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(Mother Jones)   The GOP has a plan B to deal with Elizabeth Warren's consumer watchdog agency and to continue to keep the American public from being protected from abusive practices by big banks and other lenders   (motherjones.com) divider line 71
    More: Interesting, GOP, Plan B, Spakovsky, Richard Cordray, indirect costs, CFPB, credit history, exercises  
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2698 clicks; posted to Politics » on 24 Jul 2013 at 10:06 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



71 Comments   (+0 »)
   
View Voting Results: Smartest and Funniest
 
2013-07-24 09:40:44 AM
They'll probably just cripple it with continuous investigations into "scandals"
 
2013-07-24 09:43:24 AM
The GOP has a plan B to deal with Elizabeth Warren's

they're gonna abort her? They don't understand contraceptives that well, do they?

joking aside, GOP, come with me to camera 3:

Look, I get it. You don't like this lady because she beat the pants off Scottie2Hottie and is trying everything in her limited power to dismantle the class war you've carefully crafted these last 40 years. I get it, I really do. If I was some cartoonish supervillain, I'd be pissed too if some upstart came out of nowhere and started to kick my ass on things and break the reality I've cultivated for decades. I get it. It's like fighting Batman for all these years and "winning" when suddenly you've got Robin's mother kicking you in the balls and telling you to grow a pair. But I gotta say one thing, suck it up and eat a bag of dicks, you scruffy nerfherders.
 
2013-07-24 10:03:53 AM
They're only doing it because the banks bribed them, so the GOP position is understandable.
 
2013-07-24 10:08:00 AM

somedude210: They don't understand contraceptives that well, do they?


they never have.  these are the same people who thought you had to take 1 birth control pill every time you wanted to engage in the sex.
 
2013-07-24 10:12:54 AM
Impede, obstruct, delay, defund.
 
2013-07-24 10:13:44 AM
Y'ever notice how no one freaks out when everything goes "according to plan", even if the plan is horrifying?
 
2013-07-24 10:13:56 AM
Well there's another plan they could use: craft a political ideology based on sound, moral policy that is capable of winning national popular elections in the face of a changing electorate. That or keep fighting windmills.
 
2013-07-24 10:14:57 AM

somedude210: The GOP has a plan B to deal with Elizabeth Warren's

they're gonna abort her? They don't understand contraceptives that well, do they?


I think at this point it would technically be considered infanticide since the agency has now been out of the womb for about a week.
 
2013-07-24 10:19:05 AM
Republican's continuing war on the fight to save the practices of Wall Street. While they push the BS onto the disenfranchised about Gay Marriage and Abortion and immigration. Keep money flowing in from all the moral issues then spend it on protection of Corporate interests, and Oil lobbying. fark them all.
 
2013-07-24 10:22:29 AM
Yes, because so far, whoooo boy, she's been a real terror.
 
2013-07-24 10:24:34 AM
Plan B? I thought Republicans were against that sort of thing?
 
2013-07-24 10:25:10 AM
According to TFA, apparently, the country has ways of shutting that whole thing down.
 
2013-07-24 10:25:51 AM
It's immoral* for a business to mot make the absolute maximum amount of profit at any given instant in time.

*Reblican/Libertarian morals
 
2013-07-24 10:27:03 AM
But corporations are the most under-represented persons in the US.  There are what, 300 million citizens in the US?  Then number of good hearted corporations worth a damn are in the thousands.  You call that fair??
 
2013-07-24 10:29:35 AM
The GOP has a plan

Well no worries here.
 
2013-07-24 10:29:40 AM
Who cares if a few million people get defrauded by banksters?  It's not like that could cause a massive economic collapse or anything.
 
2013-07-24 10:30:22 AM

HotWingConspiracy: The GOP has a plan

Well no worries here.


Is it a ... cunning ... plan?
 
2013-07-24 10:31:11 AM
Hey, GOP, remember when you wouldn't allow a straight up-or-down vote to Elizabeth Warren to head the Consumer Financial Protection Bureau? Remember what happened? A former senator who drives a truck remembers.
 
2013-07-24 10:32:43 AM

Dr Dreidel: Y'ever notice how no one freaks out when everything goes "according to plan", even if the plan is horrifying?


