Spokane7
59°
January 4, 2012 in Business, Nation/World
Obama bucks GOP, OKs consumer watchdog
WASHINGTON — In a defiant display of executive power, President Barack Obama today will buck GOP opposition and name Richard Cordray as the nation’s chief consumer watchdog even though the Senate contends the move is inappropriate, senior administration officials told The Associated Press.
With a director in place, the new Consumer Financial Protection Bureau will be able to start overseeing the mortgage companies, payday lenders, debt collectors and other financial companies often blamed for practices that helped tank the economy.
Obama’s decision to make a recess appointment is certain to cause an uproar from Capitol Hill to Wall Street. He is essentially declaring the Senate’s short off-and-on legislative sessions a sham intended to block his appointments.
The White House is expecting considerable criticism and perhaps a court challenge, but says Obama was left with little choice to get the consumer agency fully running after months of stalemate.
Acting right after Tuesday’s GOP presidential caucuses in Iowa, Obama is seeking to grab attention and show voters that he will advocate for the middle class no matter what the opposition. It is his most bare-knuckle initiative so far in his campaign of taking action without waiting for Congress.
Obama planned to announce his decision later Wednesday during an economic event in Cordray’s home state of Ohio, with Cordray along with him.
Cordray would take over the job later in the week and stand to serve for at least the next two years, covering the length of the Senate’s session.
Administration officials spoke to the AP about the news on condition of anonymity because Obama had not announced the appointment.
Republicans in the Senate have blocked Cordray. Obama planned to say that every day Cordray waited for confirmation, millions of Americans remained unprotected from dishonest financial practices, according to prepared remarks obtained by the AP.
“That’s inexcusable,” Obama says in the remarks. “And I refuse to take ‘No’ for an answer. I’ve said before that I will continue to look for every opportunity to work with Congress to move this country forward. But when Congress refuses to act in a way that hurts our economy and puts people at risk, I have an obligation as president to do what I can without them.”
More than a standoff over one significant appointment, the fight speaks to the heart of presidential campaign under way. Presiding over a troubled but improving economy, Obama’s must persuade a weary middle class that he is their champion, all while fending off fire from Republicans challengers and lawmakers.
To get Cordray into the job, Obama is essentially dictating to Senate what constitutes a legitimate legislative session.
Obama has constitutional power to make appointments during a congressional recess.
Expressly to keep that from happening, Republicans in the Senate have had the Senate running in “pro forma” sessions, meaning open for business in name with no actual business planned. Democrats started the practice when George W. Bush was president to halt him from making recess appointments.
The Senate held such a session on Tuesday and planned another one on Friday. Republicans contend Obama cannot make a recess appointment during a break of less than three days, based on years of practice.
Yet the Obama White House has determined that such an approach is a gimmick.
For all practical purposes, the Senate is in recess and Obama is free to make the appointment on his own, administration officials told the AP.
Since the practice of pro forma sessions began in earnest in 2007, never has a president made a recess appointment during such a session, officials said.
Wary that Obama might do so, Republican congressional aides began warning Tuesday that the president would be undermining the nation’s systems of checks and balances and overturning precedent — not to mention deepening his troubles with Republicans in a town defined by gridlock.
The president also was expected to announce other recess appointments on Wednesday.
Until now, he has made 28. Bush made more than 170 during his presidency. Bill Clinton made almost 140.
Republicans have had little opposition if any to the qualifications of Cordray, a former Ohio attorney general. Their objection is with the consumer agency itself, which they claim has too much power and too little transparency and accountability.
Obama and his team say lawmakers should try to revise the Wall Street oversight law if they don’t like it, not keep the agency from performing its job.
The White House attempted to rally public support for Cordray and push senators to support his nomination, but the effort failed. In December, Republicans kept Cordray’s nomination from coming to a vote. Massachusetts Sen. Scott Brown was the only Republican who voted in favor of halting the delay tactic.
Before his remarks at a high school in a Democratic suburb of Cleveland, Obama planned to meet with a family who got taken advantage of by a mortgage broker. He wants to use their story as an example of how the consumer agency can crack down on such practices.
Obama was traveling to the most Democratic congressional district in Ohio, a Cleveland suburb, a day after Mitt Romney won Iowa’s Republican presidential caucuses by just eight votes. Obama’s trip signals the White House’s intent to keep the president in the public eye even as the political world focuses on the GOP’s selection process.
The White House’s choice of Ohio for Obama’s first presidential trip of 2012 underscores the state’s high-profile role in presidential politics. It is a swing state that went for George W. Bush in 2004 and for Obama in 2008.
© Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Northwest wheat 
WHS on January 04 at 7:54 a.m.
And President Obama has my support on this! Way to go Big O! Let the repubs know that if they are unwilling to govern, then you will.
