Name:	lucky67 -	Reply
Subject:	Trump & regulatory environment--my take
Date:	11/15/2016 11:30:15 AM

One of his campaign pledges was to reduce regulations on businesses; i hope he starts with the CFPB--created in 2010 as part of the DODD -FRANK (both close  friends of ex Countrywide CEO Angelo Mozillo) Wall Street Reform & Consumer Protection Act; its main proponent was SEN Eliz Warren who was appointed as Special Advisor to the Treasury Dept (##??); this new Agency reports to the Federal Reserve yet 56 "managers " have salaries that well exceed that of the Fed RESERVE DIRECTOR; the Agency started in 2011 with 663 employees & a budget of $162 mill; its FY 2017 budget is $636 mill & they now have 1623 Employees; its Strategic Plan alone is 116 pages; This Agency has strangled the Lending Industry, put lenders and employees out of business, while procaliming "its serving the Consumer"; The regulations/Reporting  would strangle a COW ;

I have been in lending all my life, serve as a consultant/expert witness on Financial fraud, President of Bank & mortgage companies, served on state & national committees, speaker at national conferences,& have performed work for Federal & State Regulators, yet when nominated to the CFPB in 2015, i was passed over for a LAW PROFESSOR who has never made a loan in his life,but was from a Prominent Senators home state.

while there were bad lenders who contributed to  a meltdown in 2008--my question was & remains--where were the Regulators then ???

had they done their job, the meltdown might not have happened. Anyway, the CFPB is a beaucracy like all new agencies created by the FED GOVT; large staff, big salaries & mounds of regulations that stifle growth.

 Time has come to dismantle this Agency

Name:	GoneFishin -	Reply
Subject:	Trump & regulatory environment--my take
Date:	11/15/2016 1:55:34 PM

You seem pi##ed cause you did not get the appointment.  At the time, you had no problem becoming part of a growing government regulatory agency. I wonder how you would  feel todau if you had been appointed and were part of the problem you described???

Name:	wix -	Reply
Subject:	Goof-krap.....
Date:	11/15/2016 3:41:24 PM

Kinda like you would feel today if you had won that election as a Republican, instead of losing.  Like a fish outta water.....

Name:	lucky67 -	Reply
Subject:	Goof-krap.....
Date:	11/15/2016 6:17:46 PM

GF--No i am not pissed-dissapointed YES-I never  expected a non qualified guy,   a beaucrat  , with NO practical experience would get the appointment--HAD I been appointed, you can bet your sweet A_ _ I would have fought to unwind some of the ridiculious regs the CFPB has instituted--; HEY--GO APPLY FOR A MORTGAGE & GET BACK TO ME WITH YOUR INPUT--YOU WILL SEE HOW THE OBAMAS MINIONS HAVE  INSTITUTED A POLICY WITH LENDERS OF "FEAR & TRUST NO ONE';

SO THERE YA GO--BY THE WAY--I WAS ASKED TO SUBMIT ANOTHER REQUEST FOR MEMBERSHIP !! BUT NO THANKS--ITS AN AGENCY OFF THE RESERVATION

Name:	Talullahhound -	Reply
Subject:	Goof-krap.....
Date:	11/15/2016 9:04:23 PM

It's the nature of government to go so far in one direction, only to have a crisis and then knee jerk back in the other direction.  Anything done by knee jerk and without thought, it's going to create another disaster. 

As to what happened with you and the appointment, it would appear that they decided to go with a political appointment, rather than what was needed.  That is another thing with government - they have this idea that getting "fresh eyes" on the problem is somehow better than getting someone who knows someone. Spent a lot of time working with Political Appointees and it is almost always the same.  It becomes exhausting trying to teach them what they should know and that there is a reason why their solution won't work.  If it did, it would have already been done.  Then they decide that they need to leave and go out and make "some real money".