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Politics : Ask Michael Burke
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To: Knighty Tin who wrote (112277)3/17/2008 9:08:35 PM
From: GuinnessGuy  Read Replies (4) of 132070
 
Mike,

Thanks for the reply. I don't follow the pundits so this was the first time I'd come across this guy. But one thing really bugs me is whether or not it is true that the feds applied some sort of pre-emptive actions forcing the states not to apply their predatory lending laws.

"Instead of regulating the banks that had run amok, Bush’s regulators went on the warpath against Spitzer and states attempting to stop predatory practices. Making an unprecedented use of the legal power of “federal pre-emption,” Bush-bots ordered the states to NOT enforce their consumer protection laws."

If he's right on his facts, this is huge. And it would not seem to be so farfetched considering what we saw recently with the fed telling California that they can't make their own laws dictating automobile mileage averages.

Craig
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