Mark Wilson

money

Chris Dodd, chairman of the Senate Banking Committee, may drop the creation of a consumer protection agency from the banking reform bill. Many of the same regulatory powers would be given to an existing governmental body, most likely the Treasury Department. Such a compromise could expedite the passage of banking reform, but would represent a major blow to President Obama's policy agenda. Will the consumer be adequately protected from future financial calamity without a dedicated agency? Or, is a reduction in bureaucracy the consumer's best protection? Is this an important truce in advancing reform or a purely political move?

Guests:

Damian Paletta, Wall Street Journal reporter

Carmen Balber, Washington DC Director of Consumer Watchdog