which means the Republicans in the Senate can't really do anything to stop it because they have no majority with which to vote to sue or do anything else.
Here's a great article on this:
Does the GOP really want to argue procedure in order to stand up for payday lenders or the people who market rip-off prepaid credit cards? You know, the folks who extract usurious interest rates and hidden fees from working class people? Are these the "job creators" that House Speaker John Boehner loves to protect from excess regulations?
Surely, the White House has to be delighted with this turn of events. It's practically a campaign commercial. Mr. Obama could scarcely have been provided a better example to put to voters in a swing state: "A minority in the Senate puts party ideology ahead of the people we were elected to serve," as Mr. Obama himself observed yesterday in northern Ohio.
. . . .
Admittedly, a recess appointment is hardly the best way to install someone in such an important job. But it's even more unreasonable to abuse the Senate's advise and consent function to shut down an entire agency. Ultimately, the public is not likely to be sympathetic to the GOP's scorched earth strategy to protect 400 percent interest rates.
http://www.baltimoresun.com/news/opinion/editorial/bs-ed-cordray-20120105,0,7762066.story
Obama was right and smart at the same time on this.
I had my doubts about Cordray, but if Elizabeth Warren likes him, I figure he's OK. Apparently he is from Ohio and liked by Ohio voters. That gives Obama something to campaign on in Ohio.
My concern has been that I personally was aware of fraud in mortgage lending and nothing has been done to those who lied and cheated and encouraged borrowers to exaggerate their wealthy.
At least Obama has taken a step in the right direction.
= new reply since forum marked as read