We’re going to see a vote in the next two or three weeks on the confirmation of Richard Cordray for the Consumer Financial Protection Bureau, and that’s paradoxically a pretty bad sign for his confirmation. Indeed, this feels exactly like the unsuccessful confirmations of Dawn Johnsen or Goodwin Liu: a snap confirmation vote that fails, followed by a quick withdrawal of the nominee. That the White House is pushing for this vote is another indicator of this dynamic:
Senate Democratic leaders, at the urging of the White House, plan to hold a vote before Christmas on the president’s nominee to lead the new consumer-finance watchdog agency, according to Senate Democratic aides [...]
A procedural vote on Mr. Cordray’s nomination could come as early as next week, one Democratic aide said.
“Bringing up his nomination for a vote before the end of the year is a priority for us,” said a spokesman for Senate Majority Leader Harry Reid (D., Nev.).
I don’t really know what the endgame is here. The Republicans in the Senate, led by Richard Shelby, don’t think that Cordray is unfit for the office. They think that the office is unfit for the government. They don’t want the CFPB to exist. And as long as they can block a nominee for the director, they can blunt the effectiveness of the bureau (it cannot regulate nonbank financial institutions without a director). And, they hold a point of leverage to try to gut the bureau, whether through subjecting the funding to the appropriations process, turning the leadership structure from a directorship to a committee, or making for an easier veto of CFPB rulemaking by other financial regulators.
So Republicans simply will not confirm a nominee, any nominee. If the plan is to let Cordray fall on his sword and call up some “friendlier” nominee, that won’t work either. Republicans have been very clear on this point. If the plan is to simply point out Republican obstinacy, that’s nice, but it hasn’t moved the needle in the past and won’t now.
If you want to actually see a director of the CFPB, at this stage a recess appointment is the only option. And considering that the NLRB is about to go into hibernation because of a lack of commissioners, there are plenty of other recess appointments that can be made. And just to reiterate, the President has all the tools at his disposal, granted by the Constitution, to adjourn Congress and make the necessary recess appointments. The only thing missing is political will.





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This is an enormous waste of everybody’s time for the exact reasons you cite. Where is the guy who caught and killed bin Laden? Obama CAN “end run” around the republicans. Are ya’ “chicken” Mr. President.
(Rememeber, that’s how we used to egg people on in the old days)
I am not so sure if Obama wants the CFPB to exist in the first place. I have a feeling it’s similar to his really wanting a public option for healthcare.
It’s so good to see that Kenneth the Page from 30 Rock is getting a new job.
I think you may be right.
If, during the upcoming recess, he were to go to the trouble of appointing ANYONE for any recess appointment, but not the CFPB director, then that will be proof of this.
really david?
allright then, I’ll tell you.
obama’s end game is to give his team (the republicans and corporatists) exactly what they want
so now you know what the end game is
I think you may be right too.
it’s more then a feeling you have karen, it’s informed opinion demonstrated by past performance
the man is playing for the other team, he is the trojan wolf in benedict clothing
We have a President who can order and has ordered the extrajudicial murder of American citizens at will anywhere in the world. But he is mysteriously powerless to get government offices staffed.
Go figure!
‘Tis a puzzlement – you would almost think he was playing for the other team —oh, wait….
Another great waste of time, Just appoint him and get it over. What are you the President or the janitor? And while you’re growing a new pair, make damn sure it is funded, everything we buy today seems to be downsized, degraded and deregulated but still amazingly overpriced. Nothing like stacking the deck and the chairs to pull off another atrocity on the American people.
Ding.
There is no lack of political will. O is deliberately letting all these govt functions lapse under cover of Rs intransigence.
More kabuki.
There’s no “thinking” or “may” about it. It’s as plain as the nose on your face.
Actually, R intransigence is his campaign strategy.
Ok, so the Rs (and this includes Osterity) don’t want the agency to even exist.
But since it’s already there, two ways to bring it under control.
1. No official head. Benefits include slowing down the agency and what it does. But it also means the pawns they already have in the agency have free reign for now.
2. The ideal situation is to have it headed by one of their pawns, just like the SEC (and the FDA, EPA, … [insert Fed dept. here]). Because they want the same incestuous and revolving-door relationship that the SEC has with Wall Street. And then they win, again (they don’t even have the decency to let us win on these days, … or even a reach around as they skrew us from “behind”).
