How nice.  The U.S. Senate couldn’t get an amendment through to add an exemption to the new banking and consumer loan regulations (as did the House of Representatives), so instead they cast a “nobody will notice this” vote later to allow their negotiators to include it when the bill is reconciled with the House version.  Sneaky.

The exemption means that automobile dealers and lenders will not be required to conform to the new consumer protections that banks will be with the new financial regulations that will likely be sent to Obama for a signature before long.

While I really don’t care whether they pass this regulation or not, I do care that their rhetoric is not standing up to reality.  (As per usual.)

Supposedly, we need these financial regulations to “change the system that worked better for banks on Wall Street than it did for families on Main Street.”  Nevermind it was the pillow talk between two lovers, Government and Wall Street, that caused all of these problems to start with.  This is just another instance of the government stepping in to fix a problem that they, themselves, created to start with.

At any rate, Consumer Reports broke the story and I synopsized it (without the political rhetoric) at FutureCars.  That’s all I have to say about that.

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