Today President Obama announced a series of new regulations to help fix the mess created by the financial collapse. His ideas range from tougher enforcement of existing regulations to the creation of new entities to prevent recent financial history from repeating.

A key component to regulating the financial industry is a proposed Consumer Financial Protection Agency, which would help protect consumers who use products like credit cards and mortgages. The creation of such an agency could protect against irresponsible credit card marketing and subprime-style mortgages.

And of course, we learn today that the U.S. Chamber of Commerce is adamantly opposed to a consumer-friendly regulatory agency. In a lovely mixed metaphor, the U.S. Chamber dismisses the consumer protection agency as "not a silver bullet," but a "lead balloon."

Firing a warning shot ahead of the Obama administration's proposal for overhauling the nation's financial regulatory system, the U.S. Chamber of Commerce today warned it will vigorously oppose creation of a stand-alone consumer safety commission for financial products. Creating such a regulatory authority "is not a silver bullet for enhanced consumer protection," said David Hirschmann, president of the Chamber's Center for Capital Markets Competitiveness. "In fact, it may be a lead balloon."

SEIU's Anna Burger warned against this kind of opposition from corporate groups in her statement today praising President Obama's proposal:

Despite this strong move by the White House, we must be on guard for a big fight with the financial industry and its lobbyists, who continue to try to dilute and nullify real financial reform.

The Wonk Room asks an important question: is this the kind of "free enterprise" advocacy the U.S. Chamber promised with their $100 million campaign?

Last week, the Chamber rolled out a $100 million campaign to "defend and advance economic freedom." The Chamber's press office wouldn't talk to me because it's "not entertaining calls from bloggers at this time," but I'd sure like to know if any of that $100 million is going towards lobbying against this new agency.

If indeed this is the U.S. Chamber's idea of "free enterprise," they're going to be disappointed to know that more than 60% of the public wants tighter regulation of the financial industry.

It's clear who the U.S. Chamber really speaks for: big corporations and bailed out banks who would benefit from not having additional protections for consumers.