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Obama bucks GOP, OKs consumer watchdog
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01-04-2012, 09:12 AM
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Obama bucks GOP, OKs consumer watchdog
AP sources: Obama bucks GOP, OKs consumer watchdog
Jan 4, 9:56 AM EST By BEN FELLER and JIM KUHNHENN Associated Press WASHINGTON (AP) -- In a defiant display of executive power, President Barack Obama on Wednesday will buck GOP opposition and name Richard Cordray as the nation's chief consumer watchdog even though the Senate contends the move is inappropriate, senior administration officials told The Associated Press With a director in place, the new Consumer Financial Protection Bureau will be able to start overseeing the mortgage companies, payday lenders, debt collectors and other financial companies often blamed for practices that helped tank the economy. Obama's decision to make a recess appointment is certain to cause an uproar from Capitol Hill to Wall Street. He is essentially declaring the Senate's short off-and-on legislative sessions a sham intended to block his appointments. The White House is expecting considerable criticism and perhaps a court challenge, but says Obama was left with little choice to get the consumer agency fully running after months of stalemate. http://hosted.ap.org/dynamic/stories/U/U...TE=DEFAULT Really pissy article, but I'm delighted PBO will put Cordray into the CFPB and get it moving. pfeiffer44 Dan Pfeiffer We Can't Wait: Today in Ohio, President Obama will announce the recess appointment of Consumer Watchdog Richard Cordray apne.ws/8JyTJ 14 minutes ago ![]() The GOP conspiracies |
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