Some men just want to watch the world burn, particularly if they can watch it happen from the Moon Child space station.
 
2013-07-24 10:32:55 AM
Still pissed about Manhattan.

Mandatory.
 
2013-07-24 10:34:19 AM

HotWingConspiracy: The GOP has a plan

Well no worries here.


A plan is a list of things that don't happen.  Last time they had a great idea, she ended up a senator instead.  I hope it goes well...
 
2013-07-24 10:34:34 AM

karmaceutical: But corporations are the most under-represented persons in the US.  There are what, 300 million citizens in the US?  Then number of good hearted corporations worth a damn are in the thousands.  You call that fair??


Plus they won't even let corporations vote.  How is disenfranchising some of our country's wealthiest people in our best interests?
 
2013-07-24 10:35:40 AM
I really haven't seen a good explanation of the Republican objections to the Consumer Financial Protection Bureau. Even the Heritage Foundation (which might sometimes make deceptive arguments, but at least puts up a fight) just seems to say "Look at all these things lending agencies do! The CFPB monitors ALL those things for abuse!" despite agencies like the SEC having similar power to root out abuse with little (many would say too little) interference in legitimate business. I can actually support the idea of changing the institution to give it a board of directors rather than a single one, but trying to remove any independence the bureau has is a blatant attempt to make banking regulations even more toothless than before. I'm already cynical enough to think that regulatory capture is going to set in within a decade, can we at least give it a chance to shine a light on the shady things banks are doing before then?
 
2013-07-24 10:37:19 AM

HotWingConspiracy: The GOP has a plan


WAS GETTING DERPED A PART OF YOUR PLAN?
 
2013-07-24 10:38:06 AM

Bashar and Asma's Infinite Playlist: Well there's another plan they could use: craft a political ideology based on sound, moral policy that is capable of winning national popular elections in the face of a changing electorate.

...


Prerequisites: capability of honest introspection, a certain measure of humility, ability to distinguish a "first principle" from a derivative principle, and the willingness to admit something they've espoused never worked in the real world.

So ... yeah, not bloody likely we'll see it happen anytime soon.


... That or keep fighting windmills.


Of course they'll choose the road more traveled.
 
2013-07-24 10:43:12 AM
Poor people will have to start making better political donations. As Michelle Bachmann would say; they need some skin in the game.
 
2013-07-24 10:44:11 AM
I'm surprised that they have time for this what with their laser-like focus on jobs.
 
2013-07-24 10:44:26 AM
I hope everyone here is aware that the vast majority of Democrats are in bed with the banks as well.  While there are a few good people out there (on both sides of the aisle) the vast majority are not looking out for your interests.
 
2013-07-24 10:45:20 AM

Grungehamster: I really haven't seen a good explanation of the Republican objections to the Consumer Financial Protection Bureau



I think the talking point goes something like "O NOES BIG GOVMENT something something PRIVATE ENTERPRISE GOOD something something".

It's not a good explanation. They won't offer a good explanation, they've got dogma. ... which is pretty insulting and arrogant and cynical of them, when you think about it.
 
2013-07-24 10:45:59 AM
Their plan is to try and paint Obama as the author of all the NSA business. And that's it. That's all they have, and pretty much everyone in the universe knows the GOP put that set of laws in place, so even if Obama is a dick for still doing it, it's ultimately Bush's fault =p

This guy. I can't believe anyone in the universe would vote for this turd. Seriously, illegal to go down on my woman, put into law by someone whose name sounds like a cooche. I'm guessing he is a closet gay.
 
2013-07-24 10:49:33 AM
bah mispost/wrong thread, was supposed to be in the anti-oral sex guy thread =p
 
2013-07-24 10:50:15 AM

Grungehamster: I really haven't seen a good explanation of the Republican objections to the Consumer Financial Protection Bureau.


Republicans are pro-corporate corruption.

No, really though, they hate any regulation on business or consumer protections.  That's easy to remember and relatively true.
 
2013-07-24 10:50:56 AM
"Our list of reasons for even the most remedial of banking reform will block out the sun, Teatard."

"Then we shall derp in the shade."
 
2013-07-24 10:51:58 AM
Are you for 86, GOP?
 
