If you’re unfamiliar with the CFPB (Consumer Financial Protection Bureau), it’s the rogue agency that spends a shitload of your tax dollars in order to make it more difficult for you to get a loan because you’re too stupid to not get ripped off by the big mean banks. Or at least that’s what Elizabeth Warren thinks. The CFPB was her idea, if you were wondering what she has to do with it. Anyways, Mick Mulvaney, the acting director of the CFPB has requested no money to fund the bureau for the current quarter in an attempt to reduce the federal deficit.
WSJ – WASHINGTON—The Trump-appointed acting director of the Consumer Financial Protection Bureau is requesting no money to fund the bureau for the current quarter, saying it can tap reserves in a move that will “serve to reduce the federal deficit.”
The Bureau would have received $145 million for the January- March quarter. Instead, Mulvaney plans to use a reserve fund that the previous administration was saving for a rainy day. I think (and I’m not alone) this is an attempt to gut the agency from the inside out.
Mulvaney is known to not be a fan of the bureau, once calling it “a joke… in a sad sick way,” which drew some criticism from the left when Trump appointed him director back in November. Mulvaney asking for no money this quarter is probably the first step of a plan to defund the bureau.
This would be huge. If you bought a house in the last 6 years, you know how much of a nightmare the process is. In order to get approved for a mortgage, you pretty much have to prove you don’t need it and you can thank Chief Warren and her CFPB for that. Liberals will tell you getting rid of the CFPB would be the end of the world, but liberals are idiots who think they need a massive government agency that burns through hundreds of millions of tax dollars a year to tell them how to spend their money. They’ll credit the CFPB and Dodd-Frank with ending the housing market debacle, which is bullshit, but that’s a whole other story you can read here if you like.
For whatever reason, liberals have this insatiable desire to have their lives run by an all powerful government bureaucracy. They think the government needs to control healthcare, the environment, banks, and their incomes. I, on the other hand, believe I’m perfectly capable of managing my own finances and wouldn’t mind an easier path to getting a loan. Don’t believe the left when they lie to you about what the government needs to control and don’t believe Senator Sitting Bull when she tells you her precious CFPB is paramount to the stability of the economy. She’s a fool but she’s not fooling us.
By: Dave Wilkins