Keyword: cordray

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  • Why Is Obama Stockpiling Your Personal Financial Records?

    06/05/2014 4:35:58 PM PDT · by jazusamo · 52 replies
    Investors.com ^ | June 5, 2014 | IBD Editorial
    Diversity Police: Republicans are scratching their heads over the Obama regime's privacy-invading "National Mortgage Database Project." What's it for? That's easy: redistribution of wealth. In an unprecedented federal intrusion, the president's most radical financial regulators — Mel Watt of the Federal Housing Finance Agency and Richard Cordray of the Consumer Financial Protection Bureau — are creating a massive discrimination database on as many as 230 million Americans. It will encompass a mortgage holder's entire credit history — including credit scores and account balances — and all credit lines, from credit cards to student and car loans. "Why are we collecting...
  • New federal database will track Americans' credit ratings, other financial information

    05/30/2014 5:48:55 AM PDT · by Chickensoup · 60 replies
    Washington Examiner ^ | 5/30/2014 | Richard Pollock
    As many as 227 million Americans may be compelled to disclose intimate details of their families and financial lives -- including their Social Security numbers -- in a new national database being assembled by two federal agencies. The Federal Housing Finance Agency and the Consumer Financial Protection Bureau posted an April 16 Federal Register notice of an expansion of their joint National Mortgage Database Program to include personally identifiable information that reveals actual users, a reversal of previously stated policy. Sign Up for the Watchdog newsletter! FHFA will manage the database and share it with CFPB. A CFPB internal planning...
  • At Last, Congress Checks Obama's Rogue Consumer Bureau

    05/20/2014 4:30:18 PM PDT · by jazusamo · 3 replies
    Investors.com ^ | May 20, 2014 | IBD Editorial
    Oversight: Congress and some others in the media finally see the urgency in reining in Obama's rogue, out-of-control, unaccountable and secretive Consumer Financial Protection Bureau. This is something we have urged since its inception. In 2010, the Dodd-Frank Act gave birth to what we have argued is the single most powerful and least accountable agency in Washington. CFPB has the power to police virtually every financial transaction in the economy. Yet it holds its meetings in secret, has no inspector general and is funded outside the normal congressional budget process. On Wednesday, the House Financial Services Committee will take up...
  • Subpoena CFPB's Chief Over Secret Auto Data

    04/07/2014 5:15:38 PM PDT · by jazusamo · 6 replies
    Investors.com ^ | April 7, 2014 | IBD Editorial
    Power Struggle: CFPB Director Richard Cordray has snubbed yet another congressional request to disclose information about the shady methods he's using to investigate auto lenders for discrimination. Early last month, House Financial Services Committee Chairman Jeb Hensarling formally asked Cordray to explain how it is he can sue Ally Bank and other car lenders for policies that allegedly have a "disparate impact" on minorities when the industry doesn't even ID borrowers by race and investigators would have to guess their minority status. Then Hensarling pressed him for the metric he's using to determine a "statistically significant disparity" in loan pricing...
  • Washington & Wall Street: Hensarling Charges CFPB with Lack of Transparency

    03/25/2014 6:44:52 AM PDT · by george76 · 5 replies
    Breitbart ^ | 19 Mar 2014 | Christopher Whalen
    The liberal dictatorship of Richard Cordray at the Consumer Finance Protection Bureau (CFPB) came under fire this week when the head of the House Financial Services Committee (HFSC) called for the agency to open up its four advisory council meetings to the public and press. “Instead of operating behind closed doors, it’s time for the CFPB to live up to its oft-stated commitment to transparency and openness ... Wielding the power of the Dodd-Frank law, the CFPB has become an instrument for liberal tyranny focused against banks, mortgage companies, realtors, and other consumer credit professionals. The agency has been holding...
  • Financial Repression From The Obama Administration: How Savers May Be Forced To Buy Federal Debt

