Once again a Republican waters down a consumer protection bill. But one must wonder, how many house Republicans will actually vote for the bill once it gets to the floor vote?

The dealerships got a financial company to write the note, and that company securitized the note along with a bunch of others and sold them in pieces to other financial companies who were originating, securitizing and selling off their own junk loan portfolios as well.

And they called it diversification.

Now, apply the above problem to houses, where you can add a zero to the problem, and you end up with widespread financial collapse.

Uneducated consumers should be protected from predatory and deleterious underwriting standards or we all suffer. The powerful and intelligent do not have license to exploit or abuse the weak and stupid.

Educated consumers don’t have this problem. Uneducated consumers… nothing will fix that.

Damn, could you imagine a democrat recusing himself from a vote? How would Harry Reid exempt his own state from Medicare cuts?

I may not like them all that much, but the observations are correct that a) dealers didn’t have anything to do with the credit crisis (any more than the rest of us, that is) and b) this is needless oversight of companies individually too small to matter. Let the states regulate them – don’t give me any static about that old ho’ the Interstate Commerce Clause. Even if you think that some state oversight bureaucracies don’t do a good job, that doesn’t begin to suggest that Fed ‘crats would.