Why Aren't The Tea Parties Upset About Republicans Gutting the CFPB

I am curious as to why the Tea Party members aren't upset about Republicans' efforts to undermine the Consumer Financial Protection Bureau (CFPB). The Bureau is a watchdog to ensure that banks and investment firms don't repeat the mistakes/unethical/criminal conduct they made in the recent financial meltdown. 

The regulations will ensure that banks have sufficient assets to weather bad loans, less incentive to make these toxic loans and bundle them into even worse investments for others. The regulations will also prevent Goldman Sachs and others from lying to their customers about the viability of their investments while betting against the investments they advised them to make and thereby making a fortune off their customers' losses.

Republicans in the House passed legislation that would enable any regulations to be easily repealed, and to replace a director of the bureau with a 5-member commission to ensure that each regulation is diluted by committee action. They say that they passed this stuff to ensure that they have a watchdog watching the watchdog, but it is clear what they want to do is let the banks continue their predatory practices that brought the global financial market to its knees.

They are being aided by almost $19 million in contributions from the banks and the US Chamber of Commerce (which has the distinction of having very few actual corporate members because of its incredibly far right wing politics).

Given the Tea Partiers hatred for financial chicanery, why aren't they demanding that the Repubs support the CFPB and provide average Americans with protection from the greed of these institutions? Some blame the poor, because clearly the poor have such great leverage that they were able to force banks to make these upside down loans. Who knew that banks would quail before the mighty poor and make loans they knew were bound to fail. It's not like they have the power to deny a loan to someone not qualified. 

You'd think that for the 6 years when Repubs had control of the House, the Senate and the Presidency, that they would have put in place regulations to allow banks to fight back against the domination of our financial sector by the poor. I guess they were too distracted by eliminating our Constitutional rights to fight terrorism. Or perhaps they were distracted by the huge campaign contributions the financial institutions made to allow them to not only make these toxic loans, but also to package them for sale to others who then sold them to others, etc. until the bubble burst and we taxpayers had to bail out their sorry asses.

Wasn't that why the Tea Parties were formed to fight against the things that caused this huge bailout? Maybe they are being distracted by gay marriage, since one Tea Party linked this issue to our economic woes. So, now it's the gays who are the problem - and probably public school teachers. But never the banks. So that's why they don't need to be regulated. I can only guess because the silence from the Tea Parties on this issue is deafening.

Do Not Piss Off An Ant

Yesterday, as I was preparing to move some Earthboxes (fantastic little portable garden beds) next to our house, I paused to rip out some weeds growing up through our driveway. After one huge clump, I noticed a horde of ants erupting from the now cleared crack and I was pointing this out to my wife, when I felt a series of sharp stings. Pulling up my pant leg, I saw a number of the little critters on my legs, and my shoes were also covered with ants.

Running to the back of my house, I disrobed as quickly as possible and raced to the shower. As I scrubbed away the dozens and dozens of ants on my legs, arms and even my naughty bits, I could feel each and every vengeful bite these little scutters exacted on my flesh. Even after I washed them off me and got out to towel off, one last ant clung to my arm and instead of fleeing for his life, he bit down giving his all for revenge against the monstrous being who wrecked his nest.

My wife poured vinegar over the sidewalk crack and we watched in amazement as the ants fled, but with a purpose. Many carried items that were obviously going to be useful in their new nest, while others formed lines to create an orderly evacuation from what was their version of Japan's recent earthquake and tsunami disasters.

Today, when I took my shower and noted the little red marks all over me, I was struck with admiration for these creatures. They suffered a humongous - almost Biblical - catastrophe, yet they reacted with purpose and determination. Some gave their lives to protect the nest and attack the source of their tragedy - moi - while the rest proceeded to leave carrying with them the essentials for their new home. Perhaps some were frozen in horror like many of us in times of dire circumstances, but most of these tiny creatures did what needed to be done.

Indeed, we have more in common with the creatures we have dominion over - and that dominion is as shaky as a host of ant bites - then we have differences. So, as I scratch the remnants of the tiny scars of their righteous vengeance, I say, "Well done brave critters and I am sorry I rained destruction on you. I will be more careful from here on."

