It turns out a little discussed part of the Consumer Financial Protection Agency implementation, and the changes to the FTC that are a part of that, are greatly expanded powers for the Federal Trade Commission.
The commission, which has power only over non-depository institutions, like non-bank lenders and debt collectors, has been criticized for years for weak regulation.As usual, we are getting no concrete facts as to why they need these expanded powers or what they will do with them once they have been so ordained. Essentially they would like more powers to be more powerful and enact their dictatorial rule faster....possibly at the speed of light. I cannot write often enough how scary these power grabs are. It is imperative folks understand what is happening to our country.
As part of its effort to revamp financial regulations, the Obama administration backs boosting the power of the commission.
“The current rulemaking procedures … are complex, cumbersome and time-consuming, resulting in rulemaking proceedings lasting many years,” Jon Leibowitz, chairman of the FTC, said in February. The commission said the process of writing rules has sometimes taken eight to 10 years.
Just remember as they make our lives better and foist their will on us, they erode your freedoms further and further. Once those freedoms are gone we may never get them back and if we do the price we will pay could be exponentially high. Don't ever forget what it took to get them in the first place.