Mick Mulvaney torched Rep. Maxine Waters with a solid civics lesson during testimony before the House Committee on Financial Services.
Waters claimed that she and her fellow lawmakers were responsible for implementing the Dodd-Frank financial regulations and asked why the Consumer Financial Protection Bureau director should be trusted to lead the bureau after sponsoring a bill to eliminate it.
“Why should we think that you’re not there to destroy the Consumer Financial Protection Bureau?” the California Democrat asked Wednesday after saying that Mulvaney is in his position illegally.
“With respect, Congresswoman, I would say that I am the one responsible for implementing Dodd-Frank, not you,” Mulvaney fired back with a succinct lesson in the separation of powers. “You were responsible for passing legislation and then the executive branch implements it.”
Waters would not let him get too far, apparently feeling the heat of being embarrassed by Mulvaney’s retort.
“I have not burnt the place down,” he told her. “Despite what you may have heard about what I was going to do when I got in there. I think that we have ten fewer people working there now than the day I took over, and that’s out of 1627 people.”
“We continue—” he said as Waters cut him off.
“I’m reclaiming my time,” she declared, attempting to get in the last word.
“Let me just say to you that you couldn’t implement a thing unless, first of all, there was legislation that was passed to deal with what you’re doing, and second, we have responsibility for the oversight of your implementation,” she said, clearly rattled by Mulvaney.