Elizabeth Warren’s Secrets and Lies
Warren will stop at nothing to shield the Consumer Financial Protection Bureau from scrutiny. After all, it’s her signature accomplishment, and she has a political future to think about.
By Ronald L. Rubin — February 10, 2017
Last Friday, President Trump signed an executive order listing “Core Principles” for reforming financial regulation, including the Democrats’ 2010 Dodd-Frank Act and the Consumer Financial Protection Bureau it created. Massachusetts senator Elizabeth Warren could hardly object to some of the principles — for example, “prevent taxpayer-funded bailouts” or “empower Americans to make independent financial decisions and informed choices in the marketplace” — because she herself had previously expressed similar sentiments. So instead, she quickly accused Republicans of “rushing to unleash the big banks” and “gut the consumer agency that has forced banks to give $12 billion back to customers they cheated.”
It’s time to retire these slurs, which Democrats have used for five years to attack any Republican who criticizes the CFPB or suggests ways to fix it. The vast majority of Republicans are not billionaires, or even millionaires, but they are all consumers, and they don’t enjoy being defrauded any more than Democrats do. Understanding economics and opposing policies that harm rather than protect consumers do not make one a bank worshipper.
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http://www.nationalreview.com/node/444777/print