Banking Scandal Gets Personal

For those of you who defend the "free market system" and the glories of capitalism, here's an example of how failed that is from my backyard.  In our small county here in NC - we have 200,000 residents in the city and county combined - our Register of Deeds has determined that 4,500 mortgages have been falsified by Bank of America, Wells Fargo and about 20 other major banks. These mortgages have been signed off on by fictitious people - people who have never worked for the bank of record. There are some so-called vice presidents who have signed off on documents with 25 different and distinct signatures. Not only that, but these same people evidently held vp positions at 3 or more banks at the same time.

Our Register of Deeds has forwarded his findings - and suspects up to 3,000 more fraudulent mortgages will be found - to federal, state and local governments, as well as to the task force comprised of AGs from all 50 states. The banks claim that the fraud was perpetrated by the companies they subcontracted the mortgages to, so they aren't responsible. As if they aren't responsible for vetting the people who process their mortgages.

This whole mortgage mess is what happens when capitalism is allowed to exist without regulations or with no fear of any consequences when they ignore existing regulations. They blame the poor for somehow forcing them to offer mortgages to people who cannot afford them. I have purchased 2 houses in my time and both times the banks required extensive proof of my income - not just pay checks but bank statements, tax returns, credit checks, etc. These seem like normal, accepted practices.  But somehow poor people managed to outfox these banks by providing no proof of income and the bank officials signed off on the loans. Sometimes, the poor were so wily that they managed to trick the bank officials into creating a mortgage application with fictitious salaries without ever meeting with the bank official prior to the loan's being approved. If we could only harness the poor's mighty powers for good.

Then, the banks took all of these toxic loans and sold them to investment firms who packaged them into toxic bundles. They were aided and abetted by rating companies like Standard & Poors who gave these sham mortgage packages top level ratings. These toxic investments were then sold and re-sold until the bottom fell out.  And the banks paid dearly - they got taxpayer money to keep them from failing.  But not to keep them from paying bonuses to the executives who were responsible for this mess. Some of these investment companies actually bet on the failure of these toxic bundles, knowing full well that the mortgages would not hold water. So, they colluded with the banks to profit on other people's misery. Now, Republicans are battling to keep these banks and investment firms from suffering from regulations that will require them to conduct their business in an honest and ethical manner because doing what is right and legal will cut into their profits. You can't fetter capitalism with burdensome rules that interfere with creative ways to rip off average Americans.

All you Ayn Rand supporters must be ecstatic to see her enlightened self interest being practiced so diligently by these captains of finance. However, you might have lost a convert. A local county commissioner here in my home town found out from our Register of Deeds that a property he had paid off 7 years ago was in foreclosure because of a loan he hadn't paid off.  The fact is he never took out said loan, and the fact is that the loan was signed by a vp like the one referenced above with the multiple vp positions for several banks and the multiple signatures. So this tea party stalwart, Republican conservative, working man now wants the heads of Bank of America, Wells Fargo, Citibank, etc. on poles to be displayed in his front yard.

I guess that's where capitalism unfettered goes south, when it turns on one of its own. Here's a great idea - based on the banks' performance, why don't we privatize utilities so that they can be capitalistic profit machines. There couldn't be any harm in that, could there?

Lawdy Lawdy Sharia Law Is Coming

Run for your lives, the Muslims are going to impose Sharia law on all of us.  Though they only make up about 2% of our population, and there are as many interpretations of Sharia law as there are Imams, somehow this small gritty, but disorganized group is going to overthrow our government and eliminate the Constitution and put in place such things as praying daily to God. Since they are such a small portion of our populations, they are going to have to rely on Muslim versions of Gomer Pyle to jump out shouting, "Citizens Sharia law, Citizens Sharia law."For the Republicans it's a great issue. There is no likelihood of this ever transpiring, but they can sure scare their base - and independents they hope - into believing it's a real threat.  And, of course, only they are mighty enough to fend off this nefarious scheme.

Republicans always need a bogeyman to enable them to keep the electorate from focusing on their policies and programs.  Because when people do check out what the Repubs are proposing, they get alarmed - i.e., Paul Ryan was booed by his own constituents after they read his budget plans for the country. So, the Repubs need Blacks and Commies (in the 50s), feminists and hippies in the 60s, socialists in the 70s through the 80s, gays in the 90s, and terrorists in our current age.  All of these groups are characterized as less than human, but superhuman in their effects on average Americans.

