Obama CFPB creation Elizabeth Warren couldn't "be fired even if voters elect a president with different ideas about how to protect consumers."...
3/21/11, "We Must Have Real Accountability From Our Overseers," Rep. Randy Neugebauer (R-Texas), Chairman, Oversight and Investigations Subcommittee, House Financial Services Committee, Washington, Letter to the Editor of the Wall Street Journal
""President Warren's Empire" (Review & Outlook, March 16) accurately describes the pitfalls and unintended consequences of Prof. Elizabeth Warren's newly created fiefdom. And because the Consumer Financial Protection Bureau answers to practically no one, I have introduced legislation (H.R. 557, the Consumer Financial Protection Oversight Act of 2011) that effectively sends what I believe to be
- a runaway bureaucratic bullet train to a rail siding.
- that taxpayers deserve.
- of government run amok."
(The following letter explains the meaning of "President Warren," she's there for life, permanent, can't be fired by any president.)
"The CFPB's lack of checks and balances violates the constitutional separation of powers. It has a single head who can't be fired even if voters elect a president with different ideas about how to protect consumers.
The usual rule under our Constitution is that the president can fire department heads at will, as the Supreme Court made clear in its Myers v. U.S. decision of 1926, which struck down a contrary law. An exception to this rule covers multimember agencies with a "quasi-legislative, quasi-judicial" role. But that exception doesn't cover the CFPB, which is headed by a single leader not subject to collegial oversight.
The bureau's defenders claim its autonomy is permissible because it is an independent agency. But that argument is circular, using independence to justify itself. Under that perverse logic, the very officials courts have said can be fired, like cabinet secretaries, could be given life tenure just by calling them "independent." Moreover, just like the bureau, cabinet department officials
- write their own rules and regulations.
Competitive Enterprise Institute
Mr. Bader helped bring a case in 2010 in which the Supreme Court reaffirmed its Myers decision."
From what I've read, the far left considers it a "smear" to merely point out a few key facts about Ms. Warren and the new bureau Obama has set up for her. The left does not allow one syllable of dissent. ed.