Outside the Beltway

And Amateur Hour Continues…

Steven L. Taylor
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Via  WaPo:  The CFPB now has two acting directors. And nobody knows which one should lead the federal agency.

President Trump and the outgoing head of the Consumer Financial Protection Bureau both named acting directors to head the watchdog agency on Friday, throwing its leadership into disarray.

Legal analysts were split over whether the White House or the CFPB had authority to name an acting director, with each side citing the fine print of dueling federal rules. Some added that the laws were open to interpretation and that the courts ultimately would have to decide the matter.

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11 responses to “And Amateur Hour Continues…”

  1. Mark Ivey Avatar
    Mark Ivey

    This is going to the Courts…..

  2. Mr. Prosser Avatar
    Mr. Prosser

    Does anyone think Leandra English would voluntarily subject herself to the dogfight that is coming? The Trump bunch excels in the art of personal destruction. If she is doing this on principle she is a saint.

  3. Gustopher Avatar
    Gustopher

    Why would someone get to name their own acting director as they leave the agency? Does any agency act that way?

    I think Cordray (sp?) should have stayed put, since anyone Trump replaced him with would work to destroy the CFPB. But if he leaves, Trump gets to replace him.

  4. JKB Avatar
    JKB

    Terribly amateur. The CFPB is now going to appear in the news every few months. Over time, the voters are going to learn about this move by establishment DC to install unaccountable bureaucrats, ones above even Congress. It’s all very European. It is also a very direct next step toward the Zwangswirtschaft of the Nazis that has been the long march since the New Deal.

    Added bonus, with dueling directors the employees, who given their coming on board with Warren, are likely not fans of making America great again. But now, if they impede by throwing their bureaucracy around, they run the risk of coming out on the wrong side of the director battle and loss of influence. This is an excellent way to turn on the spotlight as well as freeze the agency while this trundles through the courts.

    And as people become aware of this unaccountable agency with it near unlimited ability to harass citizens, this “compulsory economy” of the Nazis, it will be tied to Elizabeth Warren, “fascist”.

    Zwangswirtschaft (German) is an economic system entirely subject to government control. “Zwang” means compulsion, “Wirtschaft” means economy. The English language equivalent for Zwangswirtschaft is something like compulsory economy

  5. An Interested Party Avatar
    An Interested Party

    It is also a very direct next step toward the Zwangswirtschaft of the Nazis that has been the long march since the New Deal.

    Oh, so an organization set up to protect consumers, and one which may just be too effective for certain people, is now the next step towards the Nazis? What a good little lackey you are for corporations…

  6. al-Ameda Avatar
    al-Ameda

    @JKB:

    And as people become aware of this unaccountable agency with it near unlimited ability to harass citizens, this “compulsory economy” of the Nazis, it will be tied to Elizabeth Warren, “fascist”.

    Oh my god, this Agency is a gateway to fascism in America!
    Fraulein Elizabeth Warren will be re-christened ‘Maria Braun.’

  7. wr Avatar
    wr

    @JKB: “The CFPB is now going to appear in the news every few months. Over time, the voters are going to learn about this move by establishment DC to install unaccountable bureaucrats, ones above even Congress.”

    You really believe that in a public fight between regulators who have been made mostly immune from interference by congressmen who have been bought and paid for by Wall Street and Republicans who ran claiming to rein in the banks but are actually removing all constraints from them so that they can recreate 2008, the public is going to side with Goldman Sachs and the politicians on its payroll? What world do you live in?

  8. JKB Avatar
    JKB

    @An Interested Party:

    The Dictatorial, Anti-Democratic and Socialist Character of Interventionism

    Many advocates of interventionism are bewildered when one tells them that in recommending interventionism they themselves are fostering anti-democratic and dictatorial tendencies and the establishment of totalitarian socialism. They protest that they are sincere believers and opposed to tyranny and socialism. What they aim at is only the improvement of the conditions of the poor. They say that they are driven by considerations of social justice, and favour a fairer distribution of income precisely because they are intent upon preserving capitalism and its political corollary or superstructure, viz., democratic government.

    What these people fail to realize is that the various measures they suggest are not capable of bringing about the beneficial results aimed at. On the contrary they produce a state of affairs which from the point of view of their advocates is worse than the previous state which they were designed to alter. If the government, faced with this failure of its first intervention, is not prepared to undo its interference with the market and to return to a free economy, it must add to its first measure more and more regulations and restrictions. Proceeding step by step on this way it finally reaches a point in which all economic freedom of individuals has disappeared. Then socialism of the German pattern, the Zwangswirtschaft of the Nazis, emerges.

    von Mises, Ludwig (1947). Planned Chaos

  9. Jen Avatar
    Jen

    Amateur Hour, Monday edition: Holding a ceremony honoring Navajo Code Talkers in front of a portrait of Andrew Jackson.

    This entire administration couldn’t run Bluth’s Banana Stand.

  10. Ben Wolf Avatar
    Ben Wolf

    @JKB: All that quote does is show von Mises was wrong about everything. Seventy years afterward, not a single social democracy has become like Nazi Germany, while the sole attempt to explicitly reorder a country in von Mises image (Chile) was a dictatorship torturing people in public.

  11. An Interested Party Avatar
    An Interested Party

    All that quote does is show von Mises was wrong about everything.

    Which, of course, explains why JKB would use it to make his delusional point…

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