    12/23/2013 7:19:46 PM PST · by bkopto · 65 replies
    Forbes ^ | 12/23/2013 | William Tucker
    Some experts are concerned that the Obama Administration is poised to begin forcing Americans to stock their retirement accounts with low-return government bonds. Richard Cordray, director of the Consumer Financial Protection Board, told Bloomberg News that his new regulatory agency was mulling a move to control the $20 trillion that Americans have invested for retirement. He specifically mentioned 401(k) plans and IRAs. “That’s one of the things we’ve been exploring,” Cordray told Bloomberg reporter Carter Dougherty in January. Cordray’s seemingly stray comment was largely ignored by mainstream and financial media, but won the attention of fund managers and economists. SNIP...
  • Yet Another Government Agency Is Keeping Tabs On You

    11/20/2013 7:37:24 AM PST · by SeekAndFind · 4 replies
    RCM ^ | 11/20/2013 | Hester Pierce
    At a Senate Banking Committee hearing last week, Richard Cordray - the director of the Bureau of Consumer Financial Protection - was on the defensive with respect to the bureau's collection of information about Americans' spending habits. His unpersuasive defense of the CFPB's data collection practices was not surprising in light of the agency's flawed design. First, Mr. Cordray explained that the industry and other regulators also collect credit card information. It is difficult to understand how he reached that conclusion since he did not seem certain about the scope of the bureau's data collection efforts. Mr. Cordray did not...
  • Obama’s Secret Collaboration with ACORN Bosses

    10/17/2013 7:09:50 AM PDT · by SJackson · 13 replies
    FrontPage Magazine ^ | October 17, 2013 | Matthew Vadum
    - FrontPage Magazine - http://frontpagemag.com - Obama’s Secret Collaboration with ACORN BossesPosted By Matthew Vadum On October 17, 2013 @ 12:50 am In Daily Mailer,FrontPage | 1 Comment Former officers of the disgraced radical group ACORN are still advising the Obama administration and guiding its catastrophic far-left policies almost three years after the group filed bankruptcy.Former ACORN Housing public affairs director Bruce Dorpalen, who now runs the National Housing Resource Center (NHRC), has been meeting with and advising senior Obama administration officials on housing policy, according to good-government group Judicial Watch. The watchdog discovered the secret collaborations after filing a...
  • The Consumer Financial Protection Bureau (CFPB) is looking to create a "Google Earth" of every ..

    07/17/2013 2:36:39 PM PDT · by Texas Fossil · 15 replies
    CBS News ^ | July 16, 2013 | Craig Bannister
    The Consumer Financial Protection Bureau (CFPB) is looking to create a "Google Earth" of every financial transaction of every American, Sen. Mike Enzi (R-WY) warned today in a Senate speech opposing confirmation of Richard Cordray as CFPB director. "This bill (creating the CFPB) was supposed to be about regulating Wall Street. Instead, it's creating a Google Earth on every financial transaction.
  • McCain Orchestrates Another GOP Surrender

    07/17/2013 8:56:17 AM PDT · by servo1969 · 32 replies
    Breitbart.com/Big-Government ^ | 7-17-2013 | Mike Flynn
    Sen. John McCain spent the weekend negotiating with Majority Leader Harry Reid on a deal to avert Reid's threatened use of the "nuclear option" to change Senate rules to eliminate filibusters on Presidential nominations. Through his efforts, McCain was able to secure a complete GOP capitulation on 7 pending nominations. Reid secured all the benefits of exercising the "nuclear option" without the political cost of actually using it. Under the McCain deal, the GOP will provide enough votes to secure the 60 votes needed for cloture and proceed to final consideration of the 7 nominees. In exchange, Reid agreed to...
  • Democrats win votes on four nominees in ‘nuclear option’ showdown(Wimp McConnell caves once again)

