The Republican Party is in full attack on the new Consumer Financial Protection Bureau passed by the Democrats into law after a long battle, in which Elizabeth Warren became the number one target of the opposition party, and was unable to be named head of the new agency she helped create.
Instead, Elizabeth Warren is running for the US Senate, and in her place, former Ohio Attorney General Richard Cordray was nominated to head the new agency.
But instead of Barack Obama appeasing the opposition by Warren’s withdrawal, the Republicans have now gone ahead and prevented a vote on Cordray’s nomination, which would get a majority if the 60 vote filibuster requirement for a vote was possible, but instead the vote was 53-45.
Interestingly, the one Republican vote for Cordray was from Massachusetts Senator Scott Brown, who faces Warren in his Senate reelection battle next year, and obviously wanted to cover his rear end, particularly with some polls now showing Warren leading Brown, who has been called the “darling” of the Wall Street bankers in regards to campaign contributions!
President Obama denounced the Senate vote, and is considering a recess appointment to get Cordray into the position. Meanwhile, Utah Senator Orrin Hatch claims the bill is harming the banks, as if they do not make enough profit, and have not done great harm to millions of homeowners and those who use their credit cards, with illegal, unethical, and immoral actions!
Obama needs to declare greater war on the banks, as they are the greatest evil that exists in America, and the most responsible for the economic collapse we are involved in, and some of these Chief Executive Officers and their underlings need to be prosecuted and go to prison for a long time for their reprehensible white collar crimes that have destroyed so many people!