Fannie Mae-No Politics (FNMA)

[Robert from yahoo bd]

"“[T]he structure and powers of this agency are not something the Founders and
Framers would recognize. By structuring the Bureau the way it has, Congress
established an agency primed to ignore due process and abandon the rule of law in
favor of Bureaucratic fiat and administrative absolutism.

The best that any Bureau director can do on his own is to fulfill his
responsibilities with humility and prudence, and to temper his decisions with the
knowledge that the power he wields could all too easily be used to harm
consumers, destroy businesses, or arbitrarily remake American financial markets.
But all human beings are imperfect, and history shows that the temptation of
power is strong. Our laws should be written to restrain that human weakness, not
empower it.

I have no doubt that many Members of Congress disagree with my actions …, just
as many Members disagreed with the actions of my predecessor. Such continued
frustration with the Bureau’s lack of accountability to any representative branch
of government should be a warning sign that a lapse in democratic structure and
republican principles has occurred. This cycle will repeat ad infinitum unless
Congress acts to make it accountable to the American people.”
42

Footnote 42: 42 CFPB, Semi-annual report of the Bureau of Consumer Financial Protection 1-2 (Apr 2, 2018),
https://files.consumerfinance.gov/f/documents/cfpb_semi-annual-report_spring-2018.pdf.