The White House is reportedly considering a plan to replace the current head of the Consumer Financial Protection Bureau with a Fannie Mae executive who once worked with Steven Mnuchin at “foreclosure machine” OneWest in what is clearly a masterwork in trolling designed to obliterate Elizabeth Warren's will to live.
In the event that the Trump administration ditches CFPB Director Richard Cordray, whose position is currently protected by law from presidential interference, they'd like to replace him with someone a bit more bank-friendly. At the top of that list, CNBC reports, is Fannie Mae general counsel Brian Brooks.
Virtually every part of Brooks' résumé seems specially tailored to induce ulcer formation in Warren's digestive tract. A longtime Wall Street defense lawyer with O'Melveny & Myers, Brooks in 2011 became vice president at OneWest, which Warren has called “notorious for its belligerence and for its cruelty.” At OneWest, Brooks oversaw a fair lending unit that has since faced allegations of redlining.
Brooks got the OneWest job after successfully putting the kibosh on a state inquiry into the bank as a lawyer. The incomplete results of that investigation, leaked in January, suggested that OneWest illegally backdated numerous foreclosure documents.
As if that wasn't enough – and for Warren, it certainly is – Brooks moved on to Fannie Mae, the government mortgage financing company that Mnuchin has suggested might be due for privatization (though he has backed off that stance).
It's all the more personal for Warren given that she is, in Jeb Hensarling's words, “the intellectual mother of the CFPB.” Republicans are aiming to change the rules around its leadership, which is currently insulated from the whims of presidential appointment. And who better to replace Cordray, after disemboweling Warren's baby, than a Wall Street lawyer tight with Mnuchin, OneWest and the GSEs?
Whatever dysfunctions the Trump administration currently has, they're still experts in the art of political trolling.