by Craig Masters
With just a little over 2 years left in his terms it appears the speed of corruption and degrees of arrogance of the Obama administration are breaking all the barriers. Americans were told the government needed to take drastic and immediate action to reform Wall Street and protect the savings of American workers… … …
And so to stop the economic bleeding brought about by George Bush’s “unpatriotic” national debt, Barrack Obama signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act in 2010. Things didn’t get started quite as quickly as we were expecting because delays brought about by crimes and conflicts of interest of Barney Frank had to be covered up or swept under the White House rugs.
It was finally in January of 2012, when Obama appointed Rich Cordray to be the first Director of the Consumer Financial Protection Bureau (CFPB). But of course by 2012 the Federal Reserve had printed enough money to bail out the banks and launder enough money on paper to make the bond market look strong enough to prop up Wall Street. With the market “rebounding” and Wall Street executives promising loyalty (or obedience) to the administration’s overlords, what was Director Cordray to do with his new bureau?
The Mission of the CFPB sounds good…
- An informed consumer is the first line of defense against abusive practices.
We supervise banks, credit unions, and other financial companies, and we enforce federal consumer financial laws.
We gather and analyze available information to better understand consumers, financial services providers, and consumer financial markets
Above all, this means ensuring that consumers get the information they need to make the financial decisions they believe are best for themselves and their families—that prices are clear up front, that risks are visible, and that nothing is buried in fine print.
On the Mission page of the CFPB web site it states that “Among other things we”
- Research consumer behavior
Director Cordray’s new bureau was only about 14 months old when the Washington Examiner filed a request for information under the Freedom of Information Act (FOIA) about huge cost overruns for the cost of remodeling the CFPB headquarters building. Perhaps the last investigative reporter left in Washington, Richard Pollack, had learned that in just the few months under Cordray’s direction, the original $55million for remodeling had sky rocketed to over $145million and the job wasn’t yet finished.
Following the examples of his fellow administration officials like Eric Holder and former IRS director Lois Lerner as well as Secretary of State Clinton and the President, CFPB Director Cordray stone walled the FOIA request. Eventually the bureau released 15 pages of the 350 pages they admitted pertained to the request. According to an Examiner editorial the CFPB claimed the other pages involved national security or personal records or whatever their “legions of lawyers and … huge budget the Congress can’t touch” would allow them to withhold.
That Examiner editorial in the fall of 2013 finally got some attention in Congress and just 2 years to the month from being appointed by the President, CFPB Director Cordray was called before a congressional investigative committee to testify. As usual for the Obama bureaucrats, he thumbed is nose at the committee and refused to answer their questions. That heated exchange took place January 28,2014. According to a Judicial Watch report, the hearing was held by Rep. Patrick McHenry (R-NC), chairman of the Oversight and Investigations Subcommittee of the House Financial Services Committee, CFPB Director Richard Cordray obstinately refused to provide details about the remodeling project’s soaring costs.
Rep. Jeb Hensarling, chairman of the House Committee on Financial Services pointed out, “You are spending more per square foot than the Trump World Tower.”
But wait, this action wasn’t the first suit filed by Judicial Watch against the bureau claiming to be protecting consumers’ financial interests. Only a little more than a year into its operations the CFPB was discovered to be using contractors and executing “warrantless searches and seizures” of personal financial records of Americans. In the summer of 2013 it was learned that “contractors” were sharing that illegally seized personal financial information with ” other government entities.”
With his namesake health care program looking more like it is destined to be the focus of jokes more than a memorial legacy, Obama seems to be scrambling to set up his base of power for influence beyond his term limits. Having personal financial information as well as recordings of every phone call and email for anyone he wants to keep track of, he seems to be setting the stage for the kind of “transformation” he promised us in the first place.
The speed of corruption has increased so much in Obama’s second term of corruption that it may once again be time for patriots to stand and block the bridge. Imagine if those Concord Patriots were around today to take up arms to stop government agents from invading our personhood and seizing whatever they darn well please; in the name of (someone’s) security. The bridge to Concord, in this case, might have to be the NSA headquarters. Imagine how quickly there would be vacancies in Washington if those colonial Patriots seized the NSA computer files and gave all of us back a tiny bit of privacy from an abusive government. We might remember the battle this time as the “virtual” shot heard ’round the world.
God Bless Edward Snowden, a true Patriot who stepped up to set the lanterns and warn us of the approaching tyranny.