When Elizabeth Warren, Dick Durbin, and others complain about President Trump appointing someone to replace Richard Cordray at the Consumer Financial Protection Bureau, they should be asked what the budget is for the CFPB.  The answer is that they will have no idea, because the CFPB was intentionally set up to be answerable to no one, not even to Congress.  Its money comes from the Federal Reserve, and of course, as taxpayers, we don't get to see the Fed's budget, either. Isn't it pathetic that an agency that has so much control over our lives and businesses and is supposedly a watchdog is not watched by anyone? Richard Cordray also was not confirmed by the Senate, which is otherwise required by law.  President Obama gave him a recess appointment.  Essentially, Durbin, Warren, and others want the person who is accountable to no one and who was not confirmed by the Senate to have the sole authority to appoint his successor. That's what's...(Read Full Post)