The pixels weren't even dry on the page before the U.S. Senate did exactly the opposite of what we urged them to do.
We're used to it.
- Confirm Cordray: Let bureau protect consumers - Salt Lake Tribune Editorial
President Barack Obama knew that the recalcitrant Republicans in Congress would never affirm Elizabeth Warren as head of the new Consumer Financial Protection Bureau, even though the bureau was the result of Warren’s efforts. Warren is a fierce consumer advocate, Harvard professor and the logical person to run a board whose mission is to protect the interests of consumers.
Republicans, however, believe she would have fought too hard for ordinary Americans at the expense of huge financial corporations.
So the president nominated former Ohio Attorney General Richard Cordray to lead the agency created by the Dodd-Frank Wall Street reform law. Cordray is more acceptable to Republicans. More than half the state attorneys general support his appointment, including Utah’s Mark Shurtleff, a Republican.
But Cordray’s nomination is being blocked anyway, by Republicans, including Utah Sens. Mike Lee and Orrin Hatch, who simply don’t like the concept of a bureau with authority to oversee practices of mortgage and payday lenders, credit-reporting agencies and big banks that handle student loans. ...
- GOP blocks Obama nominee to head financial agency - AP/Salt Lake Tribune
Senate Republicans on Thursday blocked President Barack Obama's choice to head the new consumer protection agency that was designed to help curtail the excesses and abuses that led to the financial meltdown. ...
... Only one Republican voted to advance the nomination. The 53-45 vote was short of the 60 needed to overcome GOP opposition. ...
... Warren, who drew sharp opposition from Republicans who considered her too much of an activist, is running for a Senate seat against Massachusetts incumbent Scott Brown, the only Republican to support Cordray.
Others who were ignored:
- Confirm consumer protection bureau director - USA Today Editorial
- Give Richard Cordray a Senate vote on Consumer Financial Protection Bureau nomination - Cleveland Plain Dealer Editorial
- Will Senator Chuck Grassley Stand Up to Big Banks and Stand With Consumers? - Oskaloosa (Iowa) News
- Poll: Elizabeth Warren soars 7 up over Scott Brown - Boston Herald
- The CFBP's New Credit Card Agreement - Matthew Yglesias, Slate
The Consumer Financial Protection Bureau doesn't have a confirmed head and thus lacks most regulatory authority, but it's still doing stuff. ...