Posts Tagged ‘federal regulator’

Capitol Confidential

Finally, Some Bi-Partisanship in Washington: Why Obama Ag Official, J. Dudley Butler Should Resign

by Capitol Confidential

A few weeks ago we told you about J. Dudley Butler, the former (and future) trial lawyer who spent his career suing the very industry he has been appointed by President Obama to regulate.

He’s currently working in the Agriculture Department as Administrator of the Grain Inspection, Packers and Stockyard Administration (GIPSA) and, according to former Republican Congressman Bob Barr, “Butler is actively pushing to expand the scope of the decades-old Packers and Stockyards Act — which will make it easier for trial lawyers (such as Mr. Butler) to successfully sue meat and poultry companies.”

Last week this piece in The Daily Caller looked into the conflict of interest and concluded, “Whether or not J. Dudley Butler is implementing rules that will help him and his friends in their legal cases is something for time to judge. But the fact that he is in a position to do so, to aid his cause and line his pockets when he returns to the private sector, is enough to call for his resignation.”

Conservatives calling attention to the conflict of interest of a liberals Administration’s political appointees is not new, nor is the reverse. But this cause has been joined…

CREW, the Center for Responsibility and Ethics in Washington, the liberal government watch-dog group, has joined the fight.

In a press release Monday, CREW asked “Is a former trial lawyer turned government official making policy decisions at the Department of Agriculture that will serve his future personal financial interests?” We don’t often agree with CREW, but in this case they are correct.

(more…)

Capitol Confidential

Bailout Bill Would Require Banks to Track and Report Personal Checking Accounts to Feds

by Capitol Confidential

It’s amazing to watch the civil libertarians hide when Democrats propose the most sweeping intrusions of privacy in generations.  In addition to the litany of bad policies contained in the Dodd Financial Reform bill is this nugget on pages 1039-1040.  In short, it extends government reach to every deposit account of every citizen.

Required Acct MonitoringSubtitle G of the Dodd discussion draft bill requires that records be maintained and reported “for each branch, automated teller machine at which deposits are accepted, and other deposit taking service facility with respect to any financial institution, the financial institution shall maintain a record of the number and dollar amounts of deposit accounts of customers.”

What’s worse, banks will be required to submit these records to the new super regulatory agency called the Consumer Financial Protection Agency (page 1041).  The CFPA will be allowed to use this information for any purpose “as permitted by law” under CFPA rules—rules set by CFPA themselves.

So, lets get this straight—the law requires banks to snoop on its customers MOST PERSONAL INFORMATION and submit it to another government agency so it can be used anyway the CFPA see’s fit.

(more…)