WHS
johnclarke on January 04 at 8:03 a.m.
I am constantly amazed at all the effort the Republicans will put into NOT doing their jobs.
Bruce (aka thatoneguy) on January 04 at 8:34 a.m.
Clearly Obama has his priorities backwards. Wall Street needs protection from rapacious consumers who are trying to undermine their record profits and multimillion-dollar bonuses.
citizenX on January 04 at 8:38 a.m.
It’s good to see Obama making his leadership role clear to the middle class by appointing Cordray, when Repubs obstruct. I also agree with his suggestion to Congress to stand-up for their constituents and pass some Wall Street oversight laws. Oh wait, that’s right, the Repubs already are, because they think their constituents = corporation “people.”
WHS on January 04 at 8:42 a.m.
Well, when the entire “republican” platform is centered around fighting their country, I am not surprised at anything they do anymore… What would surprise me is if the republican machine actually decided to govern instead of just whine, bitch, piss and moan about their President.
What these morans don’t get, is that if they actually did their jobs, they would probably win the next election. The majority of America would have supported them… Instead, they would rather concentrate their energies on being anti-America, then being actual representatives of the people and doing their job.
WHS
DickAdams on January 04 at 8:54 a.m.
Obama, should jail some of the crooks on Wall Street rather than campaigning to be reelected. Obama should do what`s good for America instead. Its difficult for his ilk to discuss all the money he has received from the Wall Street crowd. Does Obama think the citizens don`t wonder about all the money he`s received from some of the crooks?
peacemonger on January 04 at 9:02 a.m.
I am constantly amazed at how backward thinking and disconnected the Repulsives are. Their failed policies are what got us in to this mess and made the so-called “job creators” even richer while the middle-class got poorer. Now they want to convince people to go back to their old ways for more of that? My prediction is that class warfare will erupt in 2012 and Obama will win.
WillyPeter on January 04 at 9:31 a.m.
…..”even though the Senate contends the move is inappropriate”…….HOOT!
Someone needs to tell the President that the Senate is controlled by the Democrats…..:-)
johnclarke on January 04 at 9:43 a.m.
DickAdams on January 04 at 8:54 a.m.
Obama, should jail some of the crooks on Wall Street rather than campaigning to be reelected. Obama should do what`s good for America instead. Its difficult for his ilk to discuss all the money he has received from the Wall Street crowd. Does Obama think the citizens don`t wonder about all the money he`s received from some of the crooks?
Dick, why don’t you just post “I hate Obama” and save us all a bunch of reading? Exactly which crooks should Obama be jailing, specifically ? Also, what laws have been broken? I’m pretty sure that this topic (jailing people) is handled by the FBI and Attorney General. The President does not have arrest powers.
http://www.cbsnews.com/video/watch/?id=7390536n
You might take a minute and check out this 60 minutes episode.
jddavis on January 04 at 9:56 a.m.
This is great media reporting! Lost in translation is that the Senate is controlled by the Democrats, not the Republicans. Harry Reid sets the “schedule” for the Senate, and controls what issues are brought forth. The Democrats have enough votes in the Senate to get by whatever Republican “obstructionism” there is.
Once again, the media and Obama are counting on your ignorance to project blame to the Republicans. DId you fall for it?
liberal_in_right_wing_land on January 04 at 10:03 a.m.
Obama should jail people…..gotta love the republicans who don’t even know how this countries laws work.
liberal_in_right_wing_land on January 04 at 10:09 a.m.
To the geniuses on here who keep saying the democrats control the senate, you are correct in that, however you righties seem to be forgetting that the senate has changed its rules to where 60 votes became the majority to win anything and because of this all it takes is for ONE republican senator to block anything that the democrats in the senate try to pass.
I know watching Fox News you don’t hear about these kind of things, but yeah try doing a little research into things before posting on here making yourself look like misinformed idiots.
jddavis on January 04 at 10:12 a.m.
So Liberal, you are saying that the Senate requires 100 votes to pass any one piece of legislation?
johnclarke on January 04 at 10:13 a.m.
jddavis on January 04 at 9:56 a.m.
This is great media reporting! Lost in translation is that the Senate is controlled by the Democrats, not the Republicans. Harry Reid sets the “schedule” for the Senate, and controls what issues are brought forth. The Democrats have enough votes in the Senate to get by whatever Republican “obstructionism” there is.
Once again, the media and Obama are counting on your ignorance to project blame to the Republicans. DId you fall for it?
Well no. Those of us that actually read understand it is a rules trick being used by Republicans and it was used in the past by Democrats. Obama is not standing for it. This has nothing to do with who controls the Senate. Apparently you are falling for it.
Scoutster on January 04 at 10:20 a.m.
jddavis..
