Obama Defies Republicans, Plans to Bypass Congress and Install Richard Cordray as Head of the Consumer Financial Protection Bureau (CFPB)

Obama defies Republicans with consumer agency pick

(Reuters) – President Barack Obama plans to bypass Congress and install Richard Cordray as head of the country’s new consumer financial watchdog, picking an election-year fight with Republicans who have blocked the nominee.

The move to use a recess appointment, announced by the White House on Wednesday, is being cheered by Democrats and liberal advocacy groups, but it will inflame already bad relations between the White House and Republicans in Congress.

“President Obama, in an unprecedented move, has arrogantly circumvented the American people,” Senate Republican Leader Mitch McConnell said in a statement.

Republicans, who say the agency itself is a bureaucratic overreach that will hurt the economy, last month blocked a Senate vote on whether to confirm Cordray.

In advance of the 2012 election, the White House has been seeking ways to portray Republicans as obstructionists, and this marks another step Obama is taking to confront objections to his agenda.

The move will likely come with a price, however, as Republicans may now block Obama’s picks for other high-profile financial regulators, with vacancies at the Federal Reserve and Office of the Comptroller of the Currency.

Rest here…

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4closureFraud.org

Comments
25 Responses to “Obama Defies Republicans, Plans to Bypass Congress and Install Richard Cordray as Head of the Consumer Financial Protection Bureau (CFPB)”
  1. lvent says:

    BLOOMBERG NEWS REPORTING…Santorum saying the Senate should not go to work until CORDRAY RESIGNS…WE SHOULD NOT GO TO WORK UNTIL THEY ALL RESIGN…AND OUR U.S. CONSTITUTION IS RESTORED TO ITS ORIGINAL FORM!!!!!

    • lvent says:

      It is WE THE PEOPLE who need to get a spine and stand up to this illegal and unconstitutional tyranny. OUR KIDS FIGHT THEIR WARS AND GET SPAT ON…YET, WE THE PEOPLE WON’T FIGHT FOR OUR CONSTITUTION ON OUR OWN SOIL ????..The politicians are never going to fix this….that is apparent…there will be NO HOPE AND CHANGE UNTIL WE THE PEOPLE MAKE A STAND…AND STOP GOING ALONG WITH ALL OF THE B.S. THEY THROW AT US EVERY DAY!!! THEY ARE ALLOWING THE NWO TO STEAL OUR COUNTRY TO PAY FOR THE $750 TRILLION IN MORTGAGE FRAUD DEBTS OF THEIR PERPS ON WALL STREET!!!!

      • lvent says:

        The politicians and the media call us lazy slobs…… Eric Holder called us a nation of cowards…Obama said Wall Street did not break the law…they were just reckless…. And yet Mitt Romney won the Iowa poll? Someone said we get the Government we deserve…come on people..We are better than this!!!

  2. Zee says:

    Our dear leader is our dictator – unchallenged and free to do as he wants without any consequence.

  3. jaclyn says:

    “Trust but verify.” Ronald Reagan. Cordray is getting mixed reviews, just when I thought this was a great win for consumers. I’ll be watching this one…Thanks Nye as usual. Your input is invaluable, keep it coming.

  4. Well one for the people, compare to million for the banksters but at least is something to protect consumer against the Banksters buses !

  5. William says:

    It appears, we must work viganlently to have the DOJ criminally prosecute the Atlanta VA loan guarantee officer. He is a government employee to swore an oath of office to the United States of America not to the Bank of America.
    This case is at the core of the every issue we address. At every level. There can be no true sense of progress unless and until this reprobate is prosecuted.It would seem that the DOJ is mandated by law to prosecute him. Please review the following links and post your views. IMHO
    Where’s ‘Waldo’?
    http://www.mbac.org/cms_bwm/uploads/78.pdf

    CHAPTER I: DEPARTMENT OF VETERANS AFFAIRS Standards of ethical conduct and related responsibilities http://cfr.vlex.com/source/code-federal-regulations-pensions-bonuses-veterans-relief-1087

  6. lvent says:

    After the passage of the NDAA…it is apparent that neither Obama or Congress give a damn about the U.S. CONSTITUION OR THE BILL OF RIGHTS….They are operating a rogue regime in D.C…..

  7. lvent says:

    Bloomberg news reporting Bernanke calling on Congressional lawmakers to ‘FIX’ the foreclosure problem…! Sorry Bernanke…… There is no “FIX’ FOR FRAUD!!!!

