To the editor:
First and foremost I thoroughly enjoy Ms. Parker’s columns. Great work.
And, like always, she was spot on with her comments on the mischief that the Consumer Financial Protection Bureau has been involved with since its inception. It’s a tool that Washington players will use to no good whenever they can. The Massachusetts Mob headed by Barney Frank and now Elizabeth Warren know that controlling the banking system is the quickest way to control the money and control the donors.
But bankers put themselves in this position by not working together to keep government out of their businesses. Pushing up the FDIC minimum to $250,000 from $100,000 during the crisis benefitted the banks – and did they really think that Washington wasn’t going to use that against them? While Frank was using his leverage to ratchet down lending standards it was George Bush that greased the skids with his near-sighted policies designed to get everyone into a home of their own.
I agree with Ms. Parker that progressive politics are disastrous to a well functioning banking system, but it takes mixing them with fuzzy brained Republicans and glad-handed bankers to really screw things up.