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Jim Schultz Appears on CNN’s ‘AC 360’ To Discuss the CFPB Appointment

Name: CNN


Anderson Cooper 360

Name: Anderson Cooper 360


Anderson Cooper

Name: Anderson Cooper

Employment: CNN

Position: Host

, Jim Schultz

Name: Jim Schultz

Event location
11/27/2017 11:39 pm
MP4 (1920x1080) Use clipper to adjust file type
RUSH TRANSCRIPT In another ░░░░░░░░ bizarre story tonight the ░░░░░░░░ for the top job ░░░░░░░░ the consumer financial protection ░░░░░░░░ or the cfpb in ░░░░░░░░ remarkable power struggle the ░░░░░░░░ House pick for acting ░░░░░░░░ current budget director Mick ░░░░░░░░ says he s in ░░░░░░░░ while the agency s ░░░░░░░░ director s choice Leandra ░░░░░░░░ says she is in ░░░░░░░░ Both sent all staff ░░░░░░░░ e mails today each ░░░░░░░░ off acting director while ░░░░░░░░ in coke Mulvaney voted ░░░░░░░░ favor of killing the ░░░░░░░░ entirely and has since ░░░░░░░░ with President Trump to ░░░░░░░░ back some of the ░░░░░░░░ s rules bring back ░░░░░░░░ the panel also joining ░░░░░░░░ is Jim Schultz a ░░░░░░░░ White House ethics lawyer ░░░░░░░░ the Trump Administration also ░░░░░░░░ chief legal analyst Jeffrey ░░░░░░░░ So Jeff the dodd ░░░░░░░░ act states the deputy ░░░░░░░░ shall serve as acting ░░░░░░░░ in the absence or ░░░░░░░░ of the director So ░░░░░░░░ shouldn t the president ░░░░░░░░ able to point a ░░░░░░░░ Because there s a ░░░░░░░░ law that says that ░░░░░░░░ deals with all vacancies ░░░░░░░░ says that the president ░░░░░░░░ to fill the vacancies ░░░░░░░░ s actually and there ░░░░░░░░ a question about whether ░░░░░░░░ law publishing the consumer ░░░░░░░░ is actually constitutional at ░░░░░░░░ So it s a ░░░░░░░░ complicated legal situation I ░░░░░░░░ you know followed the ░░░░░░░░ I think there are ░░░░░░░░ very good arguments on ░░░░░░░░ sides But it s ░░░░░░░░ to remember as we ░░░░░░░░ about this what s ░░░░░░░░ going to happen here ░░░░░░░░ Donald Trump is going ░░░░░░░░ get to put someone ░░░░░░░░ eventually He s going ░░░░░░░░ put someone in who ░░░░░░░░ be confirmed my the ░░░░░░░░ This bizarre controversy will ░░░░░░░░ And then this bur ░░░░░░░░ is basically going to ░░░░░░░░ This idea it was ░░░░░░░░ Warren s idea to ░░░░░░░░ a consumer bureau is ░░░░░░░░ going to be killed ░░░░░░░░ this administration And that ░░░░░░░░ me is a much ░░░░░░░░ story than who s ░░░░░░░░ acting director for the ░░░░░░░░ month or two Let ░░░░░░░░ ask you according to ░░░░░░░░ frank will serve in ░░░░░░░░ or unavailability of the ░░░░░░░░ Why isn t it ░░░░░░░░ same thing as absence ░░░░░░░░ unavailability This is the ░░░░░░░░ s power I think ░░░░░░░░ s a pretty simple ░░░░░░░░ question The vacancy act ░░░░░░░░ just that It references ░░░░░░░░ When you say unavailability ░░░░░░░░ absence that s no ░░░░░░░░ than a long term ░░░░░░░░ or some kind of ░░░░░░░░ vacation Someone is there ░░░░░░░░ mind the store This ░░░░░░░░ really just the Democrats ░░░░░░░░ Elizabeth Warren trying to ░░░░░░░░ the law circumvent executive ░░░░░░░░ and circumvent an election ░░░░░░░░ aren t there real ░░░░░░░░ questions about whether given ░░░░░░░░ timing of the vacancy ░░░░░░░░ and the timing of ░░░░░░░░ creation this whether the ░░░░░░░░ act would actually cover ░░░░░░░░ in this bureau That ░░░░░░░░ don t believe is ░░░░░░░░ clear at all it ░░░░░░░░ certainly not crystal clear ░░░░░░░░ is part of why ░░░░░░░░ have this confusion right ░░░░░░░░ But Jeff s point ░░░░░░░░ the more important one ░░░░░░░░ is this going And ░░░░░░░░ doesn t the president ░░░░░░░░ the head is want ░░░░░░░░ affirm and sustain an ░░░░░░░░ that brought 12 billion ░░░░░░░░ the But the Republicans ░░░░░░░░ look there are other ░░░░░░░░ the FCC the fdic ░░░░░░░░ pre existed this which ░░░░░░░░ oversight and this is ░░░░░░░░ unnecessary another you know ░░░░░░░░ government But I think ░░░░░░░░ what a wonderful job ░░░░░░░░ other agencies did in ░░░░░░░░ when these financial institutions ░░░░░░░░ not the United States ░░░░░░░░ but the world economy ░░░░░░░░ they were so brilliantly ░░░░░░░░ I mean this exists ░░░░░░░░ that people like the ░░░░░░░░ of Wells Fargo who ░░░░░░░░ ripped off to the ░░░░░░░░ of millions of dollars ░░░░░░░░ of customers no one ░░░░░░░░ anything about it This ░░░░░░░░ did something about it ░░░░░░░░ it s going to ░░░░░░░░ So we re missing ░░░░░░░░ broader political point here ░░░░░░░░ is the fact that ░░░░░░░░ is playing right into ░░░░░░░░ Trump s hands When ░░░░░░░░ talk about draining the ░░░░░░░░ and the deep state ░░░░░░░░ have an unelected bureaucrat ░░░░░░░░ s trying to essentially ░░░░░░░░ this administration hostage and ░░░░░░░░ into this position which ░░░░░░░░ Jeffrey said the president ░░░░░░░░ going to get his ░░░░░░░░ This is going back ░░░░░░░░ trying to throw overthrow ░░░░░░░░ results of the election ░░░░░░░░ I think people are ░░░░░░░░ to see right through ░░░░░░░░ This is just an ░░░░░░░░ to continue usade for ░░░░░░░░ little while longer That ░░░░░░░░ all the Democrats are ░░░░░░░░ to do here hold ░░░░░░░░ for a little while ░░░░░░░░ because they don t ░░░░░░░░ who won the election ░░░░░░░░ actually agree that what ░░░░░░░░ happening is politics here ░░░░░░░░ trump is probably going ░░░░░░░░ get his way with ░░░░░░░░ And I think that ░░░░░░░░ the federal vacancies act ░░░░░░░░ 19 189 will supercreed ░░░░░░░░ frank which is what ░░░░░░░░ this whole agency in ░░░░░░░░ first place The problem ░░░░░░░░ Republicans have with this ░░░░░░░░ I happen to agree ░░░░░░░░ the fact that the ░░░░░░░░ this agency was created ░░░░░░░░ what it does It ░░░░░░░░ t answer to anyone ░░░░░░░░ s outside the normal ░░░░░░░░ of Democrats say it ░░░░░░░░ exactly the whole point ░░░░░░░░ we don t like ░░░░░░░░ okay You don t ░░░░░░░░ unelected bureaucrats making these ░░░░░░░░ of decisions And the ░░░░░░░░ here is that they ░░░░░░░░ t even have an ░░░░░░░░ general There s no ░░░░░░░░ capacity And