Consumer Law

Dishonest Ad Attacks CFPA Bill

By Jeff Sovern

by Jeff Sovern

Ed Mierzwinski of the excellent US PIRG Consumer Blog has a mind-boggling piece in the Huffington Post about an ad opposing the financial regulatory bill the House passed in December that would, among other things, create a Consumer Financial Protection Agency.  The ad, which purports to be made by the Committee for Truth in Politics is so dishonest that I hope it's a spoof.  It claims that the bill would provide for a $4 trillion bailout to banks.  In fact, as explained by the Annenberg Public Policy Center's Fact checkers, the bill would limit the Fed's existing unlimited authority to $4 trillion.  Is broadcasting lies the best opponents of the CFPA can do?

Full post as published by CL&P Blog on February 12, 2010 (boomark / email).