As political wrangling over financial services reform continues, the creation of an independent CFPA remains a major bone of contention. A number of compromise proposals have been bruited: creating an independent bureau in Treasury, vesting the power in the Fed, vesting the power in the FDIC, or vesting the power in the FTC. Some proponents for stronger consumer protection in financial view a compromise as acceptable on the theory that half a loaf is a better than none at all. It's not.

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Half a (Rotten) Loaf is Worse Than None at All: The Fate of the CFPA

The best thing about tight deadlines is the moment they finally come to an end.