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Wednesday, January 4, 2012

Obama to Name Consumer Protection Chief While Congress Is Out of Town

Posted by on Wed, Jan 4, 2012 at 8:29 AM

About time:

President Obama will challenge Senate Republican foes of the newly created Consumer Financial Protection Bureau by naming Richard Cordray as its director while Congress is out of town, according to a senior administration official.

That would allow the agency to establish new regulations over financial institutions, putting into effect elements of the financial regulatory overhaul that was one of the administration’s main achievements in Congress.


Comments (9) RSS

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On the super bright side, his inability to sack up on this any earlier means the first woman President of the United States may be Elizabeth Warren.
Posted by gloomy gus on January 4, 2012 at 8:40 AM · Report this
Max Solomon 2
@1: did he have an earlier micro-recess in which to act? i missed it if he did.

but yes, Warren 2016.
Posted by Max Solomon on January 4, 2012 at 9:17 AM · Report this
Banna 3
If you're going to go around the Republicans' back, might as well stick the knife in while you're back there. Just appoint Elizabeth Warren, the person you (and everyone else who cared about regulation) wanted in the first place.

Posted by Banna on January 4, 2012 at 9:27 AM · Report this
Max @2, as I understand it Warren was instrumental in advocating to create the department, and was its logical chief but Obama dared not float her before Congress for approval. That gave Warren the time to realize the Senate run would be a great option. Soon enough she will be in the White House, whereas if Obama had gone ahead and done whatever it took to install her at CFPB it might've taken longer, given prospective opponents more ammo to run against her with. It would have been glorious to see what she could have done at CFPB, but that's water under the brtidge now. She's asking her supporters to sign her online card encouraging the guy finally appointed, using the link here (note: you'll need to give your email):…
Posted by gloomy gus on January 4, 2012 at 10:00 AM · Report this
Vince 5
@4 And an added bonus if she beat Scott Brown. When you Google Brown, Warren pops up, too. She is one tough woman. And smarter than any Republican alive or dead.
Posted by Vince on January 4, 2012 at 10:33 AM · Report this
Supreme Ruler Of The Universe 6
Are you saying Obama may choose not to run?
Posted by Supreme Ruler Of The Universe on January 4, 2012 at 10:47 AM · Report this
Nathaniel Irons 7
So not only is it a shorter-than-ten-day recess, it was one in which the senate was holding pro forma sessions, of the style that Harry Reid innovated to avoid recess appointments under Bush. I'm no fan of the modern Senate's unwillingness to approve presidential appointments, but the long-term unintended consequences from this are going to be large.
Posted by Nathaniel Irons on January 4, 2012 at 11:48 AM · Report this
Oh thank you, Eli, now we'll all be saved, so instead of Romney of Wall Street, or Obama of Wall Street, some unknown outfit, headed by a rather tenuous individual, hidden away in one outfit which railed against any upholding of laws against all the banksters' crimes, the Federal Reserve, will somehow or other save the f**king day?

Exactly what is the sum total of your neurons, dood????
Posted by sgt_doom on January 4, 2012 at 1:44 PM · Report this
@1, that idiot troll again,

Right, if the faux crats of the Bankster Party can't even get her appointed to a nebulous mirage within the Fed, which will be rendered completely impotent, surely they'll be able to elect her to the presidency?

Exactly how badly did you do in arithmetic last year, dood???
Posted by sgt_doom on January 4, 2012 at 2:16 PM · Report this

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