2013-07-24 10:52:42 AM

Mandabunny: Republican's continuing war on the fight to save the practices of Wall Street. While they push the BS onto the disenfranchised about Gay Marriage and Abortion and immigration. Keep money flowing in from all the moral issues then spend it on protection of Corporate interests, and Oil lobbying. fark them all.


Yep. Keep the herd distracted. You won't see them rob you when you are looking the other direction.


indeed, fark them all
 
2013-07-24 10:52:55 AM
If the CFPB is allowed to move forward and the businesses that fall under it are no longer able to take advantage of morons and rubes, they will be forced make up for that loss by taking it out of the pockets of real Americans.
 
2013-07-24 11:00:52 AM
When the tab opened, the page title read "The GOP's plan B to kill Elizabeth".  That's probably closer to what they'd like to do.
 
2013-07-24 11:12:12 AM
Big banks! Big banks!! Big banks!!!
 
2013-07-24 11:14:10 AM

Debeo Summa Credo: Big banks! Big banks!! Big banks!!!


Thanks for identifying the only things the Republican party cares about.
 
2013-07-24 11:15:24 AM

imontheinternet: Who cares if a few million people get defrauded by banksters?  It's not like that could cause a massive economic collapse or anything.


Millions of people being defrauded by banksters caused the economic crisis. This is what farklibs actually believe.

And idiots like this are exactly the type of people who are duped by grandstanders like Warren.
 
2013-07-24 11:17:05 AM

gnosis301: HotWingConspiracy: The GOP has a plan

Well no worries here.

Is it a ... cunning ... plan?


i560.photobucket.com
 
2013-07-24 11:17:32 AM

Philip Francis Queeg: Debeo Summa Credo: Big banks! Big banks!! Big banks!!!

Thanks for identifying the only things the Republican party cares about.


What, don't you sometimes cry out somebody's name while they're f*cking you?
 
2013-07-24 11:18:14 AM
At what point is it OK to accuse the GOP of treason? How far do they have to go?
 
2013-07-24 11:18:43 AM

karmaceutical: But corporations are the most under-represented persons in the US.  There are what, 300 million citizens in the US?  Then number of good hearted corporations worth a damn are in the thousands.  You call that fair??


They make up for it by controlling a whole lot more of congress. The poor dears have no choice.
 
2013-07-24 11:18:44 AM

Debeo Summa Credo: imontheinternet: Who cares if a few million people get defrauded by banksters?  It's not like that could cause a massive economic collapse or anything.

Millions of people being defrauded by banksters caused the economic crisis. This is what farklibs actually believe.

And idiots like this are exactly the type of people who are duped by grandstanders like Warren.


Though those of your ilk still think poor black people caused a multi trillion dollar global financial meltdown, and the banks were the real victims.
 
2013-07-24 11:19:50 AM

palelizard: Dr Dreidel: Y'ever notice how no one freaks out when everything goes "according to plan", even if the plan is horrifying?

Some men just want to watch the world burn, particularly if they can watch it happen from the Moon Child space station.


Oh my hell
 
2013-07-24 11:28:31 AM
 
2013-07-24 11:28:31 AM

Debeo Summa Credo: imontheinternet: Who cares if a few million people get defrauded by banksters?  It's not like that could cause a massive economic collapse or anything.

Millions of people being defrauded by banksters caused the economic crisis. This is what farklibs actually believe.

And idiots like this are exactly the type of people who are duped by grandstanders like Warren.


Bankster predatory practices are what triggered the crisis, and you know it.  The fact that NINJA loans and balloon payments even exist is evidence of this.  If a con man swindles somebody out of their money and runs off, you don't place all the blame on the victim.  The ridiculous leveraging of bad assets is what made the crisis as bad as it was, which is another issue that Warren is trying to address.

You're being willfully blind in the defense of the criminals who caused the crash and are in the process of setting up the next one.
 
2013-07-24 11:32:47 AM

imontheinternet: Debeo Summa Credo: imontheinternet: Who cares if a few million people get defrauded by banksters?  It's not like that could cause a massive economic collapse or anything.

Millions of people being defrauded by banksters caused the economic crisis. This is what farklibs actually believe.

