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April 9, 2014

Jonathan Tobin: Why Did Kerry Lie About Israeli Blame?

Samuel G. Freedman: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Jessica Ivins: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Kim Giles: Asking for help is not weakness

Kathy Kristof and Barbara Hoch Marcus: 7 Great Growth Israeli Stocks

Matthew Mientka: How Beans, Peas, And Chickpeas Cleanse Bad Cholesterol and Lowers Risk of Heart Disease

Sabrina Bachai: 5 At-Home Treatments For Headaches

The Kosher Gourmet by Daniel Neman Have yourself a matzo ball: The secrets bubby never told you and recipes she could have never imagined

April 8, 2014

Lori Nawyn: At Your Wit's End and Back: Finding Peace

Susan B. Garland and Rachel L. Sheedy: Strategies Married Couples Can Use to Boost Benefits

David Muhlbaum: Smart Tax Deductions Non-Itemizers Can Claim

Jill Weisenberger, M.S., R.D.N., C.D.E : Before You Lose Your Mental Edge

Dana Dovey: Coffee Drinkers Rejoice! Your Cup Of Joe Can Prevent Death From Liver Disease

Chris Weller: Electric 'Thinking Cap' Puts Your Brain Power Into High Gear

The Kosher Gourmet by Marlene Parrish A gift of hazelnuts keeps giving --- for a variety of nutty recipes: Entree, side, soup, dessert

April 4, 2014

Rabbi David Gutterman: The Word for Nothing Means Everything

Charles Krauthammer: Kerry's folly, Chapter 3

Amy Peterson: A life of love: How to build lasting relationships with your children

John Ericson: Older Women: Save Your Heart, Prevent Stroke Don't Drink Diet

John Ericson: Why 50 million Americans will still have spring allergies after taking meds

Cameron Huddleston: Best and Worst Buys of April 2014

Stacy Rapacon: Great Mutual Funds for Young Investors

Sarah Boesveld: Teacher keeps promise to mail thousands of former students letters written by their past selves

The Kosher Gourmet by Sharon Thompson Anyone can make a salad, you say. But can they make a great salad? (SECRETS, TESTED TECHNIQUES + 4 RECIPES, INCLUDING DRESSINGS)

April 2, 2014

Paul Greenberg: Death and joy in the spring

Dan Barry: Should South Carolina Jews be forced to maintain this chimney built by Germans serving the Nazis?

Mayra Bitsko: Save me! An alien took over my child's personality

Frank Clayton: Get happy: 20 scientifically proven happiness activities

Susan Scutti: It's Genetic! Obesity and the 'Carb Breakdown' Gene

Lecia Bushak: Why Hand Sanitizer May Actually Harm Your Health

Stacy Rapacon: Great Funds You Can Own for $500 or Less

Cameron Huddleston: 7 Ways to Save on Home Decor

The Kosher Gourmet by Steve Petusevsky Exploring ingredients as edible-stuffed containers (TWO RECIPES + TIPS & TECHINQUES)

Jewish World Review April 27, 2010 / 13 Iyar 5770

The consumer frustration and punishment agency (CFPA)

By Dick Morris & Eileen Mc Gann




http://www.JewishWorldReview.com | The financial regulation bill now hurtling through Congress sets up a Consumer Financial Protection Agency (CFPA) to police lending in America. And, as usual, the liberals have fouled it up.

California Republican Congressman John Campbell (no relation to Tom) points out that the bill would "require anybody who makes a loan of any type or amount to any consumer for any reason to register with" the CFPA and get its approval for "the structure of that loan." So any bank or store or credit card company or merchant or service provider who offered credit in any form to anyone would have to get advance approval from the CFPA.

Can you imagine the bottleneck? Businesses will be waiting like planes over O'Hare Airport for permission to proceed. Business will stagnate as credit grinds to a halt. In the name of protecting consumers, the Obama Administration will strangle credit in a mass of regulation.

It is one thing to regulate banks. But to impose these requirements on any mattress store that says you don't have to make any payments for six month or which lends money to consumers is inane and insane.

Republicans are reluctant to oppose this provision because they are intimidated by the name of the agency. The "Consumer Financial Protection Agency" is quite some name and attacking it can be risky politically. (But not when people understand what it will be empowered to do). The business community is crawling all over Washington seeking not its defeat, but carves out to protect their specific business or category of enterprise from the provisions of the legislation.

Letter from JWR publisher

Fearful of antagonizing Obama and the dictatorial Democrats, they hesitate to attack the bill and just hope that they will be exempted from its provisions.

A key reason for the ongoing unemployment is that credit is scarce and, as Congressman Campbell points out, it will become more so when the Treasury pulls back the TARP money from banks, worsening their balance sheets. The CFPA will make credit tighter still.

The reach of the CFPA will be wide. The Chamber of Commerce says that it would cover "any school, business, or nonprofit organization that provides financial literacy education; any software company that creates software to help consumers manage their money; advertising and marketing companies, as long as they provide services relating to financial products and services; lawyers; print and electronic media businesses; and utility companies, doctors, retailers and any other business that extends credit…"

And the legislation gives the agency authority over and "liability exposure to shareholders, directors, officers and even employees of covered institutions."

When the powers of the CFPA are added to the power to seize any bank or nonbank financial institution (discussed in a recent column) this bill is truly a giant leap toward socialism perhaps even more disturbing than the health care bill's embrace of socialized medicine.

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