by Calculated Risk on 3/09/2010 01:10:00 AM

On the debate as to where to put the Consumer Financial Protection agency, Andrew Ross Sorkin brings us this quote in the NY Times:

[Edward L. Yingling, president of the American Bankers Association] says, “We don’t care where you put it,” adding that their position has always been “we’re totally against it.”

That sure makes it clear.

Sorkin discusses the debate in So Where’s Consumer Protection?, but this one is simple - if it is not independent, don't bother. Anything else is failure.