If there is one interest group that Democrats hope can unite their warring factions, it has be consumers. After all, every Democratic constituency–environmentalist, millennial (especially millennial), gay, transgender, illegal immigrant, Muslim, and what not–purchases.
But Texas Republican Senator Ted Cruz may have just jettisoned that group from Democratic party clutches, particularly those of white-knuckled leftist Senator Elizabeth Warren
On Tuesday, Cruz, the one Republican insider who can lay claim to actually fighting Obama, introduced a two-page bill designed to make history of the liberal-cherished Consumer Financial Protection Bureau.
Under the Repeal CFPB Act, sponsored by Senator Ted Cruz and four other Republican senators, the Consumer Protection Act of 2010, created by Warren’s co-thinkers Senators Chris Dodd and Barney Frank, the CFPB’s draconian power over banks, money lenders and other financial institutions would become extinct.
In a statement announcing the bill, Cruz portrayed the agency as cloaked in typical liberal double-speak.
“Don’t let the name fool you, the Consumer Financial Protect Bureau does little to protect consumers,” Cruz said.
As with so many other government programs under Obama, the CFPB, according to Cruz, gained more unaccountable power.
“During the Obama administration, the CFPB grew in power and magnitude without any accountability to Congress and the people, and I am encouraged by the actions President Trump has begun to take to roll back the harmful impacts of an out-of-control bureaucracy,” Cruz said.
True to his blunt form, Cruz is sponsoring a bill that gets right to it. In two short sections, one of which is the title, the second of which is the meat of the proposed bill, the latter says “The Consumer Financial Protection Act of 2010…is repealed, and the provisions of the law amended or repealed by that Act are restored or revised as if the Act had not been enacted.”
Cruz is flanked by fellow Texas Congressman John Ratcliffe who is sponsoring similar legislation in the House of Representatives. Like Cruz, Ratcliffe is zeroing in on the CFPB’s lack of accountability to taxpayers and Congress.
“The CFPB’s lack of accountability to the American people was quickly evidenced when — contrary to its name — it ended up hurting many of the very folks it was intended to help,” Ratcliffe said.
This lack of accountability is the usual liberal hypocrisy, expressed by Democratic lawmakers by their attacks on government agencies like the CIA–under Republican presidents that is–as being unaccountable to the American people. It is doubly ironic for the CFPB’s leader Senator Elizabeth Warren, who, in other contexts, champions the unaccountable.
Revealing that her progressive sentiments only go so far by throwing in with candidate Hillary Clinton in 2016 rather than her CFPB colleague Bernie Sanders (who rightly denounced Clinton as “corporate-controlled”) Warren’s allegiance to Hillary was such that she became an apologist for perhaps one of the most cash-rich unaccountable groups today, The Clinton Foundation.
A reflection of the seediness of the Clintons, the Clinton Foundation, supposedly formed to aid poor nations with AIDS treatment, education and healthcare, in actuality devoted only 10% of the money raised for that purpose, according to a report by two charity watchdog organizations.
In the same report, the Clinton Foundation in 2013 took over more than $140 million contributions, only 9 million of which went to poor nations. The remainder of the money went to family friends.
Only after running for president did Warren’s candidate come forward with the previously-undisclosed list of donors to the Foundation.
And during Warren’s defenses of the Foundation, she continued to rail in a class-warrior fashion against the very groups that nourished and were nourished by the Clinton Foundation: Wells Fargo and Wall Street.
Warren said Wall Street CEOs “wrecked our economy and destroyed millions of jobs” and that they “still strut around congress, no shame, demanding favors, and acting like we should thank them”.
Regarding the consumers she claims to protect, Warren defends this entity–unless they become rich in the process. And if they do, it is undeserved, and required and requires government assistance from her faction.
“There is nobody in this country who got rich on their own. Nobody. You built a factory out there – good for you. But I want to be clear. You moved your goods to market on roads the rest of us paid for. You hired workers the rest of us paid to educate. You were safe in your factory because of police forces and fire forces that the rest of us paid for. You didn’t have to worry that marauding bands would come and seize everything at your factory,” she thundered.
Personally, Warren has manipulated the system in the same manner she claims Wells Fargo does–by lying. In her case, Warren in the 1980s and 1990s claimed American-Indian heritage, later proved to be false, as a means to get hired in minority-friendly law firms.