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Elizabeth Warren on Richard Cordray's nomination to head the CFPB

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ProSense Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-17-11 10:20 AM
Original message
Elizabeth Warren on Richard Cordray's nomination to head the CFPB
Cordray is Obama's choice to lead Consumer Financial Protection Bureau

President Barack Obama will nominate former Ohio Attorney General Richard Cordray to head a powerful new consumer protection agency, White House officials said.

<...>

Warren, who hand-picked Cordray to serve in the agency shortly after his loss in last November's elections, expressed support for his selection.

"Rich has always had my strong support because he is tough and he is smart-and that's exactly the combination this new agency needs," she said. "He was one of the first senior leaders I recruited for the agency, and his work and commitment have made it clear that he will make a stellar director."

<...>


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CaliforniaPeggy Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-17-11 10:21 AM
Response to Original message
1. So, she likes him.
That's good enough for me.

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tekisui Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-17-11 10:32 AM
Response to Reply #1
3. Her endorsement goes a long way with me.
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warrior1 Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-17-11 10:43 AM
Response to Reply #1
6. me too
She would have been better, but this is ok.
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Bluzmann57 Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-17-11 10:22 AM
Response to Original message
2. Uh-oh
Warren's endorsement is probably the kiss of death for Cordray's nomination because the Wall Streeter repukes aren't going to approve him.
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CaliforniaPeggy Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-17-11 10:33 AM
Response to Reply #2
4. I think you might be surprised...We shall see.
It would seem awfully strange if she didn't endorse someone.

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Cal33 Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-17-11 12:35 PM
Response to Reply #2
11. I was thinking of the same thing. So, couldn't Obama make a
recess appointment now, which will be good until Dec. 2012. If
Obama wins in 2012, Cordray will have to be re-appointed in
Jan. 2013. If Obama loses, it wouldn't make any difference
anyway.
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vaberella Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-17-11 07:19 PM
Response to Reply #2
23. Probably not. That's what happens. n/t
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monmouth Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-17-11 10:35 AM
Response to Original message
5. If she's happy, I'm happy. Her endorsement goes a long way..n/t
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flpoljunkie Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-17-11 11:35 AM
Response to Original message
7. Warren reportedly wanted the job, but acknowledged she would not be confirmed by the Senate
Richard Cordray, not Elizabeth Warren, to lead CFPB


'Richard Cordray has spent his career advocating for middle-class families,' said the president. AP Photo Close
By ABBY PHILLIP
7/17/11 11:35 AM EDT Updated: 7/17/11 11:58 AM EDT


President Obama has selected former Ohio Attorney General Richard Cordray to lead the embattled Consumer Financial Protection Bureau, POLITICO confirmed Sunday morning.

Obama will make the announcement on Monday from the White House. The report first appeared in the Columbus (Ohio) Dispatch. Cordray, 52, currently serves as the director of enforcement for the Bureau, and has been among names discussed for the position, although he has largely been absent from the public rumor mill surrounding the nomination in recent weeks.

Richard Cordray has spent his career advocating for middle-class families, from his tenure as Ohios Attorney General, to his most recent role as heading up the enforcement division at the and looking out for ordinary people in our financial system, Obama told the Dispatch.

In the report, Elizabeth Warren endorsed Cordrays nomination, even though she was not ultimately nominated to lead the agency that she has been credited with proposing.

A person familiar with Warrens thinking said that she very much wanted the job, but acknowledged that she would not be confirmed by the U.S. Senate. Her first choice, that person said, was her deputy Raj Date, who has long been considered a leading contender for the job.

Rich has always had my strong support because he is tough and he is smart-and thats exactly the combination this new agency needs, she said. He was one of the first senior leaders I recruited for the agency, and his work and commitment have made it clear that he will make a stellar director.

more...


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ProSense Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-17-11 11:45 AM
Response to Reply #7
8. Actually,
Edited on Sun Jul-17-11 11:49 AM by ProSense
I'd consider this bullshit reporting by Politico:

<...>

A person familiar with Warrens thinking said that she very much wanted the job, but acknowledged that she would not be confirmed by the U.S. Senate. Her first choice, that person said, was her deputy Raj Date, who has long been considered a leading contender for the job.

<...>

So an anonymous source is throwing out speculation even though Warren has never said any such thing?

In fact, the only thing we know of her thinking is Barney Frank stating that she told him she didn't want the job.

Now, why would her first choice be Raj Date when Richard Cordray is a stronger candidate? Also, Raj Date is not very popular among some progressives.

Time for the WSJ report

Obama to Bypass Warren, Tap Cordray to Head Consumer Agency

The Obama administration is expected to nominate former Ohio Attorney General Richard Cordray to lead the Consumer Financial Protection Bureau, according to a White House official, capping a months-long saga over who it would tap to run the new consumer agency.

The move is likely to inflame supporters of Elizabeth Warren, the popular Harvard professor who has been helping set up the bureau as a special advisor to President Barack Obama. Ms. Warren, a longtime critic of the financial-services industry, pushed for the CFPB's creation and is said to have wanted the job herself.

<...>

Politico and Murdoch's rag: Trying to fan outrage with bullshit reporting, check!

