Tuesday’s hearing of the House Oversight Committee gave Chairman Patrick McHenry (R-N.C.) a chance to vent, and witness Elizabeth Warren, President Obama’s Special Advisor for the Bureau of Consumer Financial Protection (BCFP), a chance to defend, and for the entire hearing to accomplish nothing. The BCFP was the brainchild of Warren, and the centerpiece of the Dodd-Frank Wall Street Reform and Consumer Protection Act which was signed into law last July. Its Orwellian title hides the fact that the new agency will do little to reform Wall Street and nothing at all to protect the consumer.
As a congressional investigation of the Obama administration’s “Project Gunrunner” scandal proceeds, Rep. Darrell Issa (R-Calif., picture, left) is threatening ATF Acting Director Kenneth Melson with contempt of Congress charges if he continues to defy a subpoena demanding documents. The controversial government operation being probed, known as “Fast and Furious,” deliberately put high-powered weapons into the hands of known criminals — with tragic results.
The Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) and the Department of Justice are under increasing pressure after getting caught providing misleading responses to Sen. Charles Grassley (R-Iowa, left), who is continuing to investigate a U.S. government operation that deliberately put high-powered weapons in the hands of Mexican cartels.