Obama to Appoint Cordray as Head of Consumer Bureau [View all]

[grantcart]

Many many many critics of the President were saying just the opposite, that he wouldn't make a recess appointment.

Don't expect that this will see much light of day in GD as GD has already opined that such a move would be impossible, but here is what the media is advising;

http://www.nationaljournal.com/obama-to-appoint-cordray-as-head-of-consumer-bureau-20120104

"My hope and expectation is that the Republicans who block this nomination come to their senses," Obama said at the news conference. "And I know that some of them have made an argument, we just want to sort of make modifications in the law. Well, they are free to introduce a bill and get that passed."

But the Senate did not make any amendments to the power Cordray would have as head of the CFPB, focusing instead on year-end deals for the remainder of December. Without a leader, the CFPB has no jurisdiction over banking institutions, which include mortgage lenders.

Obama is scheduled to make his first public appearance of 2012 on Wednesday at 1:15 p.m. in the suburbs of Cleveland -- Cordray's home state.