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	<title>Comments on: Interest Group Capture of the Proposed Consumer Financial Protection Agency</title>
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	<link>http://volokh.com/2009/11/01/interest-group-capture-of-the-proposed-consumer-finance-protection-agency/</link>
	<description>Commentary on law, public policy, and more</description>
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		<title>By: Dotar Sojat</title>
		<link>http://volokh.com/2009/11/01/interest-group-capture-of-the-proposed-consumer-finance-protection-agency/comment-page-1/#comment-681613</link>
		<dc:creator>Dotar Sojat</dc:creator>
		<pubDate>Mon, 02 Nov 2009 14:55:25 +0000</pubDate>
		<guid isPermaLink="false">http://volokh.com/?p=20900#comment-681613</guid>
		<description>I still don&#039;t understand what the CFPA is actually supposed to do.  I&#039;m just a working stiff, but I don&#039;t see what it is supposed to mean to me.  All I see is a vehicle for extracting things from the financial sector for someone&#039;s benefit other than mine or those like me.</description>
		<content:encoded><![CDATA[<p>I still don&#8217;t understand what the CFPA is actually supposed to do.  I&#8217;m just a working stiff, but I don&#8217;t see what it is supposed to mean to me.  All I see is a vehicle for extracting things from the financial sector for someone&#8217;s benefit other than mine or those like me.</p>
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		<title>By: Tweets that mention The Volokh Conspiracy » Blog Archive » Interest Group Capture of the Proposed Consumer Financial Protection Agency -- Topsy.com</title>
		<link>http://volokh.com/2009/11/01/interest-group-capture-of-the-proposed-consumer-finance-protection-agency/comment-page-1/#comment-681577</link>
		<dc:creator>Tweets that mention The Volokh Conspiracy » Blog Archive » Interest Group Capture of the Proposed Consumer Financial Protection Agency -- Topsy.com</dc:creator>
		<pubDate>Mon, 02 Nov 2009 09:44:41 +0000</pubDate>
		<guid isPermaLink="false">http://volokh.com/?p=20900#comment-681577</guid>
		<description>[...] This post was mentioned on Twitter by Leanne Thomas and Spency Call, Matthew Lloyd. Matthew Lloyd said: The Volokh Conspiracy » Blog Archive » Interest Group Capture of ... http://bit.ly/2utxN2 [...]</description>
		<content:encoded><![CDATA[<p>[...] This post was mentioned on Twitter by Leanne Thomas and Spency Call, Matthew Lloyd. Matthew Lloyd said: The Volokh Conspiracy » Blog Archive » Interest Group Capture of &#8230; <a href="http://bit.ly/2utxN2" rel="nofollow">http://bit.ly/2utxN2</a> [...]</p>
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		<title>By: rpt</title>
		<link>http://volokh.com/2009/11/01/interest-group-capture-of-the-proposed-consumer-finance-protection-agency/comment-page-1/#comment-681529</link>
		<dc:creator>rpt</dc:creator>
		<pubDate>Mon, 02 Nov 2009 05:10:05 +0000</pubDate>
		<guid isPermaLink="false">http://volokh.com/?p=20900#comment-681529</guid>
		<description>I understand the ideological basis for this post. Unfortunately, those who believe that ACORN is a more of a risk to the financial system and have a greater chance of regulatory capture than Goldman (why would we tell the investors we are betting against them) Sachs or Citibank or B of A are simply clueless about the way things are in the real world. Argue about ideology but don&#039;t pretend it has any meaning.</description>
		<content:encoded><![CDATA[<p>I understand the ideological basis for this post. Unfortunately, those who believe that ACORN is a more of a risk to the financial system and have a greater chance of regulatory capture than Goldman (why would we tell the investors we are betting against them) Sachs or Citibank or B of A are simply clueless about the way things are in the real world. Argue about ideology but don&#8217;t pretend it has any meaning.</p>
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		<title>By: DYSPEPSIA GENERATION &#187; Blog Archive &#187; Interest Group Capture of the Proposed Consumer Financial Protection Agency</title>
		<link>http://volokh.com/2009/11/01/interest-group-capture-of-the-proposed-consumer-finance-protection-agency/comment-page-1/#comment-681479</link>
