Pay is flowing so generously at the Consumer Financial Protection Bureau (CFPB) that hundreds of bureaucrats there receive more than most members of Congress.
Speaker of the House Paul Ryan of Wisconsin receives $223,000 per year, but that’s less than what 54 CFPB employees are paid. Another 170 CFPB employees earn more than the secretaries of defense and state, the attorney general and the director of national intelligence.
A total of 198 CFPB employees also earn more than their ultimate boss, Federal Reserve Chairwoman Janet Yellin, who is paid $201,700. Overall, 449 CFPB employees get at least $100,000 per year and 228 CFPB are paid more than $200,000
The agency looking out for the little guy is doing it the way all government agencies ultimately do.
These findings are part of a Daily Caller News Foundation Investigative Group salary analysis for the consumer agency that was founded by Sen. Elizabeth Warren of Massachusetts and then-President Barack Obama in 2011. The agency was created under the Dodd-Frank Act to serve as a consumer agency protecting the poor against financial fraud.
That’s par for the course considering Warren’s own pay structure. $350,000 for teaching a single course. While fighting against the evil rich for middle class people like her.
“Washington works for anyone who can hire an army of lobbyists and lawyers. It just doesn’t work for regular families,” she said. “They’ve got the concentration of money and power that makes sure that every rule works for those who are rich. What we have on the other side, is we’ve only got two things. We’ve got our voices and we’ve got our votes. And we’ve got to make sure we get heard. That’s the only way we ever get a level playing field.”
And what better way to level the playing field than with a government agency of the rich.
Lizzie cares about the “little people” like her who have to make do with a $740,000 condo and her pitiful $15 million net worth. That’s why she created an agency that lets them cash in.