A Satirical Paean to the CFPB

Todd Zywicki, a professor at George Mason University’s Antonin Scalia Law School, has written one for The Wall Street Journal.

Yet despite its rocky start, the original promise of the CFPB is sound: to protect and empower consumers, promote fair and competitive markets, and stabilize the financial system.

At least, I hope it’s satirical; it’s hard to believe that Zywicki could be this naive.  Some examples:

Working with the private sector and Congress to reverse this growing exclusion of Americans from the financial sector is a moral imperative.

To turn Herb Croly’s words around a bit, the average Federal bureaucrat is morally and intellectually inadequate to serious and consistent conception of his responsibilities as a democrat.  The private sector needs no Congressional or bureaucratic organization to function inclusively; it needs only a free market unhindered by bureaucrats’ intrusions.

The bureau can help unleash the power of FinTech by invigorating dormant tools like the no-action letter program and Project Catalyst….

Sure—the bureaucracy should do better by pushing other bureaucracies. Gotta be satirical, right?  Right?

The CFPB should concentrate its efforts on empowering families….

[Sigh]  Not by differently purposing an intruding a bureaucracy, but by getting rid of it.  Sounds like Zywicki was serious rather than satirical.

The CFPB must go.

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