So, now the Federal Government is going to have two-consumer agencies, which I suppose is fine, but it does say something about the lack of confidence of the Congress in the Federal Trade Commission. Also the Senators didn’t seem to hesitate either in forming this new agency when they signed the new financial banking bill, in fact both legislative groups seemed to have more confidence in Congresswoman Waters, and Senator Charles Rangel than the FTC.
But, I ask, why all the discontent over the FTC, after all it is a very small agency, which is part of the Justice Department, and although they work very hard to PR their strength, most is posturing and bullying businesses to fall in-line with their latest socialist trends against free-enterprise [in my opinion]. Still, this is nothing new, as the FTC has been the same for many decades through several administrations.
In studying this agency, one could say, and I do, that their bark is worse than their bite, and their MO is to use legal maneuvering and trickery in their cases and make examples out of various business to prove to the Congress that they are doing something, and to consumers that they are attempting to protect them. In my view the FTC spends a lot more time assisting political interests, and competitors of the companies they hunt down, than anything else. That has been my experience and it is MY OPINION.
Now then, “Did the Federal Trade Commission Just Get Demoted When We Were Not Looking?” Did the FTC become the red-headed step-child? Why didn’t Congress just assign these new rules on banking, consumer credit, and lending onto the Federal Trade Commission, and why did they feel it necessary to start a whole new agency from scratch, which could take a year or two to even become effect or able to take on any big cases against big banks with massive armies of lawyers?
There must be some very high-ranking Senators and Congresspersons who have even less respect for the FTC than I have, but that hardly even seems remotely possible, so what happened? And if the Congress is so upset with the FTC, then de-fund them to cut Federal Budget Costs and use that money to promote job growth. That’s the way I see it, and so, I’d hope you’d take all this into consideration and spend some time to think on it.