    07/17/2013 5:25:00 AM PDT · by bestintxas · 22 replies
    wash times ^ | 7/17/13
    Bowing to an ultimatum, Senate Republicans agreed Tuesday to drop objections to key Obama administration nominees, delivering a victory to Senate Democrats who said they will shelve — for now — their own plans to change the rules and curtail filibusters. The last-minute deal, announced just before the Senate was slated to hold a critical test vote, still leaves Democrats able to employ the so-called “nuclear option” and change the filibuster rules later this year if they think Republicans are obstructing appointments unfairly. Republicans said they got President Obama to withdraw two controversial nominees to the National Labor Relations Board,...
  • Senate confirms Cordray as consumer bureau chief( Freeps drop Traytable this is important)

    07/16/2013 9:20:35 PM PDT · by hatfieldmccoy · 22 replies
    Reuters ^ | Tue Jul 16, 2013 | Emily Stephenson
    The Senate on Tuesday confirmed a director of the Consumer Financial Protection Bureau, ending a nearly two-year standoff in Congress and putting the new agency on sounder legal footing. Democrats overcame long-held Republican objections to approve Richard Cordray's nomination to head the bureau, which was created by the 2010 Dodd-Frank Wall Street reform law. Bureau advocates and consumer law experts said Senate confirmation clears up a number of questions, including Cordray's legal status as the temporary bureau director and the agency's authority to oversee certain financial sectors such as debt collection.
  • The FC In Ohio: Akron And Columbus Among Leaders In Home Foreclosures

    05/20/2013 9:50:40 AM PDT · by whitedog57 · 5 replies
    Confounded Interest ^ | 05/20/2013 | Anthony B. Sanders
    According to RealtyTrac, Akron Ohio is the leader in housing units per foreclosure filings. And Columbus Ohio is 6th on the list. The FC in Ohio? Rounding out the top 20 foreclosure metro areas are Toledo, Cleveland, Cincinnati, and Canton. You know, pretty much the entire state. Huh. I would have thought that Richard Cordray, the current Robo-cop at the Consumer Financial Protection Bureau (CFPB) and former attorney general of Ohio, would have cleaned up the foreclosure mess before heading up the CFPB. Here is a chart of underwater mortgages in Ohio. Ohio is at 32.48% underwater. The striking thing...
  • Warren Fights For CFPB Again – Barack Obama’s Tax and Spend Club Band

    02/15/2013 10:44:59 AM PST · by whitedog57 · 1 replies
    Confounded Interest ^ | 02/15/2013 | Anthony B. Sanders
    Senator Elizabeth Warren (D-MA) is fighting to protect her “brainchild”, the Consumer Financial Protection Bureau (CFPB). She also wants to support the nominated of Richard Cordray, the former Attorney General of Ohio, better known as “Robocop” for his attacks on banks and servicers over robosigning. True, robosigning foreclosures is sloppy, but there were apparently no economic harm to borrowers (that is, 100% of borrowers defaulted on their loans and the banks/servicers were trying to claim the house to mitigate losses). Yet the Attorneys’ General settlement went ahead despite no economic harm to borrowers. The settlement provides as much as $25...
  • Senate Republicans renew blockade of Obama's (unconstitutional) Consumer Bureau pick

    02/02/2013 6:56:16 AM PST · by Libloather · 2 replies
    The Hill ^ | 2/01/13 | Peter Schroeder
    Senate Republicans are renewing their vow to block any nominee to head the Consumer Financial Protection Bureau (CFPB) unless major changes are made to its structure. In a letter sent to President Obama on Friday, 43 Republican senators committed to refusing approval of any nominee to head the consumer watchdog until the bureau underwent significant reform. Lawmakers signing on to the letter included Senate Minority Leader Mitch McConnell (R-Ky.) and Sen. Mike Crapo (R-Idaho), the ranking member of the Senate Banking Committee. "The CFPB as created by the deeply flawed Dodd-Frank Act is one of the least accountable in Washington,"...
  • Court: Obama Appointments to Labor Panel Are Unconstitutional

