Obama To Name Consumer Protection Head
Richard Cordray will be named by President Obama to head the Consumer Financia Protection Bureau, angering conservatives because it’s a recess appointment.
With a director in place, the new Consumer Financial Protection Bureau can start overseeing the mortgage companies, payday lenders, debt collectors and other financial companies often blamed for practices that helped tank the economy…
In political terms, the recess appointment during the congressional break raised the level of confrontation for a president seeking re-election by championing the middle class and challenging an unpopular Congress. Acting right after Tuesday’s GOP presidential caucuses in Iowa, Obama sought to grab attention and show he would not be slowed, making his most brazen leap-frog over Congress.
Senate Republicans had halted Cordray’s nomination because they think the consumer agency is too powerful and unaccountable.
And it was George W. Bush who made recess appointments into an art form.Click here for reuse options!
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