The Senate, in it’s current polarized version, effectively requires 60 votes to pass anything contentious as that is the number required to end debate.
So, if your major legislative goal is to thwart the President at any cost to prevent his reelection (which is the Minority Leader’s explicit goal for this session), then it only takes a single yahoo to stop the whole circus.
Not 100, but 60.
pmbrown49 on January 04 at 10:24 a.m.
You need 60 to get anything done. If the GOP takes control of the Senate in 2012 (regardless of who the President is), but doesn’t get a 60 majority, get ready for 4 more years of gridlock and obstruction from the minority party.
liberal_in_right_wing_land on January 04 at 10:32 a.m.
jddavis, can you not read as well as not understand how the government works? When did I EVER say you need 100 votes to pass anything.
Man, you righties are so dumb it hurts my head sometimes.
Nugget on January 04 at 10:33 a.m.
Way to go Oblamea! Every time you circumvent the process that was put in place by our forefathers by thumbing your nose at our Constitution & the process of our laws, it is another nail in your coffin (so to say in the election process).
There is no way I will vote for someone that has decided he is God, King & Dictator of this country & will continually go around our legislation to get what he wants. The demoncrats have control of the senate & he still can’t get anything done. Yes, the demoncrats had control of BOTH the house & senate for two years & still couldn’t get anything done. Blame it all on the Republicans. But when it comes down to voting……just remember this bit……”Obama has his own agenda & it doesn’t matter how our congress votes. Obama will continue to do as he pleases by ruling as a dictator. The only way to change it is to vote him out!!!!!!!!
meadman on January 04 at 10:38 a.m.
Great Job, President Obama!!!! The vast majority of thinking Americans are in total agreement with the need to get this agency up and running to protect us. Naturally the agency could be a threat to the 1% who own the GOP, so the Republicans are doing all they can to stop it.
It is about time the President started calling the bluff of the GOP and let the public see where the gridlock problem arises – from Republicans who don’t want to give Obama ANYthing that could be viewed as a ‘win’. They would rather (further) destroy the country, hurt the economy, and defeat Obama than do anything to help the middle class citizen. The jobless rate is falling slightly, and the economy is picking up slightly and that is viewed as bad news by the GOP…..
jddavis on January 04 at 10:43 a.m.
Liberal “…all it takes is for ONE republican senator to block anything that the democrats in the senate try to pass.”
So it follows Liberal, that 100 votes is needed to pass everything/anything. Oh…That isn’t what you said?
liberal_in_right_wing_land on January 04 at 10:45 a.m.
Nugget,
Where was the outrage when Bush did this 170 times, Obama has only done it 28 times, its far from unconstitutional.
If this is final nail in his coffin, why are most Americans actually in favor of this agency and what it does and wanted Cordray (or anyone) to be appointed to this position? Sorry, its the republicans who are nailing in the final nail in their coffin buddy.
You might be upset about this, but then I guess you like banks to screw you over.
liberal_in_right_wing_land on January 04 at 10:47 a.m.
jddavis, ok if thats how you want to interrupt that, fine, whatever make you happy, but seriously, this is what you are trying to pick a fight over? Grow up, nothing what I said was false, your just trying to twist it around thinking your funny.
johnclarke on January 04 at 10:51 a.m.
jddavis, yes yes we all know that 60 votes are required to override a filibuster. This is something that should be changed.
Dazzeetrader11 on January 04 at 11:14 a.m.
More overreach. US doesn’t NEED this. Laws are in place now. He’s just hired another Czar. nice going and a very nice way of making Congress ( his own guys) the enemy.
He’s continuing to put a wedge between him and the COngress. It’s a two way street. He’s going to be obstructed at all turns.
Executive vs legislative branch should be equal. He’s , once again is interrupting the system in place. Remember the D’s control the Senate and they can write their own bills and laways.
He’s doing this route to SHOW why he should be elected. With this overreach, he’s gummed up the system for the people. YOu’ll see more gridlock…He’s walling himself off….plays into the hands of those who want him gone.
Koolaid drinkers beware…it’s not what it seems. This is an election stunt.
Dazzeetrader11 on January 04 at 11:22 a.m.
Worry more about this America: Mr “buck the GOP” is bucking all of you. Here’s why this fake won’t be elected. It should concern you as government expands.
.http://www.zerohedge.com/news/us-closes-2011-record-1522-trillion-debt-officially-1003-debtgdp
mikeln on January 04 at 11:25 a.m.
