Good news from team Obama:
In a defiant display of executive power, President Barack Obama on Wednesday 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.
The GOP is already freaking out, but any way you slice this, imho, it is a win for Democrats. First, it gets someone in the CFPB and working, which is good news for all Americans. The best politics is delivering for the American people- do the right thing, and often you will be rewarded. Second, it pushes a confrontation with the GOP, who will then have to explain why they are more interested in bickering over someone whose entire mission is to protect American consumers rather than creating jobs and helping the economy. Additionally, even if this is somehow reversed, it might possibly force the media to take notice of the GOP’s unprecedented attempts to block all Obama appointments. Again, I realize that is a big “if,” since they are all now focused on Rick Santorum’s sweater vests. And finally, it might, if only for a brief moment, shut up some of the critics who constantly complain that Obama never fights back. Bwahahaha. Just kidding.
Ok, so the last two aren’t very realistic. The first two are pretty worthwhile, though.