And idiots like this are exactly the type of people who are duped by grandstanders like Warren.

Bankster predatory practices are what triggered the crisis, and you know it.  The fact that NINJA loans and balloon payments even exist is evidence of this.  If a con man swindles somebody out of their money and runs off, you don't place all the blame on the victim.  The ridiculous leveraging of bad assets is what made the crisis as bad as it was, which is another issue that Warren is trying to address.

You're being willfully blind in the defense of the criminals who caused the crash and are in the process of setting up the next one.


THeeeereee'sss trouble in river city folks! With a capital T which Rhymes with P and that stands for POOOOOLLL!
 
2013-07-24 11:33:01 AM

somedude210: The GOP has a plan B to deal with Elizabeth Warren's

they're gonna abort her? They don't understand contraceptives that well, do they?

joking aside, GOP, come with me to camera 3:

Look, I get it. You don't like this lady because she beat the pants off Scottie2Hottie and is trying everything in her limited power to dismantle the class war you've carefully crafted these last 40 years. I get it, I really do. If I was some cartoonish supervillain, I'd be pissed too if some upstart came out of nowhere and started to kick my ass on things and break the reality I've cultivated for decades. I get it. It's like fighting Batman for all these years and "winning" when suddenly you've got Robin's mother kicking you in the balls and telling you to grow a pair. But I gotta say one thing, suck it up and eat a bag of dicks, you scruffy nerfherders.


odyssees.org

"Time for plan B!"
"I like plan C!"
"Plan D?"
"Plan D!"
 
2013-07-24 11:33:53 AM

Philip Francis Queeg: Debeo Summa Credo: Millions of people being defrauded by banksters caused the economic crisis. This is what farklibs actually believe.


The lies of Lehman were multifold. Three times, in late 2007 and the first half of 2008, Lehman used "balance sheet manipulation," according to the examiner's report, to hide debt of $38.6 billion, $49.1 billion and $50.4 billion.

That debt was made to disappear temporarily so that at the end of the quarter Lehman would not appear to investors, counterparties, regulators and rating agencies as a firm about to become insolvent. This lack of disclosure was substantive and "created a misleading portrait of Lehman's true financial health," the report states.


Goldman sold its clients mortgage backed securities while it was shorting them in anticipation of the crisis.
 
2013-07-24 11:52:34 AM
People Really need to understand the brilliance of what Barney Frank Did when crafting Dodd-Frank (it sure in hell wasn;t the doing of Wall Street lap-dog Chris Dodd) and creating the CFPB

First he set the agency up outside the appropriations process:  There is no congressional Committee that gets any say over the CFPB's budget, so no angry congressman can threaten to slash it if they get angery about what the Bureau does.   Instead they get an automatic draw from the profits of the Federal Reserve System (which are vast BTW), it was pitched to budget concious GOP'ers a a way to create the Agency without adding to the budget deficit, which, after their experience with DHS was very appealing to them.

Second, the Bureau was given status as a "independant regulatory agency"   a status it shares with things like the SEC, the FCC, the NRC, etc- basically agencies that Congress wants to administer a law without having to respond to poltical pressure..  However, Congress set those other agencies up to be more or less useless because they are all run by a group of Commissioners, and by law the Commissioners have to be equally split by party, so those agencies can get very little done.

Unique in the federal government however, the CFPB is an IRA with a single director.  This means it can move very quickly when it needs to and be very effective,   a bit of legal aracana most congressmen didn't bother trying to understand when they voted for the creation of the Bureau.  Add to that, that unlike say the FDIC or the Federal Reserve, the CFPB's mandate is ONLY to protect consumers, not to ensure the health and stability (and therefore profitability) of Banks

So now Congress is facing a nightmare, an effective, zealous protector of consumer's financial interests that has regulatory power over some of their biggest campaign donors, and one which they are powerless to influence or derail.
 
2013-07-24 11:52:53 AM

imontheinternet: Philip Francis Queeg: Debeo Summa Credo: Millions of people being defrauded by banksters caused the economic crisis. This is what farklibs actually believe.


The lies of Lehman were multifold. Three times, in late 2007 and the first half of 2008, Lehman used "balance sheet manipulation," according to the examiner's report, to hide debt of $38.6 billion, $49.1 billion and $50.4 billion.