They shout that if Democrats get their way, why Blacks will marry White women. Everyone will be smoking dope and wanting peace or unisex bathrooms. Everyone will have healthcare and gay marriages will split up heterosexual marriages worse than adultery.  And, we might have to look at why we unquestioningly support a nation that spies on us, steals our intelligence secrets, infiltrates our government agencies and kills women and babies in the name of self defense.

Of course, our support for Israel is mainly due to the Christian right, who needs Israel to survive until Jesus comes back and we can kill all of them Jews - hot damn!

About a Response

Triker responded to one of my recent blogs about NC being saner than Tennessee.  His comment is below:

As another Tennessean, I have to agree with your assessment of Tennessee lawmakers. However, I have to disagree with your "Bruce Willis" civilian vigilante example. 

In Georgia the law permits you to carry your weapon most places. However it doesn't allow you to have your gun at an establishment that sells alcohol for consumption on premises. Also excluded are government buildings, political rallies,and polls. Also private property owners (malls, stores, etc) can post signs that forbid firearms. (The Mall of Georgia is an example of a gun-free Mall)...

My point is that there hasn't been a widespread increase in shootings in Georgia. Nor has there been a single report of a hand-gun being used in a violent crime by anyone with a carry permit.

I believe that is because of screening gun owners here at the point of sales with an even more intense screening for those who have carry permits. 

I know that we are speaking generalities here.

Enjoyed your observations...


Enjoyed your response Triker, but the Tennessee law I was referring to does allow weapons in bars and seeks to override the objections of businesses that want to ban guns from their establishments.  In addition, some states do not require any training or accept military service in lieu of training for a concealed carry permit.  I think my point is still valid.  No amount of screening can determine how a person will use his/her weapon in a time of crisis.  A bystander at the shooting of Congresswoman Gifford came within a hair of shooting the other bystander who had wrestled the gun away from the shooter. He didn't know who was innocent and almost shot one of the heroes of this incident.  


If concealed carry permits were the great blessing that you guys think they are then why are so many police against them.  These police cite the fact that armed civilians confuse an already deadly situation, forcing the cops to make decisions about which armed person is the criminal and which one isn't.  A person with a gun is a person with a gun.  No white or black hats available.


As to the judgment of a concealed carry permit holder, well a couple of years before this law was proposed, two concealed carry permit holders shot each other to death in an Appplebee's parking lot over a parking space.  The permit didn't make either man more responsible or less prone to rage.  It did allow them to kill each other.  Additionally, most states  do not keep statistics on crimes by permit holders, but given the number of domestic shootings (there have been one every week in Greensboro for the last month, where the husband ends the argument with the wife using the Glock manifesto), I would be willing to bet that a percentage of these tragedies were committed by permit holders.


All this being said, I have no argument against conceal carry permits within reason.  There are many legitimate reasons for someone to responsibly protect themselves.  However, to allow people to carry weapons into establishments where the likelihood of being attacked is less than the odds of being attacked by a crazed otter does not give me a sense of security.  Add to that the fact that this law allows these permit holders to go into establishments serving alcohol is asking for trouble.  After all, if I am carrying what's one beer - or two.  I am truly glad there have been no tragedies based on permit holders' actions in Georgia so far.  But that state seems to be saner than Tennessee, too.

Glad to Be in NC

As a former Tennessean - and glad to have that status given the kinds of laws now popular in that state - I do keep up with goings on there, especially in the legislature.  This year, Tennessee legislators have outdone themselves.  They have tried to outlaw Muslims, and when they found that this law was - well, unconstitutional - they changed it to allow the governor or AG to designate any organization, person or other entity a terrorist supporter.  There is no provision for providing any proof that would merit this designation.  In fact, it would be done secretly with no public oversight.  The law would enable the gov or AG to freeze and seize assets, surveille people and even arrest them, all without providing evidence or a recourse for the people to appeal the process.  Since the sponsors of the bill let a hate group, with a decided anti-Muslim bias, draft the legislation, you know who they want designated.

There is also a  bill to allow science teachers to teach Creationism - it's artfully worded, but the upshot is to allow alternative theories, whether scientific or not, to be a part of science education.  Because you want a Creationist-trained physician doing your triple bypass don't you.  Another bill would restrict sex education classes to only discussions about heterosexual sex - if teachers aren't allowed to say the word gay, then all gays will disappear, I guess.

