No surprise here people, Ron Paul hates a government agency.
In his latest ‘Texas Straight Talk’ address, the Congressman went off on the new Consumer Financial Protection Bureau, call ling it “unconstitutional” and saying that it would “only expose consumers to more financial harm…by encouraging them to use only products that have been approved by the bureau.”
You can listen to him talk about it below. His point is that people will trust the CFPB and then neglect to do their own diligence when considering financial products.
If you follow his argument, though, for this to make a negative impact people would have to have done their due diligence before the CFPB started.