Current OMB Director Mick Mulvaney thinks the Consumer Finance Protection Bureau is a sick, sad joke. We think that Mick is the sad one.
Mulvaney hails from South Carolina, and if you smell Tea Party and Freedom Caucus, you are definitely on his trail. All the wrong people love him. CPAC. The Gun Lobby. If the organization is twisted to the right, he is their guy.
He went to a Catholic High School, which explains a lot, then took honors at Georgetown. He’s no dummy, so why is on the wrong side of every argument? Well, being smart does not always make you sensible. Ideology clouds reason.
He hates Obamacare, and like all other haters of the program, he offers nothing to replace it, save the usual nonsense about savings accounts. When you are making minimum wage, it’s hard to save.
As head of the Office Of Management and Budget, you would think that his education in economics would make him adamantly opposed to spending more money and cutting taxes. We guess he took the wrong courses at Georgetown. Or, like many of his ultra conservative colleagues, the Trump Kool Aid has addled his pate. The big lie on Capitol Hill these days is that economic growth will easily offset the crushing debt that tax cuts will cause. Corporations will hire everyone at good wages, and we will all get rich. It is not true, and has never worked before, but there it is. This mentality reeks of Club For Growth, and guess what, they love him too!
Government is the problem in Mick’s opinion, which makes him perfect for dismantling the CFPB. All those penalties against Wells Fargo cannot be good for business. Consumer’s don’t need protection. Banks do. Perhaps we should rename the CFPB to the Banking and Finance Protection Bureau.
Once again, Donald Trump has selected the man most likely to do damage to an Obama-era organization that protects consumers. Thankfully, he will be challenged for doing this misdeed. Seems he can’t really do that.
It will take time to reverse all the good that the CFPB has done, and it has done a lot to protect consumers. Given his ratings, time may be one thing Donny is short of.