Director of Ocean State Action, Peter Asen, brings this to our attention. Director Ron Howard and the Funny or Die people have brought together the old SNL crew of presidential impersonators to bring attention to some urgently needed legislation.
Hollywood isn’t generally known for precisely timed or well-defined campaigns aimed at specific legislative language as bills move through Congress. But the clip, directed by Ron Howard and written by Adam McKay and Al Jean, was produced in coordination with Americans for Financial Reform, a major pro-reform coalition based in Washington, and it hits just as Senate negotiators work toward a compromise on the CFPA in the Banking Committee.
This “compromise”, or castration, backed by Senate Republicans as well as nominal Democrat Connecticut Senator Dodd (who seems determined to end his career in complete ignominy), would fold the agency tasked with regulation into the Federal Reserve. Senator Barney Frank thinks this is “crazy” as The Fed already has regulatory powers but seems loath to use them. For more and to view clip go to HuffPo. (You would think Obama, or at least Michelle, would be getting tired of everyone talking about his balls all the time. We know you have ’em B.)
Rhode Islanders should call Senator Reed and let him know that this banker-supported compromise is unacceptable. The regulatory agency must be independent.
Call Senator Jack Reed at 866.544.7573 and urge him to support the Consumer Financial Protection Agency.