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Not that anyone here needs the reminder, but : Sen. Warren wouldn’t be there to rebuke the GOP revanchists if they hadn’t succeeded in blocking her appointment to the division she fought for and founded. These tools don’t have ‘doubts’ — they are flatly, unpersuadably anti-consumer and pro-financial-swindler.
Tom Curry at NBCNews:
The Republicans lost the struggle over the Dodd-Frank law to impose new rules on the financial sector, but three years later they’re still tenaciously fighting what’s probably the best-known Dodd-Frank creation: the Consumer Financial Protection Bureau (CFPB)…
Until Obama agrees to changes in the CFPB structure to make it a multi-member board akin to the Securities and Exchange Commission and other regulatory agencies, Republicans said they will block a confirmation vote on Cordray. They also want to subject the CFPB to annual appropriations by Congress. Right now the law allows CFPB to draw its funds directly from the Federal Reserve…
Personally, Cordray sent all the signals of a reasonable and accommodating man in his testimony. And Republicans reciprocated. Crapo told Cordray, “I appreciate our private conversations about the importance of accountability and oversight. I recognize that you can’t say what the White House and Congress will ultimately decide with regard to the issues with regard to… changes in the structure of the agency.” But the Idaho Republican told Cordray he “seeks your support” in resolving the dispute with Obama.
Another Banking Committee Republican, Sen. Bob Corker of Tennessee, told Cordray he appreciated the way Cordray had dealt with him and his staff “and I do hope that over the course of the next short period of time we’re able to figure out a way for the entity to function in a manner which makes everyone on both sides of the aisle feel comfortable.”
But Corker said after he left the hearing that “we’re not there yet” – in other words Republicans still haven’t been able to strike a deal with the White House on redesigning the CFPB…
TooManyJens
YOU LOST, FUCKERS!
Parmenides
I don’t know in what world their opposition can be seen as anything but shilling for the richie rich. This needs to be put into a pithy slogan and hung around their necks in 2014.
As so much does.
srv
@Parmenides: You people just don’t understand. Real Republicans are consistent. They hated bailouts for the banks and they hate a bureau that will bailout consumers.
Free Markets, the Murican Way.
Frankensteinbeck
@Parmenides:
To a large portion of our country, their hate for Obama vastly trumps their hate for the banks.
JGabriel
Tom Curry at NBCNews (via Anne Laurie @ Top):
Redesigning? Well, that’s Orwellian.
“Yeah yeah, Joey, c’mere. Me and the boys here, we’re just gonna redesign your face for ya. Capice?”
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Yutsano
@JGabriel: Redesigning = stripping of funding when things don’t go the Republicans’ (and some Democrats’) paymasters’ way. It’s an old Congressional trick to just apply no funding to an agency they disapprove of and then starve it slowly, or make it so there can never be a quorum of appointees. Slimy and underhanded, it is.
@TooManyJens: THIS!! The House only has a majority because of gerrymandering NOT popular vote. Fuckers are on massively shaky ground and think they’re on stone.
Parmenides
@Frankensteinbeck:
And we’re never going to get them like we are never going to get the guy who stands in the intersection with the bloody doll around his neck waving signs that equate abortion with the holocaust.
But there are a lot of people out there who have fuzzy notions about politics and having an easy way to go to someones door and say republicans don’t want the government to make banks tell you what fees there are in your credit card and home loan.
TG Chicago
This is why I can never sign on to the Democratic Party.
How hard is it to say “The financial collapse happened because this shit was unregulated. Now we’re regulating it. But Republicans want it to stay unregulated, which will cause another collapse. Bad idea, huh?”
Not that hard!
And yet Democrats will never, ever do it. So I’m not going to sign on to a group that’s determined to be losers.
dcdl
The changes cannot happen fast enough. I cannot say enough strong words against big banks. Been dealing with Wells Fargo since 2008. The system is so rigged against people with no resources and little money. It’s hard not to feel helpless and depressed all the time. There is no one to speak for us ‘common’ people. Not really. The sad part is most of us try to do the right thing, but get screwed anyways. The big banks feel no remorse about doing the wrong thing and get rewarded.
SiubhanDuinne
@Parmenides:
You know what? [S]hilling for the richie rich works just fine for me.
JS
Democrats signed off on Legislation that repealed Glass Steagall at the end of Clinton’s first term. That stupidity did just as much harm as Bush Republican financial policy during the 00s, not to mention Clinton’s fault in signing that legislation to kill a great act that was produced in the 30s to make sure the Great Depression never happened again. To say that the economic issues of 2008 were strictly the Republicans fault is just not true, there are plenty of Democrat corporate schills to go around on that one, unfortunately. I like Elizabeth Warren. I do hope that she does more than create slogans like “too big to jail”. I love the intentions here but until I see some great legislative ideas come forth on her part, it’s going to be nothing more than well intentions and that’s it.
burnspbesq
Let’s not kid ourselves: the goalposts are on wheels where CFPB is concerned. If the Administration agreed to reconstitute CFPB along the lines of the SEC, and nominated Cordray to a seat the five-member board, he would still get filibustered, and the agency’s budget would still be on the wrong end of Republican control of the appropriations process in the House.
Cordray’s biggest problem, as far as Republicans are concerned, is that he’s competent, and their ideology can’t abide competent people in positions of power that are designed to improve the lives of the non-affluent.