(OUT OF TOUCH) CFPB head, charged with protecting consumers, says people need 'to help themselves'

[CousinIT]

The absolute IGNORANCE of this brain-dead wombat is stunning. She thinks people use credit for $400 emergencies because they're just dumb.

W R O N G!

They do that because they HAVE. NO. OTHER. OPTIONS. They're dirt poor. And usually, working FULL TIME JOBS. That might give someone the idea that wages are too low for them to save. And if they wanted to "pull themselves up by their bootstraps" and get further education, they'd have to miss time from work, and it would COST. MONEY. THEY. DON'T. HAVE. (derp - if they can't afford a $400 emergency they can't afford trade school or college either duh).

I mean this dingbat is vacuum-packed. There's not even any AIR in that tin can atop her mouth that for NORMALLY INTELLIGENT people, holds a human brain.

CONSUMERS are not DUMB.

SHE is.

https://www.latimes.com/business/lazarus/la-fi-lazarus-cfpb-kraninger-takes-consumers-to-school-20190419-story.html

After becoming head of the Consumer Financial Protection Bureau — a job for which she had little if any relevant experience — Kathleen Kraninger went on what she called a three-month “listening tour” to learn how best to safeguard the public from greedy banks, credit-card companies and lenders.

This week she revealed what she’d learned.

Consumers don’t need much protection from banks, credit-card companies and lenders, it turns out.

They just need a little schooling.

“Empowering consumers to help themselves, protect their own interests, and choose the financial products and services that best fit their needs is vital to preventing consumer harm and building financial well-being,” Kraninger said in a speech to the Bipartisan Policy Center, a Washington think tank.

“Today’s consumers need these skills more than ever,” she said. “For example, fewer than half of Americans set aside money for their children’s college education. More and more people reach retirement with incomes and savings that simply won’t meet their needs.

“Perhaps most distressing to me was the Federal Reserve report that found 40% of Americans would turn to credit to cover a $400 emergency.”

[Hugin]

1. Everyone needs to read your comments.

Righteous rant, CousinIT.

Speak it!

[theaocp]

2. I disagree.

She's hardly dumb. Her intelligence is isolated, perhaps on purpose, but she knows EXACTLY what she is doing. She is working to cut funding for real people. That leaves money for a more "deserving" focus. She's just another face of evil.

[Sherman A1]

3. Precisely

This person is not at all dumb. This is an orchestrated attack on the working and poor classes of our society.