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Consumer Protection Bureau’s Hiring Spree

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  • Description

    FBN’s Charlie Gasparino on the plentiful job openings at the Consumer Protection Bureau.

  • Duration 3:08
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-- many Wall Street firms are laying people off and cutting costs you know that story but one big regulator of Wall Street will be testifying before congress later this week.

Is actually hiring.

A lot Charlie Gasparino flight away.

I mean these records as a buffer.

-- always -- -- -- no I mean listen I have no great affinity for either room -- I think Warren Buffett's OK guy.

I'm -- appreciate and his -- I he has been wrong a lot he made one call.

The the the sub prime crisis any kind of -- -- in in a weird way that it wasn't he was in the corner of subprime crisis call for collapse of the economy.

Recent run on the dollar I put buffet up there any day of the -- now that -- -- that -- -- -- Elizabeth -- who's hiring in this new consumer bureau.

You know.

I would say dozens of jobs more than forty jobs came between sixty and 260000.

Dollars a year.

Are right now open at the consumer protection finance bureau or -- that monstrosity is called.

And it's pretty interest seen as everybody else on Wall Street the firm she's -- to regulate.

Are contracting.

She's actually expanding and this is going to be a pretty big issue I think you're gonna see -- acting hearing this week I think it's Thursday.

-- is his committee is group putting up before the committee they're gonna ask her about this and it's going to be -- to say.

How come you have such a huge budget it's an unlimited budget almost from the Fed.

In -- void exists the sort of congressional appropriation we have to get -- -- before congress and say okay how much you want this year and have to testify avoid that.

They just keeps funding that.

They're gonna ask her why -- we be sending that much money to this bureau.

-- where it's expanding greatly from where the entire industry that -- regulating and it's usually -- -- part of it.

Is contracting so that's what I think's gonna come this week and I will say this though.

If you're out of work on Wall Street you can go to Washington and make 260000.

Dollars a year as a banker as an examiner from the -- You know we just.

-- the head of Tibco Software on net.

At the -- -- evening and and he was saying look the best thing to do to inspire jobs is less of everything he meant of course less government fewer taxes less regulation.

But.

He also said that we should have the start of these acts which is something Senator Kerry and senator Lugar -- all -- been pushing forward.

Picture education here give these people Green card stapled to it practically they'll start businesses.

And run with the money and run with the hiring.

Yeah I mean I see merit in that you know I think that's a little besides the point right now I mean listen you want you want to create jobs mass jobs yes I you don't do -- -- -- -- regulation like this consumer protection bureau that Jamie Dimon has said it.

That the regulations that are coming out of Dodd-Frank is strangling the -- don't tell me but but could could you argue that all of this these millions of people out of work with because.

There was too much lending there was there is Christmas or if you if you wanna that they did you notice that we avoided if you want if you wanna Trace the beginning of the housing crisis in the bubble that occurred.

Does -- you can't leave out Fannie and Freddie two government would be had yet to government.

Programs designed to sperling to give loans to people that otherwise could afford it if that's not the recipe for a bubble I don't know what is -- Charlie Gasparino thank.

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