work on the definition of fiduciary that the bill contains. I am hopeful that by taking the time to examine what has been done in the past and the potential impact of what their bill will do, that they will ultimately get it right. The initial draft could have easily been called, the Brokers Protection Act....

Thursday October 22, 2009, 7:57 am
please the premise that educated, responsible adults can't read and analyize a contract to purchase property is ridiculous. When do we stop the cycle of victimism and nannyism? Nobody forced peoples writing hand down to those closeing papers. Remember when Bill Clinton passed legislation to increase home ownership { worthy goal}, then allowed mortgage oversight to be diluted? The, human nature set in and people lived beyond their means. We basicly need to stop Congress from receiving huge campaaign contributions from these special, special interests. AKA the 2 headed snake {Democrats and Republicans].

Thursday October 22, 2009, 8:15 am
Mitch, philosophically I hear you, but I don't know any non-financial professional who can explain the fees associated with Variable Annuities, Equity Index Annuities, all share classes of Mutual Funds, etc. Most professionals don't understand hedge funds and derivatives. All of these are currently offered with a dizzying array of confusing disclosures from a hodge podge of regulations. The gov't should clean some of this up, but if you are thinking that this act and other things that congress is doing are unlikely to clean anything up, then we agree...

Thursday October 22, 2009, 1:55 pm
Done...hopefully it will not be just an inventory for complaints as is the FTC. We need an organization that will physically work to assist the consumer and come down hard on the con artist and theives. Even now we have the slimmy underbelly of the financial arena pulling scams on the consumer that's already in trouble and can least afford it. I have my doubts...in my 50+ years no one is there for the consumer. We're out here on our own.

Thursday October 22, 2009, 3:25 pm
Signed and noted.

Friday October 23, 2009, 10:29 am
Pam M, couldn' have said it better myself!

"I have my doubts...in my 50+ years no one is there for the consumer. We're out here on our own." Well, except in my case it would be almost 50 years...:-)

Friday October 23, 2009, 1:55 pm
Bernake urges to overhauling the nation's financial regulatory system, which is more than necessary, actually is a must, despite stimulus and other measures are being taken, we need to avoid making the same mistakes.

Craig
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