July 18th, 2011
06:00 PM ET

Letters to the President: #910 'Consumer protection'

Reporter's Note: President Obama is still dealing with the debt crisis, while trying to tackle other matters as well. So am I.

Dear Mr. President,

Tough luck on that Women’s World Cup game. I saw that picture of you and the family watching the game. (At least, the caption said that’s what you were watching. It could have been Secret Life of the American Teen for all I know.) Hope it didn’t ruin your Sunday.

The team did a pretty respectable job as far as I could tell. I didn’t see any obvious collapses in their strategy, and they certainly seemed to be trying hard enough. For most of the game they even looked as if they were dominating, at least by a little bit. But then it came down to the finish and Japan emerged victorious.

Ah well. These things happen.

Speaking of things happening, I notice that you finally selected someone to head that new consumer protection office. Richard Cordray? Can’t say that I have met him, although I saw the picture and he looks suspiciously like a guy who cut me off in traffic a few weeks back. Ask him if he drives on Massachusetts Avenue a lot, ok?

FYI, I won’t make a fuss even if it was him, because frankly I imagine he’s going to have his hands full. The whole idea of someone - even a whole agency - protecting consumers from the various schemes of the financial industry is a tall order. I don’t mean to impugn the whole trade, but even the companies that appear to be shooting straight seem to have so many caveats and exceptions that you can never keep up with them.

I’ll wish you well with the whole endeavor, but for my part I just assume these days that the fine print in anything I sign says something like, “When in doubt, we win; you lose.”

Call if you get a moment.


Follow Tom on Twitter @tomforemancnn.

Find more of the Foreman Letters here.

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Filed under: Letters to the President • Opinion • President Barack Obama • T1
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