    01/25/2013 9:36:52 AM PST · by lbryce · 25 replies
    Fox news ^ | January 25, 203 | Staff
    President Obama violated the Constitution when he bypassed the Senate to fill vacancies on a labor relations panel, a federal appeals court panel ruled Friday. A three-judge panel of the U.S. Court of Appeals for the D.C. Circuit said that Obama did not have the power to make three recess appointments last year to the National Labor Relations Board. The unanimous decision is an embarrassing setback for the president, who made the appointments after Senate Republicans spent months blocking his choices for an agency they contended was biased in favor of unions. The ruling also throws into question Obama's recess...
  • CFPB Reduces Consumer Choice by Banning Mortgage Features (“Thou Shall Not ..”)

    01/10/2013 2:48:30 PM PST · by whitedog57 · 8 replies
    Confounded Interest ^ | 01/10/2013 | Anthony B. Sanders
    The Consumer Financial Protection Bureau (CFPB), built by Senator Elizabeth Warren (D-MA) and run by “Robo Cop” Richard Cordray (the former Attorney General of Ohio), has issued its new list of mortgage feature bans for the “qualified mortgage.” Kerri Ann Panchuk from Housing Wire has a nice summary in her article. 201301_cfpb_ability-to-repay-factsheet Here are the features of Qualified Mortgages and what is banned: • No excess upfront points and fees • No toxic loan features o No interest-only loans, o No loans where the principal amount increases, such as a negative-amortization loan; and o No loans where the term is...
  • Govt to supervise credit reporting for first time

    07/16/2012 1:31:25 PM PDT · by BAW · 31 replies
    AP ^ | July 16, 2012
    The companies that determine Americans' credit scores are about to come under government oversight for the first time. The Consumer Financial Protection Bureau said Monday that it will start supervising the 30 largest firms that make up 94 percent of the industry. That includes the three big credit reporting firms: Equifax Inc., Experian and TransUnion. In remarks prepared for a speech Monday, Richard Cordray, the government agency's director, said that scorekeeping by credit bureaus plays such a large role in Americans' financial lives, it requires scrutiny.
  • Consumer Protection Financial Bureau Director Richard Cordray Doubted Constitutionality of His...

    04/18/2012 4:30:42 PM PDT · by jazusamo · 5 replies
    Judicial Watch ^ | April 18, 2012
    Complete title: Consumer Protection Financial Bureau Director Richard Cordray Doubted Constitutionality of His Own Appointment, Documents Uncovered by Judicial Watch Show “There is a chance…that the appointment would be invalidated by a court.” Cordray Told Staff His Short Stint “should give to each one of us…a fierce urgency to accomplish the work we are doing together.” (Washington, DC) –Judicial Watch, the organization that investigates and fights government corruption, announced today that it has obtained documents from the Consumer Financial Protection Bureau (CFPB) that indicate the agency’s director, Richard Cordray, doubted the constitutionality of his own appointment. On January 4, 2012,...
  • Johanns to Cordray: ‘I Can’t Imagine How Anyone Can Maintain Your Service Is Valid’

    01/31/2012 7:40:05 PM PST · by Nachum · 9 replies
    cns news ^ | 1/31/12 | Pete Winn
    (CNSNews.com) - Richard Cordray did not face a threatened boycott by Republican senators during his appearance Tuesday before the Senate Banking, Housing and Urban Affairs Committee, but Sen. Mike Johanns (R-Neb.) told Cordray that President Obama had unconstitutionally appointed him as director of the Consumer Finance Protection Bureau. Johanns said he did not intend to “revisit” and “stir up” the controversy surrounding Cordray’s possibly unconstitutional recess appointment, “because I think that’s going to happen. I think there’s going to be litigation that will make that happen.” But Johanns politely but firmly told Cordray he did not accept the validity of...
  • Obama Creates Unconstitutional Monster