		<dc:creator>DYSPEPSIA GENERATION &#187; Blog Archive &#187; Interest Group Capture of the Proposed Consumer Financial Protection Agency</dc:creator>
		<pubDate>Mon, 02 Nov 2009 02:18:54 +0000</pubDate>
		<guid isPermaLink="false">http://volokh.com/?p=20900#comment-681479</guid>
		<description>[...] Read it. Recently, Democratic Representative Maxine Waters added an amendment to the bill establishing the CFPA that would add five seats to its powerful Oversight Board for “experts in the fields of consumer protection, fair lending and civil rights, representatives of depository institutions that primarily serve underserved communities, or representatives of communities that have been significantly impacted by higher-priced mortgage loans.” All sorts of interest group representatives could easily get on the board under this amendment. For example, pretty much any bank or credit card company official could claim to have expertise in the “fields” of “consumer protection” or “fair lending.” Similarly, many banks can easily claim to “primarily serve underserved communities.” Finally, interest group representatives could pose as “representatives of communities that have been significantly impacted by higher-priced mortgage loans.” For example, lenders and real estate developers located in such areas would surely qualify; after all, they live in the community too. The majority of the board will still be made up of various federal government officials. But these officials are far from immune from interest group pressure, and of course that lobbying will be facilitated by the fact that several interest group representatives will now be sitting on the board itself. [...]</description>
		<content:encoded><![CDATA[<p>[...] Read it. Recently, Democratic Representative Maxine Waters added an amendment to the bill establishing the CFPA that would add five seats to its powerful Oversight Board for “experts in the fields of consumer protection, fair lending and civil rights, representatives of depository institutions that primarily serve underserved communities, or representatives of communities that have been significantly impacted by higher-priced mortgage loans.” All sorts of interest group representatives could easily get on the board under this amendment. For example, pretty much any bank or credit card company official could claim to have expertise in the “fields” of “consumer protection” or “fair lending.” Similarly, many banks can easily claim to “primarily serve underserved communities.” Finally, interest group representatives could pose as “representatives of communities that have been significantly impacted by higher-priced mortgage loans.” For example, lenders and real estate developers located in such areas would surely qualify; after all, they live in the community too. The majority of the board will still be made up of various federal government officials. But these officials are far from immune from interest group pressure, and of course that lobbying will be facilitated by the fact that several interest group representatives will now be sitting on the board itself. [...]</p>
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		<title>By: ArrowSmith</title>
		<link>http://volokh.com/2009/11/01/interest-group-capture-of-the-proposed-consumer-finance-protection-agency/comment-page-1/#comment-681469</link>
		<dc:creator>ArrowSmith</dc:creator>
		<pubDate>Mon, 02 Nov 2009 01:53:09 +0000</pubDate>
		<guid isPermaLink="false">http://volokh.com/?p=20900#comment-681469</guid>
		<description>&lt;blockquote cite=&quot;comment-681453&quot;&gt;

&lt;strong&gt;&lt;a href=&quot;#comment-681453&quot; rel=&quot;nofollow&quot;&gt;MnZ&lt;/a&gt;&lt;/strong&gt;: Echoing Geokstr. I personally think the most pernicious trait of the Democratic party is their intentional structuring of programs and initiatives to entrench the political power of themselves and their supporters. Given the option between a more efficient public policy with little political entrenching and an inefficient public policy with a great deal of entrenching, Democrats always seem to choose the latter. Obviously, Republicans do it too, but Democrats are just more creative about the guises under which they do it. Moreover, Democrats are so convinced of their righteousness — that their political entrenching is viewed as public benefit.

