Going to be very brief with this. There’s no reason to be verbose and put a digital diploma in your hands on the way out.
The Consumer Financial Protection Bureau. It is an agency that was born out of the aftermath of the great financial collapse of 2007 due to the off-rail greed and mismanagement of the US financial industry. A bill was written up, sponsored by Barney Frank and Bill Dodd that was debated, passed, and signed into Law by President Barack Obama.
In a simple nutshell, it it is an agency that consolidates key employees in a bunch of federal agencies to ” write and enforce rules for financial institutions; examines both bank and non-bank financial institutions; and monitor and report on markets; as well as collects and tracks consumer complaints.” (from the above Wikipedia entry).
Trump wants to skin every bit of leadership that remains from President Obama’s tenure, so this agency is one of the prize cows he wants to bleed out. Mix that with how his donors REALLY enjoyed the wild west laissez-faire irresponsibility that made bad men rich and the middle class destitute, and you have a ready-made target for Trump’s idiot-rage.
So, what’s that got to do with today?
Everything. The director of the agency was Richard Cordray. He decided to leave the agency a year earlier than his term ended. The LAW states that the deputy director would then serve as the acting director until such time as the sitting President could choose a successor and have the US Senate approve them. Trump decided today that it was within his banana republic dictatorial digression to appoint the acting director.
Why is this such a big deal?
It’s not a big deal.
It’s a HUGE deal. Barney Frank, who helped create the agency, spoke about it on Lawrence O’Donnell’s show on MSNBC tonight. He explains that it is trump’s intent to not ever have to get a director voted on in Senate. He can just put a jackass (in this case, trump’s jackass is Mick Mulvaney, the head of the Office of Management and Budget). Mulvaney has verbally licked his chops at just how he would drown this baby in the bathtub. Donald wouldn’t have to ever have him put up before a vote in Senate what would NEVER approve a jackass like Mick, here to sabotage the agency.
With Leandra English taking the reigns responsibility in the meantime, trump would then have to choose a SANE replacement.
This is why this is such a big deal. Not a lot you can do to influence what will happen. Post this blog. Call and write your newspapers and your elected leaders. But, really, this is going to have to go through the court system.
Spread the word, for sure!