One of the biggest areas where consumers need to be protected is how their credit card loans are treated. At a time. when the big banks are getting nearly free money from the Fed, those same banks have jacked credit card interest to over 20% on millions of people who are struggling to pay their bills. One would think that Congress would attack that problem.

Oops, I forgot. They did already, and the end result was that credit card payments went way up not down! Those same compassionate so called liberals who are “always looking out for the little guy” once again stuck it to the little guy.

And these are the same crooks and liars you want to entrust more consumer protection legislation, after this Congress and President has given billions to Soros, the Unions, ACORN and their biggest Wall Street contributors.

I wonder if a similar warning to mortgage buyers would make a difference. Suppose the sales person was required to say “the mortgage you are about to purchase can increase to $2200 per month from $1000 if you miss only one payment or that payment is late. Furthermore, you are obligated to make these payments for x number of years even if one or both signers lose his or her job, divorce, or cannot work due to illness”.

I realize that the “banking sector” is regulated. But there’s that whole “shadow banking sector” that grew up without any parental rules or involvement whatsoever – and that seems to be the area most heavily involved in the crisis.

Wondering when they’ll realize that their base has been decimated by the prevailing GOP philosophy that government is root of all evil.

Last I checked, it was the GOP who not only decided to transform a huge surplus into a massive deficit (one of the largest failed government stimulus programs ever – huge sums spent without a job created outside of Halliburton…)

And it was the GOP who decided last fall to create the largest federal intervention into the financial sector – an intervention that was essential… or else.

Regulatory oversight of the financial sector is absolutely critical – not just to protect consumers, but to protect the entire economy from catastrophic failure.

Instead of saying “no” – the GOP should be working their asses off to create regulations that diminish risk without destroying incentives to innovate.

Optimist that I am, I believe firmly such an environment can be created – but not if one party decides to remove itself completely from all thoughtful dialogue.