This is a joke. How long before corporate and the banks own this agency? They own the fda, they own the epa, they make sure this country has no energy policy even though it is the single most important national security issue EVER! We as americans have a very short attension span and will not notice when people we have not elected start making the rules for this agency. Not untill we can hold our elected officials accountable for the crap they pull will we once again have a government of the people. Really, I fill uncomfortable knowing the likes of cheany, bush, rumsfield and rove are running around free when they should be tried in a court of law for creating a war for profit, killing not only our gallant, yet misled soldiers, but untold numbers of innocents. And by the way, you so-called christains should take notice that the war in iraq was a disastor for christians in that country. They are filling mass graves as we speak with these people.
DickAdams on January 04 at 12:59 p.m.
JC: just finished reading the stuff from the url you posted and even played the “60 minuet” video clip. Is the following (I copied the part that I thought you wanted to remind me about and is as follows;
“This is justice? I don’t believe this attorney general. It is beyond belief that there has been no prosecution against fat cats on wall street, Bank of America, Countrywide, and City Bank. Beyond belief. The corruption runs from congress and obviously the justice department.”
And your nonsense remark telling me, Obama does not have arrest powers. No he doesn`t, but Obama can sure as hell fire his underlings for overlooking the laws of the land. Obama, should be firing a few of his appointments, more especially his AG who thinks he is above the law by looking the other way while weapons were sent to drug gangs in Mexico.
BTW, I don`t intend to get into other people Obama has appointed and should be fired. If you haven`t heard about what they have done, so be it. You might be spending too much time posting and maybe not enough time reading?
johnclarke on January 04 at 1:09 p.m.
Same questions Dick. Specifically, what laws have been broken? You tell me what the crimes are. In fact, pick up the phone and call the AG, because clearly he is missing some aspect of the law that you know all about.
And again, for the last time - you are not qualified to insult me. Here, if you like reading so much then read this.
http://www.msnbc.msn.com/id/43024309/ns/business-us_business/t/why-no-wall-st-bigwig-has-been-prosecuted/
Diana on January 04 at 1:15 p.m.
@Nugget: “Oblamea”. Clever. Did you make that one up all by yourself?
“Yes, the demoncrats had control of BOTH the house & senate for two years & still couldn’t get anything done.”
The fact is the majority only lasted 6 months. Election 2008 gave Democrats a total of 58 Democratic Senators. Spector switched parties in April, which brought the count to 59. Sen. Franken didn’t get sworn in until July 7, 2009, which is when the count went up to 60. Ted Kennedy passed away in August and his replacement was named at the very end of September and was then replaced with a Republican in January.
I know it’s too complicated for the bagger brain to comprehend, but try.
johnclarke on January 04 at 1:16 p.m.
http://en.wikipedia.org/wiki/Dodd%E2%80%93Frank_Wall_Street_Reform_and_Consumer_Protection_Act
Um, you all rememeber that this whole thing was like a law and stuff, right ? This agency was not created out of thin air.
Verbal on January 04 at 4:42 p.m.
Just to put this out there:
Number of recess appointments according to Congressional Research Service-
Ronald Reagan-240
George H W Bush-77
Bill Clinton-140
George W Bush- 171
Barack Obama-28
DickAdams on January 04 at 5:01 p.m.
JC:
One final note. I`ll tell you about a true story and how it affected me and violated the law. Washington Mutual lost there records regarding my checking accountant. While I didn`t loose a lot of money, never the less my checking account and money evaporated. Subsequently, I met with one of the VPs and brought with me my checking account statement they had mailed to me showing my account number and the balance of money in my account. They had no record of it in there computer files, not even my account number. I gathered from our conversation other accounts may have been lost as well. My visit with the WM VP took place shortly after the bankruptcy of WM and the Chase purchased WM as reported in the Spokesman Review. I contacted Editor Doug Floyd and asked him if he would investigate and expose some facts about those of us where money was lost in the shuffle. It appeared to me Doug Floyd (by himself) decided not to publish one thing that WM did wrong. As a matter of record, Floyd told me his checking account was in tact and said he`d been at the downtown WM the same day that I had. My intent and purpose that day was to close out my checking account and withdraw my money but found out instead the evaporation of money and records. Floyd told me the employees were in a party mood because of the Chase announcement which prevented laying off WM employees. I got to thinking about Floyd refusing to use my story, and (my guess was) I thought Dougy boy felt it may embarrass the Lilac City with “another scandal”. But who knows? JC you might think the law was not broken but I do.
Enough out of me. Fini, period.
misjustice on January 04 at 6:25 p.m.
“Obama bucks GOP”; which really ticks off the GOP…
; )
johnclarke on January 04 at 6:51 p.m.
Dick, again if you could kindly stick to the topic ? I just was asking a simple question and trying to get you to back up your posts attacking Obama. Like I said pal, just post ” I hate Obama” and save a bunch of time.
Also, if you had an account at any FDIC insured bank it can’t just disappear. Contacting the newspaper will get you nothing. Call the FDIC, show them your records. I don’t believe you.