    • lvent says:

      The fraud is rampant and can’t be fixed so looks like it is time for a NATIONWIDE LOAN RECISSION…!! The property taxes, utitlilty bills and maintenance are too much to pay in this screwed up economy all caused by the banks and Wall Street fraud…The people are sick and tired of paying for all of their fraud…!!!

  8. readdocs says:

    http://market-ticker.org/akcs-www?post=200063

    .The problem is that The Senate is not in recess. It is being held open with pro-forma sessions and not gaveled “sin die” for the specific purpose of preventing recess appointments.

    Obama has no authority, Congress is NOT in recess.

    • lvent says:

      readdocs..Obama is acting like a dictator for sure and CONgress is no better with the National Defense Authorization Act they drafted and passed! They all need to be imprisoned for treason!

      • readdocs says:

        Ivent,
        It was disclosed today there was a little something else slipped into that bill. The states
        National guards have been federalized, and are now under the pentagon instead of each
        states’ governor.

      • lvent says:

        readdocs..too many do not realize, they declared war on all of us on 9/11…

    • rictic says:

      Then it is time for CONgress to grow a pair of gonads and Impeach this community organizer before he does to the US what Castro did to Cuba…

      • lvent says:

        rictic, I think that many members of CONgress are working for the NWO.. Lots of commies in Congress.If this is not true, they would have impeached Obama by now..They tried to impeach Clinton for a lot less….The reason they tried to impeach Clinton was because he was not going along with the establishment in the begining……they only try to impeach when they are not following orders..The NWO finds the weaknesses of these people to use against them..Elliot Spitzer is the perfect example…I don’t trust any of these politicians…The traitors are from within…!

      • lvent says:

        CONgress and the Senate have no gonads…they are for the most part bought traitors who don’t give a shit about any of us…..They want more for themselves and their criminal friends on Wall Street and less for everyone else…My God, Barney Frank is the antithesis of why we are all here…The NWO robbed this country blind and they could have never pulled off the biggest robbery of our wealth in history without many traitors from within..!. Just like 9/11 this was an inside job for the ruling elite…They banks have been the robber barons for the ruling elite throughout history but they need cooperation from within…They did the same thing during the last manufactured Great Depression except this manufactured economic crisis is much larger because there are more of us…Use and abuse so they can steal, that is all they do….The FED needs to be abolished! We need to remove ourselves from the U.N. and NATO….There has not been a U.S. President to date that stood up the NWO and lived to talk about it…It is up to all of us to demand the change…no President can go it alone…We have to stop complying and conforming for one thing…CONgress and Obama passed NDAA…WHERE IS THE OUTRAGE? They can only get away with what we allow…and what they make us believe….They have tried and succeeded to instill fear in alot of people…They blew J.F.K ‘s head off in front of the entire country…to instill fear…same with 9/11….same with the stock market crash in 08…..remember when they told us if the U.S. taxpayer did not bail out the TBTF..the consequences would be catostrophic? Many experts say that was a BIG LIE….I remember when the media said Obama and Geithner saved the country when all they really did was let the financial sector get away with fraud…and they still are and that includes the FEDERAL RESERVE with their money printing, deflation, inflation….this is all being done intentionally to bankrupt all of us…The crooks owe $700 trillion in collateral mortgage fraud debt…their debt can never be repaid yet they continue to make all of us pay for it in everything that we do….! They all need to go to prison for treason…and their needs to be legal contracts that all politicians must sign and promise to uphold their promises and the U.S. Constituition or they must resign….I am from Chicago so I know that you can never really take the money out of politics…they always find a way to take the payola….but if there is a legal contract then we own them…all of this crazy commie legislating by CONgress and the Senate has to be stopped….The President is abusing his power every chance he gets…they are all out control and are in need of restraint by WE THE PEOPLE……the “I will do whatever I want and I don’t care who likes it.” mentality of all of these politicians has to stop…these are not the principles this country was founded on…What is going on in America today is the reason the forefathers left Europe and gave us a Constitution to protect us from a Government that was completely corrupt and acting like a tyranny…We need to restore our Constitution back to its original form…The insanity has to stop…There are over a thousand new laws that were passed last year that went into effect Jan 1st that we did not know about and that is unacceptable in a free and open society!

      • lvent says:

        All of the Politicians sneak around and do whatever the hell they want…and we continue to let them get away with it….! What is wrong with all of us? Why do we keep allowing it? People are scaaaared! Live free or die should be our motto!…not o.k. master whatever you say! It is all bullshit!

