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Parker: Consumer Financial Protection Gone Awry




By Star Parker - 

The crises of recent years tend to erase from memory those that preceded them.

One, as you may recall, was the financial collapse of 2008 — a collapse deemed by many as the worst since the Great Depression.

That collapse swept into power a government like the one we have now — the White House and both houses of Congress controlled by Democrats.

Newly elected President Barack Obama appointed then-Rep. Rahm Emanuel as his chief of staff, who made popular the saying, “Never let a serious crisis go to waste.”

Indeed, the new Democrat administration followed this advice and used the financial crisis as an opportunity for a major expansion of government.

Democrats wasted no time to ascribe the financial collapse to business greed and insufficient regulation of banks and other financial institutions. In 2010, the 2,300-page Dodd-Frank Act was passed — with no Republican votes in the House and three in the Senate — adding 400 new regulations on financial institutions.



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