Midknight Review -- new and revised: Trump is preparing to taken down the Consumer Financial Protection Bureau (?)

Michael Grunwald / Politico:

Mulvaney requests no funding for Consumer Financial Protection Bureau — Every quarter, the Consumer Financial Protection Bureau formally requests its operating funds from the Federal Reserve. Last quarter, former director Richard Cordray asked for $217.1 million.

Editor: You will miss the point unless you are well read in terms of political news. Embedded in the brief news lede, above, is a statement of fact that makes the Consumer Financial Protection Bureau a rogue agency, a shake-down agency designed to redistribute banking funds and (also) fund a number of progressive federal programs. This bureau gets its funding from the Federal Reserve. It is the only agency created with this unique funding arrangement. And why the Federal Reserve? It puts this "Protection" agency outside the control of anyone in Congress, except for the approval of funding. To put it differently, as long as the Federal Reserve is the source of funding, this protection agency has no one to whom it must be responsible. More to the point, this funding arrangement prevents Congress from having any oversight responsibilities as to this bureau. It is the creative idea of a rogue presidency and classless Community Organizer specializing in the shake down of the large banking concerns. More than this, it makes it almost impossible for small banking compliance, does not refund collected monies to those who have been "abused," does not report to anyone, and is free to share its collections with any agency, program, or individuals it chooses. To its core, this brainchild of Barack and Senator Elizabeth Warren is a rogue agency that exists outside of Congress.

Now you know. Its time for this Bureau to be shut down.

The Stated Nonsense from the Left now includes these Progressive goals:

July 2, 2008, Obama had this to say: "We cannot continue to rely only on our military in order to achieve the national security objectives that we've set. We've got to have a civilian national security force that's just as powerful, just as strong, just as well-funded."

MICHELLE OBAMA: "Barack knows that we are going to have to make sacrifices; we are going to have to change our conversation; we're going to have to change our traditions, our history; we're going to have to move into a different place as a nation."

“ . . . . . . they have become a generation of activists possessed with that most American of ideas – that people who love their country can change it.” -- Obama the Radical

On September 30, Van Jones told MSNBC "I think everybody should hold onto your seats. October is going to be the turning point when it comes to the progressive fight back."

Midknight Review -- new and revised

Trump is preparing to taken down the Consumer Financial Protection Bureau (?)

No comments:

Post a Comment

copyright policy of the original Midknight Review