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Consumers' Big Brother

Recorded on January 6, 2012

From The Heritage Foundation, I'm Ernest Istook.

To hear liberals describe it, we are all helpless consumers who need more big government to save us from wicked corporations.

So who then will protect us from big government?

President Obama is touting the new Consumer Financial Protection Bureau—our Big Brother--as an unselfish group of bureaucrats who will make life better by controlling how companies deal with consumers. We’re talking credit cards, debit cards, mortgages, student loans, savings accounts, checking accounts, and more. The agency has enormous power, but almost no accountability.

Obama brags that the new agency will be independent of Congress. They even get money automatically to grow into a giant agency, and Congress is prohibited from controlling their spending. That's another way of saying the Consumer Bureau is accountable to nobody, except their loyalty to the President who has picked a director without even getting Senate approval.

This is big government gone wild.

From The Heritage Foundation, I'm Ernest Istook.