Infinite Wisdom of the Politicians

Senator Charles Schumer from New York wants to merge the Office of the Comptroller of the Currency(OCC) and the Office of Thrift Supervision(OTS) into one bank regulatory agency and give this entity the sole responsibility of examining all of the nation's banks. This has to be a joke or he is an idiot.

Who was responsible for examining Bank America, Citigroup, Wachovia? The OCC.  Who was responsible for examining Washington Mutual, Indy Mac, Superior Bank, Country Wide, AIG, Golden State. The OTS.  

What do all these banks have in common; they either failed or required massive government government intervention in the form of government bailout (TARP) money to survive.  The politicians want more power placed in the Treasury to consolidate their power. Why do they want power( greed, money to finance their political campaigns, a way to retire wealthy at tax payers expense.

The last thing the american citizens need is more power in the hands of this administration or another one like Bush 43".

The FRB is independent of the administration as is the FDIC.  We need to keep it that way.  The politicos are responsible for the massive financial failures in our banks; they enabled the banks to fail through bad legislation.

The politicians always want to blame someone else for their blatant acceptance of the big banks requests for more powers, less consumer protection, and more risk and payoff.  

Schumer, Phil Graham, are stooges for the big financial institutions that is costing the taxpayers and the future taxpayers billions, trillions of dollars.  Geithner even evaded paying taxers like many of the "best and brighest" in Washington DC.  

Do you need any more information in order for you to write your senator or congressman to tell them you want independent bank regulators, not stooges for the politicians in office.