&lt;/blockquote&gt;

As if Republicans didn&#039;t do the same thing from 2001-2006. Both political parties stand for only one thing - getting power and increasing it for themselves. The American people continue to endorse this kabuki theater.</description>
		<content:encoded><![CDATA[<blockquote cite="comment-681453">
<p><strong><a href="#comment-681453" rel="nofollow">MnZ</a></strong>: Echoing Geokstr. I personally think the most pernicious trait of the Democratic party is their intentional structuring of programs and initiatives to entrench the political power of themselves and their supporters. Given the option between a more efficient public policy with little political entrenching and an inefficient public policy with a great deal of entrenching, Democrats always seem to choose the latter. Obviously, Republicans do it too, but Democrats are just more creative about the guises under which they do it. Moreover, Democrats are so convinced of their righteousness — that their political entrenching is viewed as public benefit.</p>
</blockquote>
<p>As if Republicans didn&#8217;t do the same thing from 2001-2006. Both political parties stand for only one thing &#8211; getting power and increasing it for themselves. The American people continue to endorse this kabuki theater.</p>
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		<title>By: MnZ</title>
		<link>http://volokh.com/2009/11/01/interest-group-capture-of-the-proposed-consumer-finance-protection-agency/comment-page-1/#comment-681453</link>
		<dc:creator>MnZ</dc:creator>
		<pubDate>Mon, 02 Nov 2009 00:44:49 +0000</pubDate>
		<guid isPermaLink="false">http://volokh.com/?p=20900#comment-681453</guid>
		<description>Echoing Geokstr. I personally think the most pernicious trait of the Democratic party is their intentional structuring of programs and initiatives to entrench the political power of themselves and their supporters. Given the option between a more efficient public policy with little political entrenching and an inefficient public policy with a great deal of entrenching, Democrats always seem to choose the latter. Obviously, Republicans do it too, but Democrats are just more creative about the guises under which they do it. Moreover, Democrats are so convinced of their righteousness - that their political entrenching is viewed as public benefit.</description>
		<content:encoded><![CDATA[<p>Echoing Geokstr. I personally think the most pernicious trait of the Democratic party is their intentional structuring of programs and initiatives to entrench the political power of themselves and their supporters. Given the option between a more efficient public policy with little political entrenching and an inefficient public policy with a great deal of entrenching, Democrats always seem to choose the latter. Obviously, Republicans do it too, but Democrats are just more creative about the guises under which they do it. Moreover, Democrats are so convinced of their righteousness &#8211; that their political entrenching is viewed as public benefit.</p>
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		<title>By: geokstr</title>
		<link>http://volokh.com/2009/11/01/interest-group-capture-of-the-proposed-consumer-finance-protection-agency/comment-page-1/#comment-681424</link>
		<dc:creator>geokstr</dc:creator>
		<pubDate>Sun, 01 Nov 2009 23:33:05 +0000</pubDate>
		<guid isPermaLink="false">http://volokh.com/?p=20900#comment-681424</guid>
		<description>Many conservatives knew and warned that all the cheering when the Congress, with huge majorities including most of the Democrats, voted to supposedly &quot;defund&quot; ACORN, that this was just a chimera, nothing more than a smokescreen to give their party cover after all the negative publicity ACORN got when the &quot;watchdog media&quot; got scooped by two kids and a video camera. And given the slime that Democratic party adjunct ACORN and its slippery tentacles like the SEIU were really into for decades, this little sideshow was actually more akin to charging Capone with income tax evasion instead of the murders and other massive criminal activity he had also been guilty of.

