I did, Thursday — the Consumer Financial Protection Bureau — which, along with the EPA, the Republicans are thrilled to see gutted.
What was Nixon thinking when he signed the Environmental Protection Agency into law? Science/schmience — if Detroit wants weaker fuel-efficiency standards, the glaciers will just have to not melt. Jesus has our back on climate change.
Same with consumers.
If the young woman described in this must-listen Planet Money podcast didn’t read the fine print before she borrowed $900 on-line from Golden Valley Lending, how can she complain that Golden Valley scooped $3,735 out of her bank account in less than a year to settle the debt?
To Democrats, capitalism should be regulated. Obama’s CFPB was pursuing Golden Valley on her behalf — and on behalf of everyone else who had been — or might be — similarly brutalized.
To Republicans, not so much. The Trump CFPB — run by a former South Carolina congressman who introduced a bill to kill the CFPB altogether and so was Trump’s choice to lead it — dropped the case. Golden Valley did nothing wrong and need not change its ways. If your daughter, desperate to avoid eviction and too embarrassed to ask you to help with $900, needs someplace to turn, maybe she’ll stumble upon Golden Valley.
(Trump has also gutted the State Department, with awful long-term consequences for our standing in the world and perhaps world peace itself; and is undermining trust in the FBI and our intelligence agencies; and in the free press that undergirds democracy. But I don’t see most Republicans in the House and Senate actively approving of those initiatives in the way they actively work to cripple the EPA and kill the CFPB.)
Quote of the Day
The social safety net should be a trampoline, not a hammock.~Bill Weld
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