Who Could've Ever Predicted THIS When The Monstrosity that is the CFPB was Created?
- Thread starter Marshal Jim Duncan
- Start date
I'm a regulator. If you are going to have regulatory bodies then this is inevitable in all regulated industries/professions. The best performers come from industry/private sector (I.e the people being regulated). Those that are regulated can also pay much hire salaries to lure people away from the regulators.
That's why Glenn are unfolds has proposed a special tax on the on the earnings of those leaving government service for private sector jobs. The CFPB has been existence for what 2-3 years? The agency is funded strictly by fines levied against the banks and other financial institutions it regulates. Let's be honest: it was created ordinarily as a vehicle for extorting money out of banks with assets of $50 billion +.
But you assume constantly that politicians do something shady because they're getting paid off?
They have more power individually. They can be bought. Look at Mary Fallin and the oil companies in Oklahoma.
In my experience no one individual, or team, can have enough influence to effectively be an advocate for an organization we regulate.
In my experience no one individual, or team, can have enough influence to effectively be an advocate for an organization we regulate.
You don't work at the upper levels of a federal agency that's been around for 2-3 years and had around 50 executives go to work fir the industry it regulates.
