Party of No opposes Consumer Protection Agency

One of the major fall-outs from the recent economic collapse was a growing distinction between Wall Street and Main Street. The former received hundreds of billions of dollars in bailout money, loans, and incentives to stay afloat. The latter received foreclosures on their homes, jacked up credit card fees, a drying up of bank loans, and scant talk of any new protections from the kinds of business practices which contributed to this problem in the first place.

In short, it was once again socialism for the rich, and capitalism for the poor.

With health care reform debate now winding down and spent political capital showing some returns in the form of imminent passage of a bill, renewed attention is being paid to the creation of an independent consumer protection agency. Such an agency would be tasked with monitoring and regulating business practices which directly impact the consumer. In short, it would be the neighborhood watch for Main Street.

This seems like a no-brainer. It’s doing exactly what government should do in looking out for and protecting its citizens. It’s fulfilling the Constitutional mandate on the Congress to regulate commerce. There should really be no debate at all about it, given the recent shafting of average consumers.

Yet, the Republicans are lining up against it already. Their opposition is centered around the very thing which would make such an agency effective in any way: independence. They fear anything which in any way might curtail business from doing anything it wants, hence their inclusion of the EPA boogeyman.

They aren’t hiding behind bushes on this one. They are pretty clearly out in front, making it known where their priorities are: "That doesn't mean we're opposed to consumer protection, but a single agency whose sole purpose is consumer protection would be really bad news," - Sen. Robert Bennett, Republican from Utah.

Republicans aren’t opposed to a ceremonial and politically easy consumer agency. They are opposed to an agency with actual teeth and power to protect consumers at any perceived cost to the total freedom of business.