McHenry’s role in attempt to smear consumer watchdog

North Carolina congressman Patrick McHenry has always been a loyal lackey to the various branches of the bottom feeding sharks of the consumer lending industry. From his time in the General Assembly where he was an outspoken defender of the now illegal practice (in North Carolina) of “payday lending” right up through his tenure in congress — a period during which he has frequented small loan industry shindigs as a guest of honor and carried the industry’s water in numerous debates — McHenry does whatever he can to oppose consumer protection laws and smear consumer advocates.

Thus, it was no surprise at all to see one of North Carolina’s most embarrassing members of congress highlighted again this morning in a story by the good folks at Think Progress. It’s a bit complex, but it’s pretty clear from the story that McHenry was working hand in glove this past May with a former Goldman Sachs employee (a guy who changed his name after leaving the company and who now works as a congressional staffer — that’s him in the picture sitting behind McHenry) to smear the lending industry’s Public Enemy Number One, consumer advocate Elizabeth Warren. 

The bottom line: As with his time in Raleigh, McHenry is a predatory corporation’s  dream legislator: a relatively young, ambitious, arch-conservative from a safe district who’ll pretty much do and say anything he’s told in order to get “ahead.”




  1. david esmay

    August 24, 2011 at 9:32 am

    I watched him debate Elizabeth Warren during the senate hearing, he was so over matched intellectually it was pathetic. He will stop a nothing in order to prevent any form of accountability within the finance industry, and in no way, shape, or form represents the best interests of the people of NC. I would never call him inconsistent, unprincipled, yes, and a good judge of where the money is, like a bank robber or a prostitute. The latter being the more apt decription.

  2. Alex

    August 24, 2011 at 1:36 pm

    I guess Obama canned Elizabeth Warren because she stood out among the rest of his dummies in the administration. Talking about a worthless agency and a complete waste of taxpayer money. If folks are too dumb to read a contract or a mortgage , they don’t need to be buying anything.

  3. david esmay

    August 24, 2011 at 3:04 pm

    Once again Alex, you don’t have a clue. She’s going to run against Scott Brown. Warren didn’t get the appointment because the teabaggers would have opposed it. The main reason being, she’s smarter than anyone in congress, the other reason is she scares the hell out of them. They oppose anyone with the backbone to hold them and the financial industry accountable. For McHenry to align himself the likes of Issa and Haller shows what a scumbag he is. Issa has a long history involving auto theft,possesion of a concealed weapon, arson, larceny, etc. The only reason he hasn’t done time is his brother took the fall. McHenry is just another morally and ethically bankrupt bottom feeder put forth by the Grand Ol’ Pillagers to do their bidding, it’s shameful that he represents this state, he’s certainly not the best we have to offer.

  4. Alex

    August 24, 2011 at 8:15 pm

    Once again you have it wrong David, or is it Dave since you sign in differently. She only decided to run against Scott Brown after she got canned, and was no longer on the government dole. No one in the Congress liked her so I doubt the Tea Party was to blame. The truth of the matter is that it is a worthless agency, and needs to be eliminated.

  5. Rob Schofield

    August 24, 2011 at 9:55 pm

    Alex – you’re way in over your head. As an attorney who worked in consumer law for many years and had multiple debates with McHenry during which it was evident even to his fellow Repubs that the guy had no idea what he was talking about, I can assure you that you err in attempting to take his side in a conflict with a remarkable and thoughtful expert like Prof. Warren.

  6. Alex

    August 25, 2011 at 6:50 am

    My comments are not directed at the McHenry debate, but the agency that Elizabeth Warren created which is much more important than the banter between these two bureaucrats. Although I understand your motivation, the larger picture is the myriad of regulations created by the Dodd-Frank bill which is so stifling to the financial industry that companies are cutting huge numbers of jobs when we need them the most.

  7. Rob Schofield

    August 25, 2011 at 7:28 am

    Anyone with even passing familiarity with the kind of predatory practices in which the American lending industry has engaged during the last couple of decades could not make such a statement. As is evidenced by your patently inane comment about people “too dumb to read a contract” (FYI- most of these contracts are beyond even an experienced attorney if he or she doesn’t practice in this field) you are clearly uninformed on this topic.

  8. Alex

    August 25, 2011 at 12:15 pm

    Your basic premise that everyone is inherently dumb and the government must guide them in every facet of their life says very little for our educational system and our citizens. Shame on you Rob !

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