What really boggles the mind is the spate of legislation that would allow anyone with a Conceal/Carry permit to take their weapon basically anyplace - schools, churches, parks, workplaces, restaurants and even bars.  Their argument is that when the evil ones come to these places to slaughter the innocents, the Concealed/Carry people will automatically turn into Bruce Willis, able to spin on the floor while deftly killing bad guys and never wounding or killing bystanders.  Because a permit and a few hours of training gives every one of these gun owners these magical powers.  They will never lose their cool or their uncanny ability to aim and fire accurately under conditions that might be termed stressful.

Recently, the head of one of Tennessee's college police departments spoke out against this law arguing that even trained policemen have a hard time being that accurate or coolheaded simply because life and death situations are extremely tense.  He also added that armed civilians present a huge dilemma for police because they are trained to take down armed civilians, especially when there are reports of an armed civilian killing people.  So, how are they to tell the armed good guys from the armed bad guys.  The reaction of some Tennesseans was to call into question the constitutional rights of a police officer to consider an armed civilian a threat.  I guess the cops are supposed to conduct an investigation to determine if the guy brandishing a weapon in TGIF is safe or not.  Try pulling a gun while a police officer is around and telling him he has no constitutional right to shoot you and let me know how that works out for you.  In NYC, a guy got shot 42 times for holding a cellphone.

Some Tennesseans argue that Conceal/Carry permit holders would never break the law by taking a drink while packing, because as everyone knows the greatest fun on a Saturday night is to go to a bar and drink club soda while vigilantly looking out for the ones who are drinking.  All of this nonsense is predicated on the notion of self defense, although even with high profile mass shootings, the odds of being attacked at Applebys is much less than 1%.  It's like erecting a wall around a city to keep out Raptors just in case someone is able to make Jurassic Park a reality.

All of this is not to say that people in NC are saner - although the fact that we elect Democrats more often might be proof of said sanity.  It's just that Tennessee tends to elect people who make Donald Trump look like a serious world leader.  This started happening after I moved, so I can only determine that I was the one who was responsible for electing people with IQs above room temperature and when I left - well, I ain't going back, so people of the Volunteer state are going to have to live with the oatmeal brains they elected.  I will stick to a place where basketball outranks every other social or political issue.  There's something comforting in that.

Swift Justice

In response to, primarily conservative, calls for swift justice, there is a guy here in NC released from death row after 16 years, where he twice was hours away from execution. I'll bet he is glad justice wasn't so swift.  Turns out the DA neglected to mention witnesses that placed the guy at another place at the time of the crime.  Plus, our state bureau of investigation had in place rules that allowed them to report preliminary findings to the DAs, but if subsequent testing proved negative, they routinely didn't pass this info along.  The guy who was convicted was put away because a witness - who it turns out is now probably the killer - received a plea bargain to testify against the him.  Blood evidence was introduced which sealed the deal, until it turned out that the tests were false and subsequent tests determined that it wasn't the dead woman's blood on his clothes. 

The upshot is that this guy spent 16 years of his life behind bars, came very close to being executed, all for something he didn't do.  In addition, 100s of cases that involved our state's crime lab are now being reviewed because of this quaint practice of only providing the prosecution with evidence that supports conviction, while suppressing any negative results on that evidence.

The question I ask is - based on the numerous cases of people being released from death row due to DNA testing or the uncovering of prosecutorial misconduct - how many innocent people, who are executed in the name of swift justice, are acceptable collateral losses.  The Supreme Court has issued a "Get Out of Jail Free" card to prosecutors, because Harry Connick, Sr. (yes he's Jr.'s father) convicted a man through gross prosecutorial misconduct. Even though there were multiple acts of negligence and even distortion (a pattern that had been in place for decades), Scalia, Thomas and the rest of the conservatives decided that those little goofs, even though they almost cost a man his life, were mere peccadilloes and that the man had no recourse to sue Mr. Connick.  Now prosecutors know that they face no punishment for misconduct, so how likely is it that they will pursue a conviction using unethical methods if they know that even if their misconduct is uncovered the only one who suffers are the innocent who are jailed.

Swift justice does not equate to real justice, unless the purpose is to increase executions with the understanding that it is acceptable that there will be some innocents who are killed in the process.  If you can live with that fact, then may justice be swift for you and yours.