This is just one of many, many more ways that ACORN or similar organizations with exactly the same goals and tactics will be slipped into the power structure by the Democrats. This is the hydra of the left, and will not be defeated, defanged or defunded even if the Republicans sweep everything in 2010 and 2012.</description>
		<content:encoded><![CDATA[<p>Many conservatives knew and warned that all the cheering when the Congress, with huge majorities including most of the Democrats, voted to supposedly &#8220;defund&#8221; ACORN, that this was just a chimera, nothing more than a smokescreen to give their party cover after all the negative publicity ACORN got when the &#8220;watchdog media&#8221; got scooped by two kids and a video camera. And given the slime that Democratic party adjunct ACORN and its slippery tentacles like the SEIU were really into for decades, this little sideshow was actually more akin to charging Capone with income tax evasion instead of the murders and other massive criminal activity he had also been guilty of.</p>
<p>This is just one of many, many more ways that ACORN or similar organizations with exactly the same goals and tactics will be slipped into the power structure by the Democrats. This is the hydra of the left, and will not be defeated, defanged or defunded even if the Republicans sweep everything in 2010 and 2012.</p>
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		<title>By: ricky</title>
		<link>http://volokh.com/2009/11/01/interest-group-capture-of-the-proposed-consumer-finance-protection-agency/comment-page-1/#comment-681422</link>
		<dc:creator>ricky</dc:creator>
		<pubDate>Sun, 01 Nov 2009 23:28:52 +0000</pubDate>
		<guid isPermaLink="false">http://volokh.com/?p=20900#comment-681422</guid>
		<description>&quot;Underserved&quot; is obviously a typo.  I&#039;m sure she meant &quot;undeserving&quot;.</description>
		<content:encoded><![CDATA[<p>&#8220;Underserved&#8221; is obviously a typo.  I&#8217;m sure she meant &#8220;undeserving&#8221;.</p>
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		<title>By: Ilya Somin</title>
		<link>http://volokh.com/2009/11/01/interest-group-capture-of-the-proposed-consumer-finance-protection-agency/comment-page-1/#comment-681411</link>
		<dc:creator>Ilya Somin</dc:creator>
		<pubDate>Sun, 01 Nov 2009 22:58:30 +0000</pubDate>
		<guid isPermaLink="false">http://volokh.com/?p=20900#comment-681411</guid>
		<description>&lt;em&gt;Of course, the administration would simply allow the appointment of someone whose ACORN affiliation is unknown or obscured.&lt;/em&gt;

That&#039;s certainly possible. But Fox and other conservative media would try hard to ferret out any such ACORN affiliation, since it would be a great ratings boost for them. On the other hand, affiliation with a less-notorious group is less likely to attract their attention, or that of voters.</description>
		<content:encoded><![CDATA[<p><em>Of course, the administration would simply allow the appointment of someone whose ACORN affiliation is unknown or obscured.</em></p>
<p>That&#8217;s certainly possible. But Fox and other conservative media would try hard to ferret out any such ACORN affiliation, since it would be a great ratings boost for them. On the other hand, affiliation with a less-notorious group is less likely to attract their attention, or that of voters.</p>
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		<title>By: mariner</title>
		<link>http://volokh.com/2009/11/01/interest-group-capture-of-the-proposed-consumer-finance-protection-agency/comment-page-1/#comment-681402</link>
		<dc:creator>mariner</dc:creator>
		<pubDate>Sun, 01 Nov 2009 22:25:46 +0000</pubDate>
		<guid isPermaLink="false">http://volokh.com/?p=20900#comment-681402</guid>
		<description>&lt;blockquote&gt;Indeed, ACORN’s notoriety makes it less dangerous than many of the other groups that could potentially capture the CFPA. Any effort to put ACORN representatives on the board would likely result in lots of negative publicity; for that reason, I doubt that the administration would let it happen.&lt;/blockquote&gt;
Of course, the administration would simply allow the appointment of someone whose ACORN affiliation is unknown or obscured.</description>
		<content:encoded><![CDATA[<blockquote><p>Indeed, ACORN’s notoriety makes it less dangerous than many of the other groups that could potentially capture the CFPA. Any effort to put ACORN representatives on the board would likely result in lots of negative publicity; for that reason, I doubt that the administration would let it happen.</p></blockquote>
<p>Of course, the administration would simply allow the appointment of someone whose ACORN affiliation is unknown or obscured.</p>
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