Ron Paul's Texas Straight Talk 2/6/12: The CFPB: A Bureaucratic Disaster in the Making

Search out "Who owns the Federal Reserve?"

Almost all legislation is for the consolidation of power into the hands of a few elite corporations and banks... the private shareholders of the Federal Reserve Bank.

"Competition is a sin." -John D. Rockefeller

Compliance costs kill off the small independent competitors.

in this broadcast is true. I worked in the financial markets for over thirty years and these government agencies only protect the interests of the big players not the public.

It sounds good politically and it will gain public support because people do not see beyond the surface narrative. In practice it will indeed destroy competition and further slow what is left of the free market. There were abuses in the mortgage market but they were created by the big investment banks who employed arms length agencies to push the lending while they packaged it and sold it on with triple A ratings to pension funds and foreign banks.

The damaging practices were employed at the retail level of course but they would have been impossible without the impetus of the big banks who set up the MERS and the MBS. It is the big guys who are using fraud now to enforce their claims on mortgaged property. It is a certainty that as in the past only the little guys will be punished and the big fish will go free.

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http://reversemortgagedaily.com/2012/02/06/cfpb-begins-mortg...

Lenders and banks are already prepping for the audits.

beat down goes on.