    01/26/2012 3:28:00 PM PST · by NYer · 10 replies
    Crisis Magazine ^ | January 26, 2012 | Terence Jeffrey
    Did President Barack Obama’s appointment of Richard Cordray to be director of the Consumer Financial Protection Bureau without a Senate confirmation vote violate the Constitution? The answer is plainly yes.Article 2, Section 2 of the Constitution says the president “shall nominate, and by and with the Advice and Consent of the Senate, shall appoint … Officers of the United States … but the Congress may by Law vest the Appointment of such inferior Officers, as they think proper, in the President alone (and) … The President shall have Power to fill up all Vacancies that may happen during the Recess...
  • (Sen. Roger) Wicker (R-Miss.) to boycott Cordray hearing to protest Obama 'recess' appointments

    01/26/2012 5:22:16 PM PST · by Libloather · 7 replies
    The Hill ^ | 1/26/12 | Pete Kasperowicz
    Wicker to boycott Cordray hearing to protest Obama 'recess' appointmentsBy Pete Kasperowicz - 01/26/12 03:45 PM ET Sen. Roger Wicker (R-Miss.) on Thursday afternoon said he would boycott a planned hearing next week in which Consumer Financial Protection Bureau (CFPB) Director Richard Cordray will testify, as a way of protesting Cordray's recess appointment to that post when the Senate was not in recess. "Let me be explicitly clear," Wicker said on the Senate floor. "Richard Cordray is not the duly constituted director of the CFPB. His purported recess appointment does not comply with the Constitution, and is in fact a...
  • If You Call C-Span Washington Journal . . . (Vanity)

    01/24/2012 6:24:14 AM PST · by Jacquerie · 5 replies
    January 24th 2012
    I called my rep on C-Span this morning, Steve Southerland (FL-2) My question was, "Did President Obama violate the Constitution when he appointed Richard Cordray to head the CFPB without consent of the Senate?" He said Obama crossed the line, yet it was okay because the Senate was in recess. My line went dead. So no, I was not allowed to tell him the Senate was not in recess and therefore any regulations from the CFPB were null and void. I listen to Leftist moonbats get 2-3 minutes to beat up pubbies over social justice, the mean corporations, the one...
  • Obama's recess appointments might not hold up in court

    01/18/2012 2:41:56 PM PST · by Qbert · 19 replies
    The Hill ^ | 01/18/12 | Alexander Bolton
    Some legal experts, including those who have sided with President Obama on other constitutional issues, think there is a good chance the courts could overturn his recent recess appointments. Legal experts said courts could invalidate Obama’s appointments to the Consumer Financial Protection Bureau (CFPB) and National Labor Relations Board (NLRB) because there is scant precedent on the issue.  “It’s untested ground. If I were a judge, I could write out an opinion either way. There’s no clear precedent,” said Charles Fried, a constitutional expert at Harvard Law School who served as solicitor general under former President Reagan. The Justice Department...
  • First court challenge filed against Obama's recess appointments

    01/13/2012 2:42:42 PM PST · by jazusamo · 28 replies
    The Hill ^ | January 13, 2012 | Kevin Bogardus
    The National Right to Work Foundation filed a motion Friday that challenges the legality of President Obama’s recess appointments to the National Labor Relations Board (NLRB). The motion, filed in the U.S. District Court for the District of Columbia, is a joint action with the Coalition for a Democratic Workplace and the National Federation of Independent Business (NFIB). It is the first legal action that questions the president’s recent recess appointments, which he made earlier this month over the fierce objections of Republican lawmakers. The president recess-appointed Richard Cordray as director of the Consumer Financial Protection Bureau, along with three...
  • Grassley Not Buying DOJ’s Non-Recess Appointment Apologia (Obama acted before DOJ drafted memo)

