Consumer Product Safety Commission

Jeff Davis publishes and edits Transportation Weekly Even if the Senate GOP was not being completely obstructionist on every little procedural motion, the smart money has always been on bypassing an actual conference committee and settling health care via an exchange of amendments between the Houses for another very important reason: Democratic leaders have realized that a key feature of their big 2007 ethics bill is incredibly inconvenient. Section 511 of Public Law 110-81 (the Honest Leadership and Open Government Act of 2007) amended Senate Rule 28 (conference reports) to put in a strengthe

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There's some news buzz around Dick Durbin, Ted Kennedy, and Chuck Schumer's proposal, introduced earlier this week, to create a Financial Product Safety Commission (FPSC) that would regulate, among other things, mortgages, credit, and payday loans to "reduce [their] consumer risk." The Chicago Sun-Times even touted the commission as "Durbin's big idea." But, as Clay Risen noted this morning, the brain behind the idea is Elizabeth Warren, a Harvard professor, bankruptcy expert, and chair of the TARP Congressional Oversight Panel (COP). In her COP role, which Senate Majority Leader Harry Reid ha

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