That debt was made to disappear temporarily so that at the end of the quarter Lehman would not appear to investors, counterparties, regulators and rating agencies as a firm about to become insolvent. This lack of disclosure was substantive and "created a misleading portrait of Lehman's true financial health," the report states.

Goldman sold its clients mortgage backed securities while it was shorting them in anticipation of the crisis.


it's like selling someone snake oil to cure their cancer while simultaneously buying life insurance on that someone. You win either way. Who cares if the other guy died?
 
2013-07-24 12:07:01 PM

Mike Chewbacca: imontheinternet: Philip Francis Queeg: Debeo Summa Credo: Millions of people being defrauded by banksters caused the economic crisis. This is what farklibs actually believe.


The lies of Lehman were multifold. Three times, in late 2007 and the first half of 2008, Lehman used "balance sheet manipulation," according to the examiner's report, to hide debt of $38.6 billion, $49.1 billion and $50.4 billion.

That debt was made to disappear temporarily so that at the end of the quarter Lehman would not appear to investors, counterparties, regulators and rating agencies as a firm about to become insolvent. This lack of disclosure was substantive and "created a misleading portrait of Lehman's true financial health," the report states.

Goldman sold its clients mortgage backed securities while it was shorting them in anticipation of the crisis.

it's like selling someone snake oil to cure their cancer while simultaneously buying life insurance on that someone. You win either way. Who cares if the other guy died?


That's how Wall Street operates, and when everyone dies of cancer and their snake oil becomes worthless, the government subsidizes their losses and sends them on their way to do it all over again.
 
2013-07-24 12:11:18 PM
 
2013-07-24 12:20:37 PM
And the Boston Globe editorial yesterday about how Elizabeth Warren is a bunch of yap and little action got an instant red light here. That figures. Doesn't fit the tab narrative.

For 28 years we had a showhorse senator, John Kerry, better known for posturing on television (his unflattering nickname was "Liveshot") than getting things done. With her PR savvy and her lawyerly gift of gab, Warren makes for a worthy successor.
 
2013-07-24 12:25:17 PM

barneyfifesbullet: And the Boston Globe editorial yesterday about how Elizabeth Warren is a bunch of yap and little action got an instant red light here. That figures. Doesn't fit the tab narrative.


If she's truly all yap and no action, you and your banking friends have nothing to worry about.
 
2013-07-24 12:29:35 PM

Zeb Hesselgresser: Yes, because so far, whoooo boy, she's been a real terror.


She has PERSONALLY already cost the largest banks in the country over $20 Billion, that is not something they forgive, or forget.  How?  Well, when the Robo-signing scandal and it was clear the banks were knowingly and systematically committing massive fraud in the foreclosure courts, the attorneys-general of the states all decided to sue the banks together.   The banks came to them with a settlement offer that was eye-popping at the time:  They would voluntarily pay $5 billion to settle these claims.  The State AG's look poised to accept that offer when Lizzy, then interim director at CFPB decided to order a study from her economists that asked an inconvenient question:  So exactly HOW MUCH had the banks saved themselves by breaking the law and cutting corners?

Her economists  came back with an unimpeacheable study that showed the banks had saved themselves at least $20 billion by committing robo-sgning fraud.   Lizzy shared that witht he State AG's just before settlement negotiations were complete, and suddenly the bank's settlement offer went from $5 billion to $25 Billion overnight.
 
2013-07-24 12:34:07 PM

Debeo Summa Credo: imontheinternet: Who cares if a few million people get defrauded by banksters?  It's not like that could cause a massive economic collapse or anything.

Millions of people being defrauded by banksters caused the economic crisis. This is what farklibs actually believe.

And idiots like this are exactly the type of people who are duped by grandstanders like Warren.


Keeping in mnd that you know I've read more than a million pages of e-mails from all the principal players including the Secretary of the Treasury and Chairman of the FRB,  and primary source documents and economic analyses of what caused the financial crash of 2008 created by their employees, please once again enlighten me as to how any part of that impression is false
 
2013-07-24 12:51:08 PM
mjcdn.motherjones.com

Looks like he's trying to retract into his shell, and is profoundly disappointed to discover that he doesn't actually have one...
 