    01/12/2012 3:27:50 PM PST · by Qbert · 22 replies
    Heritage ^ | January 12, 2012 | Lachlan Markay
    Calling the president’s illegal non-recess appointments “an escalation in a pattern of contempt for the elected representatives of the American people,” Sen. Chuck Grassley (R-IA), ranking Republican on the Judiciary Committee, dismissed a Justice Department memo on Thursday that sought to lend retroactive constitutional weight to the president’s move. Grassley hinted at Senate “action to check and balance” the president’s power grab, though he declined to go into specifics. The DOJ Office of Legal Counsel’s memo, also debunked by Heritage’s Todd Gaziano, claims that pro forma Senate sessions do not preclude the president from unilaterally appointing federal officials. That legal...
  • Kagan in 2010: Pro-forma Senate sessions enough to block recess appointments

    01/12/2012 1:01:07 PM PST · by Nachum · 16 replies
    Hot Air ^ | 1/12/12 | Ed Morrissey
    Republicans outraged over the recess appointments of Richard Cordray and three NLRB commissioners argue that the pro forma Senate sessions every three days means that the Senate has not recessed at all. The Congressional Research Service notes that no President in the 20 years prior to Barack Obama’s actions in the past two weeks has attempted a recess appointment unless Congress has been out of session more than nine days. Today, to no one’s great shock, Obama’s own Department of Justice says that these arguments aren’t good enough to stop the President from the exercise of his constitutional power: President...
  • Justice memo argues Obama recess appointments were legal

    01/12/2012 10:11:53 AM PST · by Sopater · 26 replies
    The Hill ^ | 01/12/12 12:32 PM ET | Alexander Bolton
    The Department of Justice offered a defense on Thursday for President Obama’s controversial decision to make several recess appointments while Congress was in pro forma sessions. In a memo, Justice argued the pro-forma sessions held every third day in the Senate do not constitute a functioning body that can render advice and consent on the president’s nominees. It said the president acted consistently under the law by making the appointments.
  • GOP: Could Obama make a recess appointment overnight or on weekend? (strongly worded letter to DOJ)

    01/09/2012 6:05:42 AM PST · by Libloather · 33 replies
    The Hill ^ | 1/06/12 | Pete Kasperowicz
    GOP: Could Obama make a recess appointment overnight or on weekend?By Pete Kasperowicz - 01/06/12 03:01 PM ET Sen. Chuck Grassley (R-Iowa) is asking the Obama administration whether recess appointments overnight and on the weekend are possible after the president's decision this week to appoint four federal officials despite pro forma sessions by Congress. In a letter to Attorney General Eric Holder, Grassley and seven other Republican senators on Friday pressed the Obama administration for more details about its decision to make the controversial recess appointments. Grassley's letter said the White House broke with 90 years of precedent on Wednesday...
  • President Declares Independence from Congress

    01/07/2012 2:48:24 PM PST · by John Semmens · 15 replies
    Semi-News/Semi-Satire ^ | 7 Jan 2012 | John Semmens
    Frustrated by his inability to get portions of his agenda passed by Congress, President Barack Obama has forged ahead making appointments and enacting programs without the Constitutionally required consent of the legislature. The appointment of Richard Cordray to head the Consumer Financial Protection Bureau attracted the most attention. The appointment of Richard Griffin, Sharon Block and Terence Flynn to be on the National Labor Relations Board (NLRB) garnered less attention, but appears equally unconstitutional. The President also initiated a summer youths jobs program that Congress previously rejected. Senate Minority Leader Mitch McConnell (R-Ky) criticized the appointments and single-handed enactment of...
  • Obama, the constitutional anarchist

    President Obama’s recess appointment of three members of the National Labor Relations Board and Richard Cordray to the Consumer Financial Protection Bureau continues to reverberate. The most compelling legal analysis on the subject is offered by conservative legal figures, most aptly today by Todd Gaziano of the Heritage Foundation and former attorney general Ed Meese: Article I, Section 5, of the Constitution states that neither house of Congress may adjourn for more than three days without the consent of the other house. The House of Representatives did not consent to a Senate recess of more than three days at the...
  • Obama's recess appointment challenge

