SMRs and AMRs

Wednesday, January 04, 2012

Obama bypassing Senate to appoint Richard Cordray consumer chief

By Jim Puzzanghera and Lisa Mascaro
LA Times

This post has been corrected, as indicated below.

8:25 AM PST, January 4, 2012

Reporting from Washington

President Obama will appoint former Ohio Atty. Gen. Richard Cordray on Wednesday to be the first director of the new Consumer Financial Protection Agency, making a controversial decision to install Cordray while the Senate is in brief recess to avoid Republican opposition, according to a White House official.

Obama’s move, to be announced during a visit to Ohio, is likely to be challenged in court as he will be the first president in more than two decades to make such a so-called recess appointment during a Senate break of less than three days.

The move is sure to infuriate Senate Republicans, who have been near unanimous in blocking Cordray’s appointment. It also will anger many in the financial services industry, who strongly opposed creation of the agency.

House Speaker John A. Boehner (R-Ohio) blasted Obama's move as "an extraordinary and entirely unprecedented power grab." Senate Minority Leader Mitch McConnell (R-Ky.) said Obama had "arrogantly circumvented the American people" by breaking with long-standing precedent on recess appointments.

(More here.)

1 Comments:

Blogger Tom Koch said...

The Senate is still in session. Too bad the LA Times and Vox Verax cannot bring themselves to criticize President Obama’s power grab. I hoped for a fuller, less partisan version of the truth.

7:42 PM  

Post a Comment

<< Home