Archive for Richard Cordray

What's that smell? Why, it's the smell of Obama victory: US judge dismisses suit against Dodd-Frank Wall St. reform law

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go away palms hands

Note to Republicans: Cordray was confirmed, so any questions about the legality of his appointment went bye-bye. Time to...

stfu shut your pie hole

To rub salt into that GOP wound, a U.S. district judge has now granted the Obama administration's motion to dismiss a  lawsuit filed by Georgia, Michigan, Ohio, Texas, and others who did not have standing to challenge the Dodd-Frank law.

Judge, short version: No harm, no foul. Now get outta here.

Take that, attorneys general of all eleven states.

Via the L.A. Times:

A federal judge has dismissed a lawsuit by a Texas bank, two free-market advocacy groups and 11 states against the Dodd-Frank Wall Street reform law, saying they did not show the likelihood of financial harm from the new government authority.

The suit specifically targeted the centerpiece of the law, the Consumer Financial Protection Bureau, charging the agency was granted too much power and that its director, Richard Cordray, was installed unconstitutionally with a recess appointment in 2012.

If Republicans would stop wasting everyone's time and money going after Dem-supported laws, maybe we could get a few things done around here.

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Senate Republicans Want to Destroy the Consumer Financial Protection Bureau (CFPB) Elizabeth Warren Created

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blocked i can haz unblock

Your Daily Dose of BuzzFlash at Truthout, via my pal Mark Karlin:

Count the ways that the GOP in Congress is still trying to destroy the Consumer Financial Protection Bureau (CFPB). There are so many that you would need a calculator.

Start with the holding up through a -- you got it – yet another "threatened" filibuster of the appointment of Richard Cordray as official head of the agency.  Currently, he is only in the position as a recess appointment.  This limits his power, term and implementation of the full consumer protection law that was enacted as part of the Dodd-Frank legislation, which the Republicans loathe, as weak as it is. [...]

Reid, in what now is a tired toothless threat, says that he may end the non-filibuster/filibuster by reducing a closure vote to merely needing a majority and not 60 votes. [...]

Meanwhile, the consumers are already benefiting from the CFPB, even if in its weakened stake, and from regulation of financial legislation in the Dodd-Frank law [...]So until Cordray ... is confirmed by the Senate, the right of consumers to be protected from predatory financial institutions and banks hangs by a thread. All because 43 GOP Senators -- who represent roughly only about a third of the US population because they are mostly from states with relatively small numbers of voters -- have signed a letter opposing not just Cordray (remember Obama dumped Elizabeth Warren who designed the agency due to GOP opposition), but any Obama nominee to head the agency [...]

A "take no prisoners" Republican caucus is defying two-thirds of the US population, a majority by anyone's standards, by merely scaring Harry Reid for the umpteenth time with a filibuster that never occurs because Reid won't call their bluff. [...]

Why the Democrats don't take the ball and ram it to the goal post may be more a testament to the power of corporate and financial institutions over Congress than to Reid's craven capitulation.

Please read the entire post here.

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"He will win a second term. The angrier they get, the better this president looks in his defense of the middle class."

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Today's L.A. Times letters to the editor, because our voices matter:

Rattled by recess appointments

Re "With Senate idle, Obama goes to work," Jan. 5

So congressional Republicans are furious at what House Speaker John A. Boehner (R-Ohio) called President Obama's "extraordinary and entirely unprecedented power grab."

Excuse me? George W. Bush made 171 such "unprecedented" recess appointments, including that of John Bolton as ambassador to the U.N.

How long will the GOP get away with such duplicity? It's high time Obama and others in Washington call their bluff.

Liz White
Los Angeles

***

The Republicans' outrage at Obama's appointment of Richard Cordray to head the Consumer Financial Protection Bureau tells me one thing: He will win a second term. The angrier they get, the better this president looks in his defense of the middle class.

Does this mean he finally gets it?

Dennis Grossman
Woodland Hills

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White House leaves door open to more recess appointments

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This also leaves the door open to more good news posts like this one. Via Roll Call:

After showing last week that President Barack Obama is not afraid to defy GOP filibusters of his nominees, the White House is leaving the door open to more recess appointments — some of which could continue to help him showcase his campaign theme that he is the remedy to Capitol Hill's gridlock.

When President Obama used his presidential powers to finally make Richard Cordray the official head the Consumer Financial Protection Bureau, and then to appoint three National Labor Relations Board members, many of us stood up and cheered. All that GOP obstruction, all the blocks, all the filibusters finally drove him to act on his own, which was exactly what was necessary in order to overcome the spiteful, destructive Republican brick walls.

Obama could still choose to tap a number of stalled nominees in his effort to position himself as the champion of the middle class and consumers — the same theme struck in last week's appointments.

As Roll Call reports, there are still-- count 'em-- 181 nominations pending in the Senate, and many of those have been for at least six months.

Other recess appointment possibilities could help win favor with another important constituency — Hispanic voters. Those include Adam Namm to be ambassador to Ecuador and Roberta Jacobson to be assistant secretary of state for the Western Hemisphere. Senate Republicans filibustered the nomination of Mari Carmen Aponte to be ambassador to El Salvador last month. Sen. Marco Rubio (R-Fla.) is holding up Namm's and Jacobson's appointments.

And don't get me started on judicial nominees.

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VIDEO: President Obama Speaks at the Consumer Financial Protection Bureau

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This never aired yesterday... apparently the pool feed failed, so here you go:

President Obama discusses the importance of protecting American consumers by making sure that banks, mortgage companies, loan providers, and other financial services providers play by the rules.

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Video- The Daily Show: Commission- Impossible

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VIDEO: Pres. Obama in Cleveland, Ohio on Richard Cordray, GOP obstruction

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President Obama on his appointment Of Richard Cordray to the Consumer Financial Protection Bureau, on the usual GOP obstruction of anything he supports, and more.

Via the wonderful @ReasonVsFear.

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