      • lvent says:

        Or how about this one, We have owners who own us….! SAY WHAT? Says who…? When did WE THE PEOPLE agree to that?…we did not…the politicians did that…when they snuck in the UNCONSTITUTIONAL FEDERAL RESERVE…and the IMF stole our gold and birth certificates….I say, make them give it all back…the dirty crooks! They Roman Empire used their financial perps to rob us all blind and corrupt our politicians…in order to steal our National Sovereignty! A country in debt is not free.! A country at war is not free! Wake Up America!!!! Time to end the tyranny…ABOLISH THE FED…RESTORE THE U.S. CONSTITUTION…ISSUE OUR OWN CURRENCY…END THE WARS……REMOVE AMERICA FROM THE U.N. AND NATO…KICK THE NEW WORLD ORDER AND ALL OF THEIR MINIONS AND COHORTS OUT OF AMERICA!!

  9. jaclyn says:

    WOW ! Talk about throwing us a curve….Thanks to all the knowledgeable folks and their comments. I almost did a happy dance but instead I sat back down to my computer. I have much to learn re: believing any statements as truth ……Let’s see if this Cordray is real. God knows they played him up to be a godsend saying that until he is voted in as Director of CFPB, no consumer rights law could be enforced. Made it out to sound as though he would pick up the baton from Elizabeth Warren. Keep the pressure on !!!!

  10. lvent says:

    I have lost all hope in Obama after he signed the NDAA…All of the politicians need to be thrown out ..they are completely corrupt and useless..they are all traitors to America who work for the NEW WORLD ORDER…NOT THE AMERICAN PEOPLE!!!

    • lvent says:

      FOX Business reporting Obama under fire for this appointment…Obama critics are saying this appointment by Obama is unconstitutional..The Obama administration responding saying that Obama can fill vacancies under Dodd-Frank…

  11. burton dorion says:

    Cordray as a comsumer watchdog seems unappropriate in light of last weeks PD article about how last year, Cordroy’s office was in charge of making sure that companies that recieved ODOD (Ohio Department of Development) grants fullfilled the job creation part of their agreement and they failed miserably. His lack of watchdog skills cost Ohio Taxpayers tens of millions of dollars. See the article
    http://www.cleveland.com/open/index.ssf/2011/12/nearly_half_of_companies_that.html#comments

    It didn’t get much press so I imagine Obama’s staff didn’t see this or I can’t imagine they would have gone forward with Cordray. If you are not familiar with the article, here is how it related to Cordory and his watchdog ability.

    Last year, Cordory’s office was in charge of making sure companies who recieved ODOD rewards fulfilled the job creation requirements or else the state could clawback the money (taxpayer dollars) they received. Cordroy reported that 90% of companies fulfilled their end of the agreement. This year is came out that the number is only 52% and the reason it was so high in the previous year was that “Cordray’s analysis, however, was based on voluntary surveys that companies submitted to the attorney general’s office, according to a Lisa Hackley, a spokeswoman for DeWine. Only about 25 percent of the companies responded to the survey, Hackley said.”

    Was it that hard to slip one by our new watchdog and take tens of millions of taxpayer dollars they didn’t deserve? How does Mr. Cordray find out if the companies lived up to their end of the bargain…he sent them a voluntary survey and politely asked them if they created the jobs they promised they would and he didn’t audit the few responses he got. THIS IS A PERSON IN A WATCHDOG POSITION!!!

    My question is why he would even have to ask the company anything? To see if companies created the jobs they promised, he could simply look at the tax rolls to see the number of OHIO employees and total ohio payroll each company had.

    Do you think this is relavent to the conversation?

  12. Samuel Whitehead says:

    Obama is really showing those GOPers, by golly! Give me a break, Cordray is no consumer activist.

    Consider the following:
    Which party will get the most funding from Banksters during this election cycle? [Both] parties will!
    Will we have a foreclosure moratouritum? Nope
    Will any attorneys be reprimanded for helping Banksters f$%k people? Nope
    Will we work out deals for homeowners facing foreclosure who want to stay in their homes? Nope
    Will we help homeowners who have been destroyed financially and have had their houses stolen? Nope
    Will we prosecute any Banksters? Nope
    Will we prosecute anyone from the financial sector responsible for driving the economy over a clifff? Nope
    Will we prosecute any former “regulator”, who aided and abetted the housing swindle? Never

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