Recently, a group sued to shut down the Consumer Financial Protect Bureau. This agency was created during the Obama administration. It not only has great power to regulate banking, but it does not have to get congressional approval for funding.
The CFPB can take as much money as it wants from the Federal Treasury.
Americans claimed this violated the Constitution. It gives the CFPD unchecked power to create its own budgets and use tax dollars to penalize banks. The issue reached the Supreme Court where, to the shock of many, conservative Justice Clarence Thomas voted to protect the CFPD. Now, people are claiming he did this.
From Fox News:
When the Supreme Court decided last week to keep the controversial Consumer Financial Protection Bureau (CFPB) funded, some were surprised that Justice Clarence Thomas split from some of his conservative colleagues, writing the majority opinion to keep the CFPB intact…President Barack Obama said in 2011 that the agency “was Elizabeth’s idea, and through sheer force of will, intelligence, and a bottomless well of energy, she has made, and will continue to make, a profound and positive difference for our country.”
Not only did Clarence Thomas vote with liberals to protect the CFPB, but he also wrote the court’s opinion. Other conservative justices said that the CFPB’s ability to write checks violates the Constitution’s Appropriation Clause.
Thomas pushed back, claiming the dissenting opinion is faulting “us for consulting dictionaries to ascertain the original public meaning” of the term appropriations. Since the country’s founding, government agencies must go to Congress yearly requesting money.
Only the CFPB can take as much cash as it wants from the government. That alone should bother Americans since this group has the power to control what banks can or can’t do.
Critics are accusing Thomas of protecting “Elizabeth Warren’s baby.” It was this socialist senator who was largely responsible for the creation of this regulating body. She was behind the effort to make this agency a reality. Even President Obama credited her “bottomless well of energy” for this arguably unconstitutional agency.
It is unknown why Thomas would turn on conservative principles to protect what many believe to be a socialist government body.
Key Takeaways:
- Supreme Court Justice Thomas is facing heat for protecting the Consumer Financial Protection Bureau.
- People are accusing the conservative justice of protecting “Elizabeth Warren’s baby.”
- The agency was created in 2011 thanks to Sen. Warren’s efforts.
Source: Fox News
