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BIG Trouble for Pocahontas: Warren Helped FUNNEL MONEY to Democrats from CFPB

In 2014 the Daily Beast called Elizabeth Warren “the most powerful Democrat in America”.

Perhaps this is why.

Interestingly, Warren created the Consumer Financial Protection Bureau, then gave it practically unlimited power. 

From The Hill:

When the Dodd-Frank financial regulation bill was first marked up, back in 2010, the conference of the House and Senate Banking Committees started at 2 p.m. one day and ended at 5:30 a.m. the next.

The mark-up went all night.

The Consumer Financial Protection Bureau (CFPB) was inserted in the bill, which passed on a partisan vote. All the Democrats voted for it.

At the time — and later on the floor of the Senate — I pointed out that the CFPB’s director would be the most powerful bureaucrat in Washington since J. Edgar Hoover reigned over the FBI.

I was wrong. The director of the CFPB dwarfed Hoover as a rogue director of a rogue bureau.

The power invested in the director of the CFPB was, and still is, unencumbered by any limiting authority of those elected to govern.

He is a person who under Dodd-Frank answers to no-one.

This agency was stacked from top to bottom with Democrats. Because for the ruse to work, Democrats needed to stack the deck. Then, they ran roughshod over America.

After learning more about this organization, I can now see why Warren fought hard to keep Mulvaney from taking over.

Thus, As Mother Jones reported,

Sen. Elizabeth Warren isn’t letting the Trump administration gut the financial watchdog she championed without a fight.

Late last week, the Massachusetts Democrat sent a letter to the inspector general of the Consumer Financial Protection Bureau asking him to review the actions of White House budget director Mick Mulvaney in his new role as the interim head of the agency. “For all intents and purposes, Mr. Mulvaney appears to have announced a 30-day shutdown of the CFPB,” Warren wrote. “This represents a waste of taxpayer dollars and raises questions about whether Mr. Mulvaney has prevented the CFPB from fulfilling its congressional mandate.”

Warren is rightfully concerned. Because, in what will certainly hit the Top 5 of Democratic Party scandals, the CFPB slush fund finds itself under the microscope.

New York Post reports:

Bounced business owners and industry reps from secret meetings it’s held with Democrat operatives, radical civil-rights activists, trial lawyers and other “community advisers,” according to a report by the House Financial Services Committee.

Retained GMMB, the liberal advocacy group that created ads for the Obama and Hillary Clinton presidential campaigns, for more than $40 million, making the Democrat shop the sole recipient of CFPB’s advertising expenditure, Rubin says. […]

Funneled a large portion of the more than $5 billion in penalties collected from defendants to community organizers aligned with Democrats — “a slush fund by another name,” said a consultant who worked with CFPB on its Civil Penalty Fund and requested anonymity.

The “progressive” agenda shows up in full force with this agency.

They say CFPB is a Democrat shop with an anti-business agenda that goes well beyond protecting consumers and includes closing the “wealth gap” and administering “economic justice,” as Cordray has been fond of saying. It hires almost exclusively Democrats and “rejects Republican job applicants,” according to former CFPB enforcement attorney Ronald Rubin. Federal election data show 100 percent of political donations made by CFPB employees during the 2016 election were given to Democratic candidates.
It’s no surprise then that the agency has:
  • Bounced business owners and industry reps from secret meetings it’s held with Democrat operatives, radical civil-rights activists, trial lawyers and other “community advisers,” according to a report by the House Financial Services Committee.
  • Retained GMMB, the liberal advocacy group that created ads for the Obama and Hillary Clinton presidential campaigns, for more than $40 million, making the Democrat shop the sole recipient of CFPB’s advertising expenditure, Rubin says.
  • Met behind closed doors to craft financial regulatory policy with notorious bank shakedown groups who have taken hundreds of thousands of dollars in federal grant money to gin up housing and lending discrimination complaints, which in turn are fed back to CFPB, according to Investor’s Business Daily and Judicial Watch.
  • Funneled a large portion of the more than $5 billion in penalties collected from defendants to community organizers aligned with Democrats — “a slush fund by another name,” said a consultant who worked with CFPB on its Civil Penalty Fund and requested anonymity.

Imagine what the Trump administration uncovers as it peels back the onion on any of these issues.

Soon Conservatives will have plenty of reality TV to watch. First, the recent revelations about Muellers investigation, aka witch hunt. Next, the continuing drip drip of sexual misconduct scandals. And now the CFPB “scandals du jour”!

I suggest you set the DVR to “stun”.

 



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