    01/07/2012 7:52:32 AM PST · by Oldeconomybuyer · 23 replies
    Los Angeles Times ^ | January 6, 2012 | Editorial
    The appointment of former Ohio Atty. Gen. Richard Cordray did, in fact, push the edge of the constitutional envelope. But it was a rational response to an increasingly gridlocked Congress and a growing willingness among lawmakers to employ procedural tools to stop the executive branch from functioning. The legal questions raised by Cordray's appointment could ultimately upend any rules the new bureau may adopt for payday lenders and others outside the banking system. So while Obama's tactic plays well with Democrats, it may not help the people the bureau was designed to protect. Nevertheless, Republicans can't complain about Obama resorting...
  • Wall Street money for Warren [DRUDGE headline: Occupy 'founder' collects millions from Wall St.]

    01/06/2012 3:34:47 PM PST · by thouworm · 7 replies
    Boston Herald via Drudge ^ | 1-6-12 | unknown
    If Lizzy [Elizabeth] Warden is truly opposed to Wall Street money, then shouldn’t she reject the DSCC’s money? Otherwise she is just using the DSCC to funnel in Wall Street money.
  • Does Obama's appointment of Rich. Cordray sync with Romans 13:1

    01/06/2012 2:48:24 PM PST · by 1raider1 · 14 replies
    today | me
    Romans 13:1 "Let every soul be subject unto the higher powers, For there is not power but of God: the powers that be are ordained of God. Whosoever therefore resisteth the power, resisteth the ordinance of God."
  • Obama Takes Victory Lap

    01/06/2012 12:04:05 PM PST · by Iron Munro · 58 replies
    The Hill ^ | Jan. 6, 2011 | Amie Parnes
    Two days after defying Republicans and appointing Richard Cordray to head the Consumer Financial Protection Bureau, President Obama visited the new agency to take a little time to gloat. Making a victory lap of sorts at the independent agency, Obama cracked a joke, telling employees that he came by to help their new director move in. More seriously, a seemingly content Obama called the man he tapped a “great director who is tailor-made to lead this agency.” With Cordray at the helm, after months of delay, the agency will help Americans better digest mortgages, student loans and credit card fees...
  • Obama violated Senate norms to appoint this guy? New CFPB chief accused of misusing state funds

    01/06/2012 10:59:31 AM PST · by tutstar · 29 replies
    Klein Online ^ | January 5, 2012 | Aaron Klein
    Actual title is : Obama violated Senate norms to appoint this guy? New financial protection chief accused of misusing state funds (FR needs more space for title- I always have to alter Aaron's titles to post them) Sparking Republican charges he violated Senate norms, President Obama today used his recess appointment powers to name a head for the controversial Consumer Financial Protection Bureau. KleinOnline first reported last month that consumer groups had been calling on Obama to seize rarely-used powers in to make a recess appointee for Richard Cordray, the nominee for what the government bills as a new consumer...
  • An Imperial Sham

    01/06/2012 4:14:29 AM PST · by Kaslin · 14 replies
    Townhall.com ^ | January 6, 2012 | Jonah Goldberg
    Senate Majority Leader Harry Reid, a man whose political success is largely attributable to the aura of befuddled incompetence he uses to disarm his adversaries, was a failed Watergate baby. In 1974, a slew of often sanctimonious and very liberal Democratic politicians rode the tide of understandable national disgust with Richard Nixon to Congress. Then the lieutenant governor of Nevada, Reid ran for the U.S. Senate, hoping to tie his opponent to the "imperial presidency" that had allegedly sprung up ex nihilo under Nixon. Given Nevada's inherent conservatism (at least back then), Reid cast himself as an incorruptible champion of...
  • Richard Cordray, past misconduct - Watchdog needed to monitor Obama, Cordray etc.

