Last week the Consumer Financial Protection Bureau, through the power of Dodd-Frank, passed a rule giving the agency unprecedented power to shut down businesses, no matter what the reason, at any time it wishes through a cease-and-desist order.The key phrase here is "passed a rule". The agency seems to require no other justification that that it will please the president. No immediate information as th which businesses they plan to shut down but in addition to the usual stuff the puritans want to close like "gentleman's clubs" , payday loan operations, gun stores, and dirty book stores, there's private schools and guitar makers who donate to "terrorist" causes, like the Republican party.
It's good to be able to write your own rules as you go along as the EPA has shown us, and the only relief from unbridled power grabs like this is legislative. Of course the House can prohibit, and Harry reid can delete the prohibition, so BOLO for the next 2 years.
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