IG: Docs disappeared for pimp-out remodel of Elizabeth Warren’s pet consumer finance agency

IG: Docs disappeared for pimp-out remodel of Elizabeth Warren’s pet consumer finance agency

[Ed. – What the heck do you know.  Emphasis added.]

Possible presidential candidate Sen. Elizabeth Warren (D-MA), who came up with the idea and led the start-up of the “Consumer Financial Protection Bureau” as a federal watchdog to prevent financial institutions from abusing U.S. consumers, is now at the center of the a scandal regarding the vanished authorization to spend $215.8 million on a luxurious remodel that included a new penthouse floor and indoor waterfall for the bureau’s rented Washington, D.C. office space. …

Warren advised Barack Obama during his 2008 presidential campaign on the creation of the CFPB. After Obama’s victory, Warren was appointed by Senate Majority Leader Harry Reid (D-NV) to chair the Congressional Oversight Panel that reviewed $700 billion in spending by the Troubled Asset Relief Program on November 25, 2008. ..

The OIG found that the “Scope and Justification for Estimates” for the “$55 million and $95 million budget amounts for the renovation for fiscal year FY 2012 [beginning October 1, 20011] and FY 2013 [beginning October 1, 2012], respectively, were published in the CFPB’s public budget documents.” The OIG also found that “Approvals through decision memorandums were obtained for these amounts.” But the OIG reported that “CFPB was unable to locate any documentation of the decision to fully renovate the building.”

It therefore appears that although Sen. Elizabeth Warren was the responsible party at the CFPB who approved the “decision to renovate,” the design, and the cost “Scope and Justification for Estimates,” all documents regarding her decisions have vanished.

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