Capitulation: 2 Already Weak Bills + Lobbyists = Weaker Bill

Today in DC: House Financial Services Committee Chair, Barney Frank whose financial 'reform' bill would have created a new Consumer Financial Protection Agency as an independent body, agreed to have it housed within the Fed as per Senate Banking Chair, Chris Dodd's bill instead. Aside from the ridiculousness of giving the Fed any extra influence over anything, and fact that the CFPA is already losing against bank lobbyists pre-inception, this shows that in the battle of weak bank regulations, the weakest always wins.