So that’s the end game. The only thing better than no agency, is an agency under their control. Because then, under the guise of the public interest, they can ram down all sorts of crazy stuff.
Look at the SEC. You think there is a single person there that doesn’t know exactly how much that dept. is owned by Wall Street? I mean shredding documents, and “settlements” that are insignificant to the fraud and theft? How about no indictments even?
They all know.
As do the people who work for the FBI. They are far more informed (what we term national security info. is just casual info. for them) than we can imagine. And they also just follow orders. I’m betting many do the best they can, but they literally bought senior management of the FBI. Once you buy the “leaders”, then you own the agency.
And only a complete ass-backwards moron would actually be a whistle-blower these days. Osterity and Holder know where their paychecks come from and when someone threatens their bosses, that person better beware and prepared for the shite-storm Osterity and Holder will unleash on them. They will go after these people in any way, legal or not. They will go after their lives, their jobs, their families, their houses, property/assets, and anything else. They will tie them up in court for years if they can (nothing better to impoverish someone than having them pay legal fees for years). Check and mate.
In other news, give this man a lollypoop. Does ‘no severance’ mean no big bonus when he leaves, or does it mean he’s foregoing his ‘pension’.
In any event, the work of the 0.1%ers in the airline industry is nearly finished, now that they’ve looted the employees for just about all they’re worth.
Ha! Another bumper sticker: “Vote for R intransigence; Vote for O.”
All good points.
Now that is AWESOME!!!! LOL!!
Good one eCAHN!!
Still laughing…
Bet that’s the first time you’ve seen anyone suggest ‘intransigence’ on a bumper sticker.
It’s for all those drivers with smart phones to look up what the word means while they’re driving. As long as we all spell moran correctly.
Friggin’ shame ‘cuz I don’t even know HOW to spell magmanoose, magnamamanous, magnaninmuse. There.
“Arpey distinguishes himself from his predecessor, Donald Carty. Carty resigned “after it was disclosed that…executives’ pensions were protected in a separate trust, at a time when union members were being asked to approve deep concessions for their members.”
Good link.
The sad thing is that despite his “sacrifice”, he won’t be hurting. He’s already gotten millions. His pension and all the other perks he received are secure.
All he’s done is retire. I guess there are some 1%ers who can’t stomach this much evil.
But seriously how does this help the workers, who’s pensions and benefits will now be shredded?
The guy just walks away. He was CEO, and he couldn’t do anything? At all? Bullshite.
It would have meant him getting shite from his 1%er ilk, but his future and financial well-being was secure. Unlike the workers.
So all he can do is walk away?
Fucking coward.
HUH?? Do you own a body shop or what?????
Exactly. He claims that’s important, yet he just took the one guy that might’ve fought for them out of the equation so that a new, different guy, can and likely will fight against them.
A little respect here boys….they are AMERICAN AIRLINES.
perris, you go too far. oh, your point’s fairly valid, but your metaphors are just horribly mixed. :-P
Why hasn’t the moran guy run for congress (at least; why not prez; he’d beat everyone currently in the race) like Joe the Plumber.
That’s why I awarded him a lollypoop.
Is that as in “eggs benedict”. “Cuz, I’m cofused.
google is your friend.
Is a bear catholic?
Does the pope shit in the woods?
I just got that…….. LOL.
No, I’m not slow. I just read too fast sometimes. I’m working on third quarter financials. Give me a break…….OH SHIT! I didn’t “save” that????
I gotta go.
A body shop in the daze of ‘smart’ phones sounds like the best biz opportunity I’ve heard of recently.
Hey, I looked up trojan and benedict……I got a condom site.
So many ways one could ‘runs’ with that.
Like pope’s lackeys following him around on his daily hike in the Dolomites with a chamber pot and terlit paper (or baby wipes, can’t make such an important executive decision during the kochtail hour.)
Did you know in Houston, it’s illegal to talk on your cellphone or text while in a school zone OR a topless bar???
That’s true.
Had a boyfriend in my teens who came back to the car from the drugstore and said: Aeneas was not the last of the Trojans.
I can understand the topless bar proscription. But School Zonz?
Puzzled me too. BUt they actually put up signs. The fine is $200 MINIMUM.
Suddenly I see the point. Looting parents.
One protects the tots; the other protects …
Oblabla should make an abscess appointment.
Running over children might cost the insurance companies a ton in repair bills.
Yeah. Think of all those toilet cleaners who would have to be replaced.