Traitorous Tuesday

1a

Most people have probably heard about Mick Mulvaney’s seizure of the Consumer Financial Protection Bureau (CFPB) as Donald Trump’s appointed “acting director.” They probably don’t realize quite how outrageous this move is.

First, it is worth noting that Mulvaney openly holds the CFPB in contempt. When he was still in the House of Representatives, he referred to it as a “joke.” Mulvaney has made it clear that he would be happier if the CFPB did not exist. Appointing him as acting director is a bit like selecting a hardcore atheist as the next pope.

It is also worth placing the CFPB in a larger economic context. The CFPB’s general purpose is to protect people who are less financially sophisticated from predation by the financial industry. While it does perform this purpose, it also is working to make the financial industry more efficient, insofar as it succeeds in this effort.

Remember, the economic purpose of the financial industry is allocate credit to those who need it. In principle, we want to use as few resources as possible in this process. If we only need 1 million people rather than 2 million people to issue and service loans and perform other financial operations, then we have freed up a million people to work in health care, education or other productive sectors of the economy.

@ TRUTHOUT

About Den

Always in search of interesting things to post. Armed with knowledge and dangerous with the ladies.
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21 Responses to Traitorous Tuesday

  1. Den says:

    Doors are closing on our Democracy. I’m not sure the intestinal fortitude exists anywhere in Congress to oppose this onslaught of destruction, the checks an balances promised in The Constitution are not there, it has been trampled by BIG MONEY interests leaving we the people in a lurch.

    Will we make it to the 2018 vote without major incident? Selfish puggers must go.

    You can bet that with the mounting evidence of sexual escapades by rich boy he will be looking for a way to cling to power, I and many others would love to stomp on his tiny little fingers so that doesn’t happen.

    Like

  2. David B. Benson says:

    Typical 14 minutes to the Hillside Cafe.

    Like

    • David B. Benson says:

      Despite walking further, down to Eastlick for another untrodden upon walkway, still the daily total is 40 minutes.

      Day 3: 77+40=117 minutes.

      Like

  3. jimhitchcock says:

    Pretty much a dead heat in Alabama with 87% in, Jones up 5000 @ 88%. 11,000 @89%.

    Like

  4. Den says:

    4073 posts so far, if I have to pay more because of jerks like Opie@fcc.gov, DWF could cease to exist, loss of Net Neutrality could result in streamers and smartphoners paying out the wazoo for service and in that service is filtered information paid for by BIG BUSINESS, (where all information is suspect). That type of information supply undermines every ones availability to obtain TRUTH. So sites that speak truth could go away by having their traffic choked off from view.

    I think we need to build a fence around Alabama, it’s infested with idiots.

    Like

  5. Den says:

    There is this @ Marketwatch:

    Democrat Doug Jones won Alabama’s U.S. Senate election Tuesday night, defeating the controversial Republican Roy Moore and dealing a stinging rebuke to President Donald Trump.

    Jones, against whom Trump had railed in recent days, was projected the winner of the special election shortly before 10:30 p.m. Eastern by multiple news organizations.

    Jones, a 63-year-old former U.S. attorney, becomes the first Democrat elected to the Senate from Alabama since 1992. He tweeted “Thank you ALABAMA!!” shortly after the race was called.

    “We have come so far and the people of Alabama have spoken,” Jones told his supporters after declaring victory. “”This entire race has been about dignity and respect. This campaign has been about the rule of law. This campaign has been about common courtesy and decency and about making sure no matter what ZIP code you live in in this state you get a fair shake.”

    Trump’s 2016 opponent Hillary Clinton quickly chimed in on Twitter: “If Democrats can win in Alabama, we can — and must — compete everywhere.”

    There is a God!!

    Now about those idiots…

    Like

  6. Den says:

    If Doug Jones shows those idiots that he is a better Senator than any dumb-ass pugger the idiots might get smart, of course that is a trickle down theory after all…

    Like

  7. David B. Benson says:

    Jones.

    Cheers!

    Like

  8. Den says:

    Next up: Angry Women kick rich boy out of the House.

    Like

  9. Den says:

    Meanwhile @ the Celebration:

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  10. Micki says:

    I haven’t read this morning if the Alabama loser still hasn’t conceded. But, two things I do know: (1) I’m ecstatic Doug Jones won; (2) that the Democratic Party establishment had BETTER do more for African-Americans — starting now!

    Criminy! When Obama was president, Democrats struggled to turn out black voters in off-year elections…and look now! Yesterday in Alabama, and last month in Virginia and New Jersey it was African-American voters who ensured victory for Democratic Party candidates. Especially in Alabama!

    Like

  11. David B. Benson says:

    Bellingham had the greatest increase in employment in the USA over the first three quarters of 2017.

    Like

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