On edit: Maybe Politico and the WSJ can get an actual quote from Warren if they want to ignore the actual quote in the OP article.





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elleng Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-17-11 11:49 AM
Response to Reply #8
9. Right, its all b.s. reporting.
I'll go w Barney's take any day.
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flpoljunkie Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-17-11 01:12 PM
Response to Reply #8
13. Just because it's Politico or The Wall Street Journal doesn't make it untrue.
Edited on Sun Jul-17-11 01:15 PM by flpoljunkie
Politico did quote Elizabeth Warren. Do you think if she disagreed with President Obama's choice she would say so? Think again.

I don't know that BArney Frank has said recently she did not want the job. He has continued to push for her to head the CFPB.
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vaberella Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-17-11 07:21 PM
Response to Reply #13
24. True...but Politico always needs to be corroborated to be taken seriously.n/t
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flpoljunkie Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-17-11 01:29 PM
Response to Reply #7
17. Hmm. Politico has updated story to say Cordray 'would also have been one of Warren's to choices'
A person familiar with Warrens thinking said that she very much wanted the job, but acknowledged that she would not be confirmed by the U.S. Senate. Her first choice, that person said, was her deputy Raj Date, who has long been considered a leading contender for the job.

Update:

A person familiar with Warrens thinking said that she very much wanted the job, but acknowledged that she would not be confirmed by the U.S. Senate. In addition to Cordray, Raj Date, a top aide at the Bureau, would also have been one of Warrens top choices.

http://www.politico.com/news/stories/0711/59206.html
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Palmer Eldritch Donating Member (369 posts) Send PM | Profile | Ignore Sun Jul-17-11 12:17 PM
Response to Original message
10. I'm willing to bet that those who attack Obama for not nominating Warren will ignore this
just like when Hillary threw her support to Obama and the PUMAs balked.

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bhikkhu Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-17-11 01:03 PM
Response to Reply #10
12. That's derogatory, beside the point, and irrelevant to the OP
"balked" is almost accurate, but people with actual minds and strong positions would be expected to want assurances and clear explanations of position and agenda before moving their support from one candidate to another.

"PUMA" is just ignorant flame-bait.
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AtomicKitten Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-17-11 01:13 PM
Response to Reply #12
14. Really? It has been traditional to close ranks after the Dem primaries.
The PUMAs are the exception to that tradition within the Democratic Party.
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bhikkhu Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-17-11 01:18 PM
Response to Reply #14
15. Is PUMA used by a group to describe itself?
If I'm in error in my understanding of the word, I'd like to know.
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AtomicKitten Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-17-11 01:23 PM
Response to Reply #15
16. Yes they did choose the moniker but they've changed the acronym meaning since then.
Edited on Sun Jul-17-11 01:25 PM by AtomicKitten
Initially it was Party Unity My Ass which they later changed to Party Unity Means Action. Most of the PUMA websites continue to advocate voting against the Democratic Party en mass allegedly to "teach Democrats a lesson" or until President Obama is out of office, whichever comes first.
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bhikkhu Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-17-11 01:35 PM
Response to Reply #16
19. Ah well...I had missed that one somehow
Its hard for me to understand some of the internal divisions, particularly when they leave towards self-defeating behavior, so perhaps I make too little "brain-space" for them.

Ironically, I think the other side spends more time enforcing a fixed "herd mentality", while opinions here may be all over the map. Nevertheless, they are typically more open to reason and change if circumstances support the need, and much more individual.
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AtomicKitten Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-17-11 01:45 PM
Response to Reply #19
20. LOL. No worries.
It's not worth the brain space. Their numbers are few and at this point so far beyond reason it's laughable; they give poor sports a bad name.

"Herd mentality" versus "opinions all over the map" aptly describes the difference respectively between Rs and Ds, much to the chagrin of many cat-herders no doubt. LOL.
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AtomicKitten Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-17-11 01:30 PM
Response to Original message
18. The GOP has promised to filibuster anybody the president nominates.
NY Times

It is not clear, however, that Mr. Cordray has a better chance of winning confirmation than Ms. Warren. Forty-four Republican senators signed a letter earlier this year refusing to vote on any nominee to lead the bureau, demanding instead that Democrats agree to overhaul the agencys management structure, replacing a single leader with a board of directors.


In the end, he will probably need to recess-appoint but the GOP has pulled out all the stops to prevent a recess that would facilitate this.
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vaberella Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-17-11 07:23 PM
Response to Reply #18
25. Not surprising and to be expected. But when the nomination fails--people will blame Obama.
You know he's not a fighter. ~sigh~
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CakeGrrl Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-17-11 07:30 PM
Response to Reply #25
26. Unfortunate but true. I expect to hear
the "Why won't he LEAD???" refrain if/when the Republicans block the nomination.

Ridiculous.
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Scurrilous Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-17-11 05:45 PM
Response to Original message
21. K & R
:thumbsup:
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CakeGrrl Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-17-11 06:45 PM
Response to Original message
22. K/R
Now comes the Republican obstruction as pointed out above. One more hurdle to clear because of this gaggle of jerks.
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cottonseed Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Jul-17-11 09:37 PM
Response to Original message
27. I stand with Elizabeth.
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