Barney Frank discusses the Consumer Financial Protection Bureau in 2018

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[00:00:00]Is it doomed? The thing you set up, Dr. >> deal.

[00:00:03]As much as the conservatives hate it, let's be clear what they hate about it.

[00:00:08]It's been very successful. Chris had the statistics we were talking about how much money they brought in for people.

[00:00:13]There is this philosophy that goes back >> billion in relief to over 31 million consumers is the claim. The It goes back to Ronald Reagan's "Government is not the answer to the problem. Government is the problem."

[00:00:27]It's deeply rooted in conservative philosophy that the private sector brings all the good and the government does only harm.

[00:00:34]And here is a case where the government is protecting citizens against the private sector.

[00:00:40]And they hate that the way the devil hates holy water. It is absolutely It hurts their theology. So, that's why they get so excited about what's really not the major piece of the bill. And um so, what they're doing is not enforcing it, but here's the point. It's still so popular that for all that they hate it, there's been no legislative effort to diminish its powers or change its structure, unlike health care where they kept doing that. And so, yes, as long as Donald Trump is president, it won't lose its powers.