Presidential Proclamation: April 2012 is Financial Literacy Month!

Posted on April 3, 2012

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Though we know that it should really be Financial Literacy Lifetime, this is undoubtedly a proper start for a country that has 115% Debt to GDP and an average of $15,000 credit card debt per person (not the worst in the world, mind you!).  On another page, I posted some US government sponsored free resources and lessons issued for this event, to start learning concepts that matter to you.

In Barack Obama’s proclamation that April 2012 is to be Financial Capability Month, he cites the recent appointment of Richard Cordray to head the 1-year-old  Consumer Finance Protection Bureau (CFPB).  Mr. Cordray, as the former attorney general of Ohio (Democrat), took several huge Wall St. firms to court over the issue of duping consumers, resulting in billion-dollar settlements in some cases.  Since his January 2012 appointment to the CFRB, several in-bed-with-big-business Republican congress people have complained that Obama went over congress’ heads (while they were in recess) and named him to this post, which was an abuse of executive power.  However, Cordray supporters say that technically, congress wasn’t in recess after all and that actually, there are many Wall St. lobbyists who would like to further delay the search for a CFRB head so that it wouldn’t have any power to do its work of protecting consumers against big business (i.e. lobby money working hard to keep you ignorant and any of your protectors impotent).

But now, with a head, and several approaches launched to encourage financial education, let’s see where this can go:

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