Americans for Financial Reform
plan to gather today in support of President Barack Obama's proposed Consumer Financial Protection Agency.
Like the Consumer Protection Agency, which safeguards people from hazardous product flaws involving housewares and other merchandise, the Consumer Financial Protection Agency
would be designed to protect individuals from risky, unscrupulouis financial investments.
Demonstrators plan to gather in less than an hour (12 noon) in front of the Wells Fargo Icampus (formerly AG Edwards) at Jefferson and Market streets downtown. (Yes, sorry for the late notice but we've been inundated here with press releases regarding today's All-Star Game
and just now came across the notice about today's rally.)
Says organizer Glenn
"When you buy a microwave oven or a toy for your
child, you have the security of knowing that someone has checked to make sure
those products are not going to explode in your face. We need the same security
when we sign on the bottom line for a loan or a credit card.
"For too long, the rules have been written and enforced for Wall
Street, by Wall Street. Now groups funded by AIG and others are spending
billions of dollars on a massive public relations and media campaign to keep things
exactly the way they are. It's time for the Big Banks and brokers to call
off the dogs and stop blocking real protection for ordinary Americans."