U.S. Rep. Mel Watt let Federal Reserve Chairman Ben Bernanke have it today.
Bernanke was testifying about the role of the reserve in protecting consumers from abusive practices by financial institutions, the AP reports. The Fed chairman said protecting consumers was important. Watt, a Charlotte Democrat, wanted to hear more.
Bernanke touched only briefly on an Obama administration proposal to create an independent Consumer Finance Protection Agency. Some say the proposal, now being debated in the House, would reduce the Fed’s power.
That drew a rebuke from Rep. Melvin Watt, D-N.C. "Five sentences on consumer protection when everything else gets substantially more space," Watt said. "It is just not a good message to send."
Comments
As Dome Poster "cmitchz" has pointed out, Mel Watt is black.
October 4, 2009 - 1:55pm — GiggleBoxHello? What's that all about?
Was he born that way or was it a choice like being gay?
I. Am. So. Tired. Of. Crazy. People. Not. Running. Everything.
I miss the 80's when they did.
Re: Watt: Five sentences won't cut it
October 4, 2009 - 11:56am — GiggleBoxMichael Steele? Is that you?
Holla back now GOP.
Re: Watt: Five sentences won't cut it
October 3, 2009 - 11:43pm — cmitchzThat's right, Mel, what's really important is your own personal sentence quota. Hey, let's waste everyone's time by having Bernanke ramble on a little longer just to make you happy, not to actually achieve anything!
Mel is what you get with a system that forces the creation of condescending 'minority freebie districts.' You have to draw zig-zags through every ghetto in North Carolina just to find a constituency that would elect this guy.