Protection from Whom
12:48 PM, Jul 7, 2014 • By GEOFFREY NORMAN
The Consumer Financial Protection Bureau is the brainchild of senator (and possible candidate for president) Elizabeth Warren. It was, one assumes, designed to do, more or less, what the name implies. It is based in Washington and like any self-respecting government bureaucracy needs to be housed in facilities equal to the majesty of its purpose. So, as Emily Study of Reverse Mortgage Daily reports, we have some serious interior decorating going on as:
The agency has spent more than $215 million on the renovations — $65 million more than the agency’s estimate just six months ago and $120 million more than last year’s estimate, according to a report released by the Office of the Inspector General. This figure amounts to more than $590 per square foot, meaning that the CFPB is spending significantly more per square foot than it cost to build the Trump World Tower ($334 per square foot) and the Bellagio Hotel and Casino ($330 per square foot).
The agents at CFPB will, for sure, know fraud when they see it.
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