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What do people do at Goldman Sachs all day? They prepare to work at the White House and at the U.S. Treasury Department,...
WASHINGTON-- The White House wants it. Senate leaders support it. The House has already passed it. And, in the wake of the worst financial upheaval since the Great Depression, many consumer groups and state regulators say it’s vital if the country is to avoid another economic collapse. Yet the proposal to create a new consumer financial protection agency is, for all practical purposes, dead on arrival in the Senate. Just call it the public option of the finance reform debate.