5 ms·
It’s different from the FTC because its funding comes directly from the federal reserve. So it’s independent of both the President and Congress. It’s more ind
by pyuser583 3y ago
It’s different from the FTC because its funding comes directly from the federal reserve.
So it’s independent of both the President and Congress.
It’s more independent than many courts.
What could possibly go wrong?
- kadoban 3y ago> What could possibly go wrong? They might accidentally get something done that helps people?
- tivert 3y ago>> What could possibly go wrong? > They might accidentally get something done that helps people? Since you're missing the point: make me dictator, so I can finally get stuff done that helps people. Too much independence is a recipe for serious problems, even if (theoretically) it could be used accomplish major things.
- kadoban 3y agoIf there's serious problems, then Congress can act. The structure just makes it harder for Republicans to kill it quietly for an unsupportable reason.
- butlerm 3y agoIt is quite difficult for Republicans to reverse any act of Congress without another act of Congress. The assent of the House, the Senate, and (usually) the President is required.
- kadoban 3y agoAnything that specifically needs a law passed to undo it is safer than one that can just have its budget ~zeroed out in the yearly budget, or any of the more-than-yearly CRs and debt-ceilings and whatever other nonsense negotiations. This is for both reasons of public scrutiny (there's so much in the budget that it's easy for things to get relatively lost), but also because the budget, in practice, just needs 50+1 votes. Usual laws need 60 due to Senate procedures. Ignoring the House since there's not much difference there.
- deleted 3y ago[deleted]
- rgbrenner 3y agoIt’s different from the FTC because its funding comes directly from the federal reserve. So the CFPB--a bureau within the federal reserve--cannot be funded by the federal reserve? So it’s independent of both the President and Congress. Just like the federal reserve. The federal reserve doesn't just set interest rates and lend money... they're also tasked with regulation of the financial system. So it makes sense that the CF(inancial)PB would be part of it. In fact, the creation of the CFPB was just the consolidation of work done by several bureaus, including the federal reserve. Kind of like when DHS was created--just a reorganization.
- pyuser583 3y agoThe Federal Reserve is quite different from the FTC, so my statement still stands.