Senate blocks Richard Cordray confirmation to head consumer watchdog agency

[Faygo Kid]

Source: Washington Post

In a long-awaited vote Thursday morning, Senate Republicans blocked the confirmation of President Obama’s nominee to lead his signature consumer watchdog agency, a move that prevents it from exercising many of its broad new powers.

Republicans relied on a procedural vote to keep the Senate from even considering former Ohio attorney general Richard Cordray for the top job at the Consumer Financial Protection Bureau.

By a vote of 53 to 45, Senate Democrats were unable to close off debate to allow the confirmation to proceed; 60 votes were needed to end a filibuster and proceed.

Though GOP lawmakers have praised Cordray’s qualifications for the job -- he currently serves as the CFPB’s director of enforcement -- they have pledged to prevent any candidate from being confirmed unless significant structural change are made to the bureau.

Read more: http://www.washingtonpost.com/blogs/2chambers/post/senate-republicans-block-cordray-as-obama-consumer-watchdog-nominee/2011/12/08/gIQA6j9BfO_blog.html?hpid=z1

[Botany]

1. They are on the pay roll of the rich and powerful

We should win the next election by 10 billion votes.

[ProSense]

2. 45 GOP Senators Filibustering Consumer Protection Nominee Have Received Millions From Wall Street...

45 GOP Senators Filibustering Consumer Protection Nominee Have Received Millions From Wall Street...

[Nancy Waterman]

3. The harm to our servicemen on this issue should be pushed

It was explained on Rachel's show last night. Our servicemen are being charged up to 300% interest on loans because there is no consumer protection in place due to the GOP refusing to confirm a leader for the agency. The Consumer Protection agency can't
fulfill many of its tasks without a leader confirmed, according to the statue that created it. The issue with our military should be pushed in the media. The GOP are responsible for this egregious situation.

On edit: Here is the link to the Gene Sperling interview where he explained this:

http://www.msnbc.msn.com/id/26315908/vp/45591748#45591748

[tridim]

4. Vote for us, we're against consumer protection!

Good luck with that GOP assholes.

[SpiralHawk]

5. Another 1% RepubliCorp (R) victory over America

and Americans

[SoapBox]

6. The Party of No...

continues to say NO.

[vminfla]

7. When was a simple majority not enough to win

60 votes is arbitrary and has no basis in constitutional law.

[Bogart]

"consumer watchdog agency" LOL...!

Taxpayers are actually funding a lapdog agency.

[emulatorloo]

9. Then why are Republicans so hell bent on destroying it?

[Bogart]

19. Knee jerk reaction--because Democrats support it.

[Bogart]

8. *

[Frustratedlady]

10. Is there a list of any Dems who voted against this in the House or Senate?

[brooklynite]

11. This is a nomination...not up for discussion in the House.

[Frustratedlady]

15. I'm mixed up. I thought the House rejected it yesterday...not because of him,

but because of the concept.

Can't mix politics and Christmas preparation. Sorry.

[brooklynite]

18. To your bigger point...no Democrat voted "no"

[EC]

12. They better find a way to shut down the Senate

for Xmas so there can be some recess appointments. Harry letting them get away with keeping the Senate open and even agreeing to it, will be unforgivable. This has reached emergency status in so many departments that need heads and so many districts that need judges.

[Swede]

17. Last summer the GOP kept 1 or 2 senators in Washington just to block recess appointments.

They'll do it again.

[jtrockville]

13. Is this what the GOP describes as the "Nuclear Option"?

[RoccoR5955]

14. Look at the letters of the word "Nuclear"

The RepubliCONs can use them in many ways. It can be "unclear," or "real nu, c"
They just are under orders from their corporate masters to not give Obama ANYTHING.

[pampango]

16. TP: 45 GOP Senators Filibustering Consumer Protection Nominee Have Received Millions From Wall Stree

http://thinkprogress.org/economy/2011/12/08/384769/cordray-filibuster-raised-millions/

The Senate today is scheduled to vote on the nomination of former Ohio Attorney General Richard Cordray to head the Consumer Financial Protection Bureau, the new agency created by the Dodd-Frank financial reform law. It’s unlikely, at this point, that Democrats have enough votes to overcome a Republican filibuster. Forty-five Republican senators have pledged to block any nominee until structural changes are made to the Bureau that would undermine its effectiveness.

Wall Street banks have been fighting the new agency tooth and nail, and as it turns out, the 45 Republicans who have vowed to block the agency’s director have been lavished with donations from the financial services industry, as the Public Campaign Action Fund noted:

– The 44 Senate Republicans who signed a letter in May pledging to filibuster any CFPB nominee (plus Sen. Dean Heller who later added his name once appointed to the Senate) have received over $6.5 million from the financial industry in 2011 and nearly $125.6 million over their careers.

So far, just one Republican has broken ranks and said that he will support Cordray: Sen. Scott Brown (R-MA), who is facing a strong challenge from Prof. Elizabeth Warren. As ThinkProgress’ Ian Millhiser has noted, if the GOP continues to filibuster Cordray, President Obama can always break out the Roosevelt precedent, in order to allow Cordray to do his job and allow the Bureau to begin the work for which it was created.

[Zorra]

21. occupy nt

[COLGATE4]

20. Headline: "Senate blocks Obama's nominee ________ for __________

Just standard daily fare