Spending Scandal at the Dodd Frank Created Consumer Financial Protection Bureau

posted by Tina

Government waste adds up to big bucks. Reward for a job poorly done makes the waste even worse in the eyes of taxpayers. But a consumer protection bureau that wastes taxpayer money? That’s the stuff of a SNL routine. Hot Air reports:

Consumer Financial Protection Bureau Director Richard Cordray evidently is feeling unfamiliar heat after resorting to a disreputable form of sophistry as a substitute for honest discussion and debate. During a June 10 hearing of the Senate Banking, Housing and Urban Affairs Committee, for example, Cordray responded to a question from Sen. Mike Johanns, R-Neb., on the ballooning cost of CFPB’s headquarters renovation by saying: “This has been out there and taken as gospel in the public record for some time. It’s a fiction of the Washington Examiner that this project started out at $55 million and now has ballooned to higher proportions. There never was any expectation that this project could be completed for $55 million. That is false.”

But the Examiner article got its figures directly from the General Services Administration and the $55 million has ballooned into $139 million and climbing.

One of the whistle-blowers witnessing this extravagance at taxpayer expense also reports civil rights abuses at the newly formed agency:

I am the naturalized U.S. citizen that Bureau management referred to as an “f’ing foreigner.”

I feel obligated to protect my fellow colleagues who, in their sincere attempts to support the mission of CFPB, are paralyzed from asserting their rights, and even their opinions. I hope, by telling my story, it will further enlighten the committee about the culture of intimidation and retaliation at the Bureau and how that culture makes it very difficult for employees to raise concerns about mistreatment, mismanagement, and abuse of authority.

This is not a new phenomenon of government but in an age of high unemployment, a sluggish economy, rising consumer prices and massive debt it’s inexcusable. it’s time the taxpayers took DC down a peg or two.

America hasn’t been a great nation, attracting people from all across the globe, because our government spends lavishly on itself, it’s been great because in a free nation any schlub can work hard and become the king in his own castle…the hero of his own novel…a success. Our big government, filled with entitle bureaucrats, is killing that dream for all but the very wealthy. This transformation is exactly the opposite of the America we love. Time to kill the bureaucracy.