Posted on 11/26/2017 12:10:28 PM PST by bobsunshine
President Trump has slammed the Consumer Financial Protection Bureau as a "total disaster" and rightly objects to a second leftist taking the place of outgoing leftwing director Richard Cordray.
The battle is just the tip of the iceberg surrounding this federal agency that shouldn't even be there in the first place.
What Trump is battling is an unaccountable agency run by the Democrats and for the Democrats with the aim of funding more Democrats. It's a shakedown racket targeting banks and other moneybags businesses based solely on the size of their assets to harvest from fines. It was never about protecting consumers. It was never about oversight. It just amounted to a slush fund for Democrats that as set up cannot be reformed.
A long, worthy piece by a Ronald L. Rubin, a former enforcement attorney at CFPB, in National Review, lays out the problems as only an insider's account can.
Conceived as a government watchdog with noble aims, the CFPB was doomed by a structure that made it an inherently political agency.
is how he summed this leftist racket up.
(Excerpt) Read more at americanthinker.com ...
funding would be guaranteed through Federal Reserve profits rather than taxpayer dollars.
END THE FED!!
The very idea of credit money should call for Tar and Feathering.
Article 1, section 8
To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;
Article 1, section 10
No State shall,...make any Thing but gold and silver Coin a Tender in Payment of Debts;
We haven’t had Legal Tender since 1965.
I think we can all agree the CFPB was set up by Democrats to finance the illicit goals of the leftist-Democrats, and must by any means necessary be eliminated.
HRC was supposed to win, and this agency wasn’t supposed to be in question. It would have been protected under HRC.
Injun Lizzy very saddened!
I understand that it’s at least partially the brainchild of “Fauxcahontas”, Lizzie Warren. Therefore, in my book, it cannot be open and above board. Shut it DOWN!
Why since 1965? Wasn’t it earlier?
bump
ONLY DOING WHAT James Madison WOULD HAVE DONE.
https://www.goodreads.com/book/show/209055.The_Mind_of_the_Founder
As I recall, the CFPB was a more-than-likely illegally created quasi-government agency.
It was created to be funded outside the government, with no oversight by elected officials, but granted governmental authority and the ability to write regulations and issue punishment through the levy of fines, using government as the enforcer.
I’m continually amazed at the disdain that the members of our government, supposedly our employees and servants, show towards the people they’re supposed to govern, and the rules they’re supposed to be following while governing (in other words, the Constitution.)
Mark
A total ‘shake down’ of financial industry.
Fewer than necessary understand that the money the CFPB ‘fined’ banks, etc was the taking of our money!!
Coinage Act of 1965. The Coinage Act of 1965, Pub.L. 89–81, 79 Stat. 254, enacted July 23, 1965, eliminated silver from the circulating United States dime (ten-cent piece) and quarter dollar coins.
1964 was the last silver coins.
“under the purview of the Federal Reserve.”
Wow - that sends chills down my spine. More power to the unelected, unconstitutional, central planning agency which corrupts our money supply and is the financial backstop to America’s elites and progressive Government.
I am NOT surprised a statist, proto-fascist and hypocrite like Elizabeth Warren would promote such a group.
This organization needs to be fully restructured to be accountable and punished for making it a democrat funding/extortion outfit.
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