Good day all. One of the targets for termination with extreme prejudice by both the Trump Administration and The Republican Party is the Consumer Financial Protection Bureau. This bureau was cooked up by Senator Elizabeth Lie-a-watha Warren as a tool for her to wreck havoc on the economy.
When Big Chief Sitting Bullshit cooked up this bureau, it was designed to be completely independent of any oversight from either Congress or the Executive Branch. Warren saw herself being appointed as the first director of the bureau. Obama, in a fit of common sense, decided that ramming through her appointment over GOP opposition as not worth the political capitol it would have cost.
Without question, if Warren had become director, she would have used the bureau to pretty much wreck the financial services industry. Warren is a communist, although she denies it. She is one who thinks that what she has is hers, and what you have belongs to her as well.
The CFPB has always been constitutionally problematical and has been challenged several times. One of those challenges was how the bureau is funded. It gets it’s money from the Federal Reserve, another constitutionally questionable organization. Apparently the CFPB only gets funded out of the Federal Reserve’s profits. Therein is the rub.
The Federal Reserve is not making any money, hence there is no funding for the CFPB and the director is preparing to shut the bureau down. This is why the unions want a judge to force the Trump Administration to fund the bureau. They don’t want to lose all those union dues. Now they are suing. Here are the details from Newsmax:
A federal employees’ union on Sunday asked a federal judge to order the Trump administration to fund the top U.S. consumer watchdog, weeks after the agency said its cash could run out by year’s end.
In a court filing, lawyers for the National Treasury Employees Union and other plaintiffs disputed officials’ claim that they cannot legally fund the Consumer Financial Protection Bureau.
First, what standing does the National Treasury Employees Union have to bring this case? Second, this is yet another case where the government employee unions, who should not exist, are demanding that the Administration fund a government agency. We already had a couple of judges issue orders that money not appropriated by congress that SCOTUS had to shut down. It looks like the NTEU is going to try again.
President Donald Trump has sought to dismantle the CFPB since he took office in January and installed Russell Vought, his budget director, as the acting head of the agency. While Vought’s effort to fire the vast majority of its employees is tied up in litigation, he has successfully shut down most of the CFPB’s activities.
Earlier this month, the bureau under Vought’s leadership told the court it could not request more money from the Fed because the law that authorized it specified the funds must come from the central bank’s “combined earnings.” Since the Fed has been operating at a loss, the filing argued, there are no earnings available.
This is what I mentioned earlier. The way those Warren and the other morons set this up was designed to completely undermine the oversight duties of Congress. In some ways, it was set up like a private business, Congress doesn’t generally have anything to do with a business. (I’m excluding all the “To Big to Fail” corporations that congress has been bribed to protect) They also won’t give them money if they can’t make payroll. Congratulations Warren on being to clever by half.
In Sunday’s motion, the union said that interpretation “cannot be squared with the text, purpose, or history of the statute” and accused the government of attempting to sidestep a previous injunction barring the total elimination of the CFPB. The U.S. Supreme Court last year found the bureau’s funding structure constitutional.
I consider that to be a mistake, but now it’s going to come back and hitting them in the face. If SCOTUS has said that the funding mechanism is constitutional, and the law says the CFPB’s funding comes from profits and there aren’t any profits? I can’t wait for whatever COB judge the union finds to issue an order that the CFPB must be funded without saying how.
This was what happened when a couple of idiot judges ordered President Trump to fully fund SNAP during the shutdown. He asked a very simple question. How? How was the administration to carry out this court order in a way that was legal and constitutional? That set the judges to sputtering like the drooling moonbats they are.
I can actually see some Leftard Judicial Tyrant ordering the Federal Reserve to fund the CFPB in obvious violation of the statute. The response should be “So tell us where this money is magically coming from Judge Moonbat?” I would expect that the idiot judge would then try something really stupid like putting the Federal Reserve under Judicial Receivership.
That would trigger a full blown constitutional crises. Basically, the courts would be usurping both legislative and executive authority. That might be the point where the Administration decides that the time has arrived to start going after these corrupt, power-mad Clinton, Obama and Biden judges. If/when this happens? The judicial branch will finally learn what happens when they go that one step to far.
Thatisall
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