Great Scott! Massachusetts Senate upset could kill financial reform
Scott Brown’s astonishing upset in the
Massachusetts Senate race has Democrats aghast, wondering how in the world did
a Democratic bastion fall into the hands of the Republican Party. Now that the
Democrats have lost their super majority in the Senate, several crucial bills
are at stake.
As a result of the Democratic debacle,
political pundits have focused on the likely and immediate demise of health
care legislation, the controversial bill that pushed Brown to victory. However, few pundits are discussing the
possibility that financial reform could face a similar fate.
Ahead of the talking heads, President
Obama wasted no time switching focus from health care reform to the economy. On Tuesday he met with Senator Christopher
Dodd, chairman of the Senate Banking Committee. During the meeting, Mr. Obama rallied
congressional leaders around his plan to create the Consumer Financial
Protection Agency (CFPA), a new regulatory institution that would help to
prevent abusive financial practices.
Meanwhile, consumer advocates who strongly support the new agency
are anxiously ramping up efforts to lobby hard for financial reform. Emboldened
by Brown’s victory, Republican opposition will be especially difficult to
overcome, let alone to work with to finalize an effective, bipartisan agreement.
Just when things seemed bright for comprehensive financial reform, Democrats got a Brown out.
Greetings! I’m Kevin D. Johnson, a business owner who has recently assumed the role of consumer advocate and internet activist. Atlanta, Georgia is my home.
Upon returning from my wonderful honeymoon in Jamaica in October 2008, I received what I thought was an ordinary American Express bill, but to my surprise it was a disappointing letter informing me that my credit line was reduced by about 65% for a highly suspicious and discriminatory reason. Considering my excellent credit score and pristine payment history, it just didn’t make sense. However, what does make sense are the unfair and insidious policies that I have uncovered when asking why. It is time to change them.
I created this web site to document and share my challenging journey to change what is wrong, unfair, and unjust in the credit card industry. The ultimate goal of this web site is to inform consumers of ways to stand up for themselves against treacherous business practices and to educate consumers about how to improve their credit. Finally, I hope to encourage a more open dialogue with credit card companies about their policies–good and bad.
I am proud to say that this blog's unyielding demand for change led to an important 
HOW DID THE DEMS SLEEP ON THIS!? THEY GOT CAUGHT WITH YOUR THEIR PANTS ON THE GROUND.
Posted by: FLEECED | January 22, 2010 at 08:14 AM