2013-07-24 01:00:15 PM

Magorn: Debeo Summa Credo: imontheinternet: Who cares if a few million people get defrauded by banksters?  It's not like that could cause a massive economic collapse or anything.

Millions of people being defrauded by banksters caused the economic crisis. This is what farklibs actually believe.

And idiots like this are exactly the type of people who are duped by grandstanders like Warren.

Keeping in mnd that you know I've read more than a million pages of e-mails from all the principal players including the Secretary of the Treasury and Chairman of the FRB,  and primary source documents and economic analyses of what caused the financial crash of 2008 created by their employees, please once again enlighten me as to how any part of that impression is false


Ah well, since someone isn't around....

bleep bloop...oligarch defender bot....defeated
 
2013-07-24 01:02:21 PM
PLEASE get off your asses and vote next year, folks. We cannot allow these evil pricks to take control of the senate.

VOTE YOU FARKERS
 
2013-07-24 01:24:37 PM

guestguy: [mjcdn.motherjones.com image 630x470]

Looks like he's trying to retract into his shell, and is profoundly disappointed to discover that he doesn't actually have one...


That collar looks to be incredibly tight.  Maybe it's cutting off the oxygen to his brain.
 
2013-07-24 01:39:30 PM

palelizard: That collar looks to be incredibly tight.  Maybe it's cutting off the oxygen to his brain.


He has to wear it that tight, otherwise his foreskin would flip up and smother him.
 
2013-07-24 01:42:38 PM

somedude210: The GOP has a plan B to deal with Elizabeth Warren's

they're gonna abort her? They don't understand contraceptives that well, do they?

joking aside, GOP, come with me to camera 3:

Look, I get it. You don't like this lady because she beat the pants off Scottie2Hottie and is trying everything in her limited power to dismantle the class war you've carefully crafted these last 40 years. I get it, I really do. If I was some cartoonish supervillain, I'd be pissed too if some upstart came out of nowhere and started to kick my ass on things and break the reality I've cultivated for decades. I get it. It's like fighting Batman for all these years and "winning" when suddenly you've got Robin's mother kicking you in the balls and telling you to grow a pair. But I gotta say one thing, suck it up and eat a bag of dicks, you scruffy nerfherders.


Jon, please come back to the Daily Show. I love John Oliver, but he's better in the field.
 
2013-07-24 02:21:08 PM

imontheinternet: Who cares if a few million people get defrauded by banksters?  It's not like that could cause a massive economic collapse or anything.


Remember though, it's not fraud because everything they were going do was written somewhere in that hundred page contract. You should have read and understood every single blah blah blah *jerking motion*
 
2013-07-24 02:22:43 PM
Lets just hope its not called "The Michael Hastings Plan"
 
2013-07-24 02:42:49 PM

wildsnowllama: imontheinternet: Who cares if a few million people get defrauded by banksters?  It's not like that could cause a massive economic collapse or anything.

Remember though, it's not fraud because everything they were going do was written somewhere in that hundred page contract. You should have read and understood every single blah blah blah *jerking motion*


That's why some of the most valuable work the CFPB is doing is getting VERY little attention: they are doing all sorts of cognitive testing on new kinds of model discloure sheets for mortgage loans, credit card argreements etc that will allow the average person to understand what they are agreeing to in plain English after just a couple minutes worth of reading
 
2013-07-24 02:51:57 PM

DarkSoulNoHope: Jon, please come back to the Daily Show. I love John Oliver, but he's better in the field.


thank you for comparing me to Stewart, but I'm not Jewish or a good comedian. I do make my Jewish girlfriend laugh though, so that's something right?
 
2013-07-24 04:39:02 PM

somedude210: DarkSoulNoHope: Jon, please come back to the Daily Show. I love John Oliver, but he's better in the field.

thank you for comparing me to Stewart, but I'm not Jewish or a good comedian. I do make my Jewish girlfriend laugh though, so that's something right?


Ooooooh, buddy, I'm sooooo sorry.

calvinayreap.com
 
2013-07-24 05:20:13 PM

Mike Chewbacca: Ooooooh, buddy, I'm sooooo sorry.


hahaha, I was expecting that.
 
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