Every living cast member of Saturday Night Live who played one of the US Presidents appeared in a video directed by Ron Howard, urging President Obama (in this case Fred Armisen) to push for a standalone Consumer Financial Protection Agency. Howard replaced the late Phil Hartman, who portrayed Ronald Reagan on SNL, with Jim Carrey.
This is a difficult time for the CFPA, which may get sited inside the Federal Reserve, the body that had consumer financial protection responsibility already and ignored that mandate consistently over the years. While some see this as a breakthrough, House and Senate Democrats reacted unfavorably to the CFPA-to-the-Fed plan, which as Harold Meyerson notes today “could be like putting the Food and Drug Administration inside, say, Pfizer.”
As the banks continue to own Washington, this effort is designed to raise awareness to a broader audience about the obscure CFPA policy. The end of the video pushes to a website for the Main Street Brigade, and urges viewers to contact their Senators. Americans for Financial Reform, a coalition not unlike what HCAN is to the health care debate, helped with the video.
In the sketch, Barack Obama (Fred Armisen) is visited by George W. Bush (Will Ferrell), Bill Clinton (Darrell Hammond), George H.W. Bush (Dana Carvey), Reagan (Carrey), Jimmy Carter (Dan Aykroyd) and Gerald Ford (Chevy Chase), all of whom implore him to pass an independent agency that would protect consumers from predatory activities on banking, mortgages and credit cards.
Former SNL writer Adam McKay and Simpsons writer Al Jean penned the script.
[Ed. Note: Lisa has more at La Figa.]