that is ░░░░░░░░ problem you can laugh ░░░░░░░░ you want Jeffrey but ░░░░░░░░ federal bureaucracy is a ░░░░░░░░ What I want we ░░░░░░░░ t heard from Kerstin ░░░░░░░░ other thing is you ░░░░░░░░ saying this is a ░░░░░░░░ for President Trump but ░░░░░░░░ t one of the ░░░░░░░░ he was running for ░░░░░░░░ sort of protect the ░░░░░░░░ person and the average ░░░░░░░░ And that s what ░░░░░░░░ does And the reason ░░░░░░░░ it s separate and ░░░░░░░░ re calling it unaccountable ░░░░░░░░ because it s intentionally ░░░░░░░░ so that it can ░░░░░░░░ free of any kind ░░░░░░░░ political pressure or influence ░░░░░░░░ hold people accountable in ░░░░░░░░ way they weren t ░░░░░░░░ accountable It s not ░░░░░░░░ accountable Cordray Has said ░░░░░░░░ this is a joke ░░░░░░░░ he wants to destroy ░░░░░░░░ agency He doesn t ░░░░░░░░ that it should even ░░░░░░░░ So why would he ░░░░░░░░ that Freeze to do ░░░░░░░░ review to see what ░░░░░░░░ actually going on there ░░░░░░░░ he s said that ░░░░░░░░ thinks it s a ░░░░░░░░ that the agency is ░░░░░░░░ joke Republicans don t ░░░░░░░░ the agency to exist ░░░░░░░░ s a classic He ░░░░░░░░ that there s way ░░░░░░░░ much overreach with the ░░░░░░░░ previously Jim The only ░░░░░░░░ making that was engaged ░░░░░░░░ by Cordray was to ░░░░░░░░ the trial lawyers more ░░░░░░░░ action opportunities so the ░░░░░░░░ lawyers could line their ░░░░░░░░ That money isn t ░░░░░░░░ back Through class actions ░░░░░░░░ only folks that went ░░░░░░░░ that are the trial ░░░░░░░░ The people don t ░░░░░░░░ He did away with ░░░░░░░░ arbitration provisions for that ░░░░░░░░ He s running for ░░░░░░░░ and wants the support ░░░░░░░░ the trial lawyer Christine ░░░░░░░░ look like you ve ░░░░░░░░ to your special place ░░░░░░░░ we ve forgotten about ░░░░░░░░ American workers and retirees ░░░░░░░░ got completely devastated as ░░░░░░░░ others in others part ░░░░░░░░ the world when what ░░░░░░░░ in 2008 and 2009 ░░░░░░░░ whatever you think about ░░░░░░░░ structure or how it ░░░░░░░░ created there are 12 ░░░░░░░░ Americans who have 29 ░░░░░░░░ more in their pockets ░░░░░░░░ have been protected Retirees ░░░░░░░░ worked their whole life ░░░░░░░░ the American dream of ░░░░░░░░ a little time to ░░░░░░░░ with their family That ░░░░░░░░ what matters here And ░░░░░░░░ is right The president ░░░░░░░░ hellbent to get rid ░░░░░░░░ this entity to get ░░░░░░░░ of the bureau that ░░░░░░░░ protecting and bringing money ░░░░░░░░ those Americans And the ░░░░░░░░ of this the shame ░░░░░░░░ this will be when ░░░░░░░░ happens If that money ░░░░░░░░ really making its way ░░░░░░░░ to those consumers or ░░░░░░░░ back to the agency ░░░░░░░░ It absolutely is going ░░░░░░░░ the pockets of those ░░░░░░░░ and that s the ░░░░░░░░ we should be concerned ░░░░░░░░ What s going to ░░░░░░░░ Who s going to ░░░░░░░░ those Americans Okay I ░░░░░░░░ to thank everybody on ░░░░░░░░ panel The GOP tax ░░░░░░░░ may be in
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