hard time marshalling criticisms against him. as you know, republican attorney generals have supported him. he has a tremendous record as attorney general of ohio. so i think this is really a philosophical debate the republicans are having. and it s so wrong headed in terms of the lessons we ve just learned. if there s one thing we should have learned from this financial crisis is you do not want to have financial supervision where a whole host of institutions that are dealing with average people have a hole where they don t have supervision. that s exactly what they re doing. the way the law was created is our new consumer watchdog cannot regulate so-called nonbank institutions. meaning payday lenders, credit institutions, debt collectors. they cannot regulte or supervise any of them until there is a director. so every day they hold this up, even while small community banks are playing by the rules, you ve got a so-called installment
attorney general of ohio. so i think this is really a philosophical debate the republicans are having. and it s so wrong headed in terms of the lessons we ve just learned. if there s one thing we should have learned from this financial crisis is you do not want to have financial supervision where a whole host of institutions that are dealing with average people have a hole where they don t have supervision. that s exactly what they re doing. the way the law was created is our new consumer watchdog cannot regulate so-called nonbank institutions. meaning payday lenders, credit institutions, debt collectors. they cannot regulate or supervise any of them until there is a director. so every day they hold this up, even while small community banks are playing by the rules, you ve got a so-called installment lenders preying on the families of veterans, charging them, seriously, 300% interest rates over a year. and we cannot do anything about