The Gateway Pundit today showed that the Dow is up another 200 points as and we have seen for weeks that the lack of confidence in the economy that was a blight on the Obama administration is over. Those that drive the economy and even the average man and woman buying for Christmas are brimming with confidence as Trump keeps his promises about making the U.S. great again.
According to the New York Post, the monstrosity known as Obama’s Consumer Financial Protection Bureau is in the crosshairs as the White House wisely issues “executive orders slashing onerous Obama-era regulations on industry have been credited with kick-starting the sluggish economy and rocket-boosting the stock market.”
Obama was a detriment to the economy and, with adjustments for real wages, workers have not made less since the 1970’s than they did under his failed leadership, as shown by the Economic Policy Institute.
CFPB Director Richard Cordray has left his job of five years in order to run for Ohio’s governor. The Post writes that “Trump installed his conservative budget director, Mick Mulvaney” to handle the task and a sigh of relief was heard from everyone who pays taxes.
On day one, Mulvaney issued a 30 day hiring freeze on this very swampy of Obama creations. Much like the Federal Reserve, Mulvaney said that of the CFPB, “It is a completely unaccountable agency, and I think that’s wrong. If the law allowed this place not to exist, I’d sit down with the president to try to make the case that other agencies can do this job well if not more effectively.”
A lack of effectiveness is a fact of most of Obama’s 8 years. While he issued executive orders to get around Congress illegally, Trump is using them to undo the damage caused by this practice.
The agencies “unduly harsh regulations and unreasonable penalties” have shuttered the doors of many banks, for instance. We all want bankers who are purposefully crooked to be dealt with, but this is not what is being talked about here.
Instead, due to this money grabbing entity, banks needed to “hire more compliance officers than loan officers,” and this makes everything far more expensive for the common person and/or business.
Democrat loyalist Representative Barnie Frank (D-MA) complained, “In all the years since we created it, they do not give one single example of abuse. They talk about an agency that is ‘out of control,’ it’s a ‘bureaucratic monster.’ You would think there would be some horror stories. You would think they would say, ‘And here’s what they did wrong, it created this sort of problem.”
Like most of what the Democrats say, this is simply not true. The group has been found to be forcing their economy-hurting brand of “economic justice” on whoever they wish as they try to cause the “wealth gap.” However, by hampering banks and those who control the money (and by proxy the hiring and job-creating), the CFPB is only hurting the nation. In other words, they are seeing “economic justice” when there was no injustice to begin with!
Furthermore, the group hires only those who are Democrats and “rejects Republican job applicants,” the Post confirms. Business owners with a vested interest in attending meetings have been refused the chance to do so. Those making ads for the Democrats got special perks while everyone else got the shaft, too.
Judicial Watch has found that the group “met behind closed doors to craft financial regulatory policy with notorious bank shakedown groups who have taken hundreds of thousands of dollars in federal grant money to gin up housing and lending discrimination complaints, which in turn are fed back to CFPB.”
To add to the corruption, much of the $5 billion collected for supposed justice was given to the Democrats and their operatives.
Trump is a libertarian’s dream in this regard as he attacks the over-regulation of our country and lets the market dictate what is right and acceptable. Sure, corruption needs to be dealt with within the banking community, but the way to do that is not to steal from banks in order to pad the pockets of the Democrats.