Quote of the Day: Fed or Zoo?
In today's New York Times, John Taylor, president and CEO of the National Community Reinvestment Coalition, blasts the latest iteration of a consumer-protection agency to emerge from the Senate banking committee's closed-door financial-reform negotiations—namely, a consumer agency housed within the Fed. A vocal critic of the Fed for its failure to police banks under its purview and for its utter lack of regard for protecting consumers, Taylor had this to say when asked where he'd rather see a consumer-protection agency housed:
I'd take the National Zoo over these guys. This is a place to bury it, or at least make it ineffective.