This kind of thing is driving the Democrats and Obama crazy. Republicans on the senate Banking Committee have dug in their heels on the creation of a "consumer protection agency" that many feel would make credit harder to get and place unreasonable burdens on financial services companies.Sewell Chain writing in the New York Times: "I fully support enhancing both consumer protection and safety and soundness regulation," Mr. Shelby said. "I will not support a bill that enhances one at the expense of the other, however. In order to strike the appropriate balance they must be integrated with each other, not separated from each other."President Obama put forward a package of regulatory changes last June, and the House passed a sweeping overhaul in December, largely along partisan lines.The House bill would, among other things, create a council of regulators to oversee systemic risk, establish a process for dissolving large institutions without requiring...(Read Full Post)