It's being replayed on CSPAN 2 right now. The Repubs were going on and on in the derivatives markup hearing about how "regulation was destroying the American dream," and no Dem was really calling them on it. Finally, right about at the end of the whole day of hearings, Brad Miller took a few minutes to nail them. I'm so glad it was picked up in the national press. He's very genteel and thus I think his polite-yet-acerbic confrontational style is often lost in the noise.
UPDATE: Debate On Consumer Agency Begins On Contentious NoteBy Jessica Holzer and Sarah N. Lynch Of DOW JONES NEWSWIRES WASHINGTON -(Dow Jones)- Debate on a measure to create a Consumer Financial Protection Agency began on a contentious note Wednesday, with House Republicans blasting the proposal as an overreach of government power.
The legislation would create a "grand, new, large draconian federal agency with new sweeping powers" that could regulate up to 15% of the economy, Rep. Jeb Hensarling, R-Texas, argued in remarks before the House Financial Services Committee.
Meanwhile, Rep. Brad Miller, D-N.C., took aim at Republican claims that the agency would limit consumer choice, saying the financial-services industry had cheated middle-class Americans over and over again.
"They don't cherish the right to pay interest on credit-card balances after they've already paid them off anymore than Americans a century ago cherished the right to buy rancid beef," he said.
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