tag:blogger.com,1999:blog-8529580665294663953.post6032330072141813562..comments2023-10-27T04:26:57.609-07:00Comments on InvestorCentric: A Consumer Financial Protection Agency Would FailNuWire Investorhttp://www.blogger.com/profile/02512928198926080436noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-8529580665294663953.post-45623779618659305852009-09-14T13:32:45.068-07:002009-09-14T13:32:45.068-07:00Persuasive. Esp. the recognition that regulation ...Persuasive. Esp. the recognition that regulation by business type, as opposed to product type, is the fundamental flaw in our regulatory framework. That is very well-put.<br /><br />The CFPA seems a proposal in search of a reason. While inadequate intra-agency dialogue, uneven enforcement, and agency "shopping" are prevalent, the CFPA does nothing to stop these practices. More problematic is the potential interaction of the CFPA with the state regulatory bodies. Who's voice will rule? Will we be able to create a coherent national enforcement scheme given the competing industry and state voices?<br /><br /> Systemic change is necessary, not more band-aiding. Let's get serious about changing the present (short-term) incentives of the financial intermediaries rather than creating another dithering, inert agency. I greatly respect Elizabeth Warren (she's awesome) but I believe she has the wrong proposal in the CFPA.xhttps://www.blogger.com/profile/11347175233241816513noreply@blogger.com