The Consumer Financial Protection Bureau is typical Obama legislation. Another big government bureau formed by the Dodd-Frank Wall Street Reform and about as useless as can be. From the Los Angeles Times:
Mulvaney requests zero funding for the Consumer Financial Protection Bureau
In his first quarterly funding request as acting director of the Consumer Financial Protection Bureau, Mick Mulvaney is asking for nothing.
“This letter is to inform you that for the Second Quarter of Fiscal Year 2018, the Bureau is requesting $0,” he wrote Wednesday to Janet L. Yellen, chairwoman of the Federal Reserve, which provides the watchdog agency’s funding.
Mulvaney said that the bureau had enough money on hand to cover its anticipated $145 million in expenses for the quarter, which began Jan. 1, and that he plans to slash the bureau’s reserve fund.
Mulvaney, who also serves as White House budget director, is an outspoken critic of the bureau who was made acting director in November — a controversial move by President Trump that is being challenged in court. In a 2014 interview, Mulvaney called the bureau a “joke … in a sad, sick kind of way” and said that he “would like to get rid of it.”
In his letter to Yellen, he said: “I have been assured that the funds currently in the Bureau Fund are sufficient for the bureau to carry out its statutory mandates for the next fiscal quarter while striving to be efficient, effective and accountable.”
That is how you do it - starve the monkey until it withers away to nothing. A small government is an efficient one and we already have other agencies that do essencially the same work - why pay for duplicated efforts?
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