Wednesday, February 16, 2011, 3:42 PM

Not So Fast: Today's Post Part Deux

Posted by: Chris Jones

It seems that Elizabeth Warren too has also noted all the budget talk this week, and has taken particular umbrage to some talk out of House Members of revamping Dodd-Frank so as to move the Consumer Finance Protection Bureau into Treasury and thereby avoid the pesky problem of its independence and untouchable Federal Reserve based funding.

Our take: This was destined to be discussed, especially when microphones are in the vicinity, but what is being discussed is not a tweak so much as a fundamental change to the law that would require approval in the House AND Senate. Moreover, the President would have to approve. Now, the House has spent time this year reading the Constitution aloud and voting to repeal the health care law, so who knows what it may do, but the Senate and White House? Uh, not so much.


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