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Senate blocks Richard Cordray confirmation to head consumer watchdog agency

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Faygo Kid Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-08-11 10:22 AM
Original message
Senate blocks Richard Cordray confirmation to head consumer watchdog agency
Source: Washington Post

In a long-awaited vote Thursday morning, Senate Republicans blocked the confirmation of President Obamas nominee to lead his signature consumer watchdog agency, a move that prevents it from exercising many of its broad new powers.

Republicans relied on a procedural vote to keep the Senate from even considering former Ohio attorney general Richard Cordray for the top job at the Consumer Financial Protection Bureau.

By a vote of 53 to 45, Senate Democrats were unable to close off debate to allow the confirmation to proceed; 60 votes were needed to end a filibuster and proceed.

Though GOP lawmakers have praised Cordrays qualifications for the job -- he currently serves as the CFPBs director of enforcement -- they have pledged to prevent any candidate from being confirmed unless significant structural change are made to the bureau.

Read more: http://www.washingtonpost.com/blogs/2chambers/post/sena...
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Botany Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-08-11 10:24 AM
Response to Original message
1. They are on the pay roll of the rich and powerful
We should win the next election by 10 billion votes.
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ProSense Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-08-11 10:26 AM
Response to Original message
2. 45 GOP Senators Filibustering Consumer Protection Nominee Have Received Millions From Wall Street...
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Nancy Waterman Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-08-11 10:26 AM
Response to Original message
3. The harm to our servicemen on this issue should be pushed
Edited on Thu Dec-08-11 10:28 AM by Nancy Waterman
It was explained on Rachel's show last night. Our servicemen are being charged up to 300% interest on loans because there is no consumer protection in place due to the GOP refusing to confirm a leader for the agency. The Consumer Protection agency can't
fulfill many of its tasks without a leader confirmed, according to the statue that created it. The issue with our military should be pushed in the media. The GOP are responsible for this egregious situation.

On edit: Here is the link to the Gene Sperling interview where he explained this:

http://www.msnbc.msn.com/id/26315908/vp/45591748#455917...
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tridim Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-08-11 10:26 AM
Response to Original message
4. Vote for us, we're against consumer protection!
Good luck with that GOP assholes.
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SpiralHawk Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-08-11 10:32 AM
Response to Original message
5. Another 1% RepubliCorp (R) victory over America
and Americans
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SoapBox Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-08-11 10:33 AM
Response to Original message
6. The Party of No...
continues to say NO.
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vminfla Donating Member (992 posts) Send PM | Profile | Ignore Thu Dec-08-11 10:35 AM
Response to Original message
7. When was a simple majority not enough to win
60 votes is arbitrary and has no basis in constitutional law.
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Bogart Donating Member (49 posts) Send PM | Profile | Ignore Thu Dec-08-11 10:39 AM
Original message
"consumer watchdog agency" LOL...!
Taxpayers are actually funding a lapdog agency.
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emulatorloo Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-08-11 10:42 AM
Response to Original message
9. Then why are Republicans so hell bent on destroying it?
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Bogart Donating Member (49 posts) Send PM | Profile | Ignore Thu Dec-08-11 12:46 PM
Response to Reply #9
19. Knee jerk reaction--because Democrats support it.
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Bogart Donating Member (49 posts) Send PM | Profile | Ignore Thu Dec-08-11 10:39 AM
Response to Original message
8. *
Edited on Thu Dec-08-11 10:39 AM by Bogart
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Frustratedlady Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-08-11 10:47 AM
Response to Original message
10. Is there a list of any Dems who voted against this in the House or Senate?
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brooklynite Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-08-11 10:51 AM
Response to Reply #10
11. This is a nomination...not up for discussion in the House.
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Frustratedlady Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-08-11 11:46 AM
Response to Reply #11
15. I'm mixed up. I thought the House rejected it yesterday...not because of him,
but because of the concept.

Can't mix politics and Christmas preparation. Sorry.
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brooklynite Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-08-11 12:17 PM
Response to Reply #15
18. To your bigger point...no Democrat voted "no"
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EC Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-08-11 10:52 AM
Response to Original message
12. They better find a way to shut down the Senate
for Xmas so there can be some recess appointments. Harry letting them get away with keeping the Senate open and even agreeing to it, will be unforgivable. This has reached emergency status in so many departments that need heads and so many districts that need judges.
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Swede Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-08-11 11:50 AM
Response to Reply #12
17. Last summer the GOP kept 1 or 2 senators in Washington just to block recess appointments.
They'll do it again.
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jtrockville Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-08-11 10:58 AM
Response to Original message
13. Is this what the GOP describes as the "Nuclear Option"?
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RoccoR5955 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-08-11 11:45 AM
Response to Reply #13
14. Look at the letters of the word "Nuclear"
The RepubliCONs can use them in many ways. It can be "unclear," or "real nu, c"
They just are under orders from their corporate masters to not give Obama ANYTHING.
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pampango Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-08-11 11:47 AM
Response to Original message
16. TP: 45 GOP Senators Filibustering Consumer Protection Nominee Have Received Millions From Wall Stree
http://thinkprogress.org/economy/2011/12/08/384769/cord... /

The Senate today is scheduled to vote on the nomination of former Ohio Attorney General Richard Cordray to head the Consumer Financial Protection Bureau, the new agency created by the Dodd-Frank financial reform law. Its unlikely, at this point, that Democrats have enough votes to overcome a Republican filibuster. Forty-five Republican senators have pledged to block any nominee until structural changes are made to the Bureau that would undermine its effectiveness.

Wall Street banks have been fighting the new agency tooth and nail, and as it turns out, the 45 Republicans who have vowed to block the agencys director have been lavished with donations from the financial services industry, as the Public Campaign Action Fund noted:

The 44 Senate Republicans who signed a letter in May pledging to filibuster any CFPB nominee (plus Sen. Dean Heller who later added his name once appointed to the Senate) have received over $6.5 million from the financial industry in 2011 and nearly $125.6 million over their careers.

So far, just one Republican has broken ranks and said that he will support Cordray: Sen. Scott Brown (R-MA), who is facing a strong challenge from Prof. Elizabeth Warren. As ThinkProgress Ian Millhiser has noted, if the GOP continues to filibuster Cordray, President Obama can always break out the Roosevelt precedent, in order to allow Cordray to do his job and allow the Bureau to begin the work for which it was created.
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Zorra Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-08-11 05:58 PM
Response to Reply #16
21. occupy nt
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COLGATE4 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-08-11 04:51 PM
Response to Original message
20. Headline: "Senate blocks Obama's nominee ________ for __________
Just standard daily fare
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