    01/06/2012 8:54:36 AM PST · by Frankusa · 4 replies
    President Obama bypassed the normal Senate confirmation process on Wednesday and appointed Richard Cordray as director of the new Consumer Financial Protection Bureau. [More on Mr. Cordray and his past misconduct later on this post.] [snip] During a press briefing on Thursday, the President said the consumer protection agency would also monitor the banks to ensure that they are not issuing mortgages to borrowers who can't afford to make the monthly payments. Ironically, it was Obama and his fellow Democrats [and ACORN] who forced the banks to make loans to high-risk borrowers - who then defaulted on their loans. This,...
  • Obama's reckless recess ploy

    01/06/2012 7:05:27 AM PST · by american_steve · 10 replies
    The Wall Street Journal ^ | 01/06/2012 | David B. Rivkin, Jr. and Lee A. Casey
    Mr. Obama is claiming an open-ended authority to determine that the Senate is in recess, despite that body's own judgment and the factual realities. That is an astonishing and, so far as we can tell, unprecedented power grab. It is not up to the president to decide whether the Senate is organized properly or working hard enough. However much the supposedly power-hungry President George W. Bush may have resented the Senate's practice of staying "in session" to defeat his recess-appointment power, he nevertheless respected the Senate's judgment on the point. The president has done his new appointees and the public...
  • Obama’s recess appointments are unconstitutional (Impeach the Communist Slimeball)

    01/05/2012 8:03:23 PM PST · by tobyhill · 45 replies
    WASHINGTON POST ^ | 1/5/2012 | Edwin Meese III and Todd Gaziano
    President Obama’s attempt to unilaterally appoint three people to seats on the National Labor Relations Board and Richard Cordray to head the new Consumer Financial Protection Bureau (after the Senate blocked action on his nomination) is more than an unconstitutional attempt to circumvent the Senate’s advise-and-consent role. It is a breathtaking violation of the separation of powers and the duty of comity that the executive owes to Congress. Yes, some prior recess appointments have been politically unpopular, and a few have even raised legal questions. But never before has a president purported to make a “recess” appointment when the Senate...
  • Even Obama Agrees that the Senate Was Not in Recess

    01/05/2012 6:41:02 PM PST · by Qbert · 28 replies
    Heritage ^ | January 5, 2012 | Andrew Grossman
    Defenders of President Obama’s unprecedented “recess” appointments of Richard Cordray to the new Consumer Financial Protection Bureau and three members to the National Labor Relations Board argue that the Constitution is vague on when Congress is in session and that the President can therefore take a “functionalist” approach that considers whether the Senate is available to vote on nominations. Yet even the President doesn’t buy that argument. Proof is that on December 23, President Obama signed a two-month extension of the payroll tax cut.  He said that Congress passed the bill “in the nick of time” and that it was...
  • Obama's Recess Appointments: An Impeachable Offense?

    01/05/2012 5:46:33 PM PST · by Kaslin · 59 replies
    IBD Editorials ^ | January 5, 2012 | Editor
    Constitution: President Obama's nonrecess "recess appointments" can't be excused as over-the-top electioneering. This president has crossed over from socialistic extremism into lawlessness and, perhaps, impeachability. The U.S. Constitution established a strong presidency — so strong that even one of the most esteemed founding fathers, Patrick Henry, worried it would be kinglike. But this week saw a president exceed even those broad constitutional powers because doing so fits his election-year narrative of a "do-nothing Congress" so well. Now we have the makings of a banana republic, where the rule of clearly written constitutional law is compromised by a ruler's subjective whim....
  • New Consumer Financial Protection chief thinks the Commerce Clause trumps Constitution on obamacare

    01/05/2012 4:56:12 PM PST · by John S Mosby · 14 replies
    Real Clear Politics ^ | April 4, 2010 | Ohio News Network
    President Obama's appointee to the Consumer protection bureau Richard Cordray is a staunch supporter of Obamacare. He has said the lawsuits against the legislation were "frivolous" because of the commerce clause.
  • (Communist Controlled) White House mum over possible appointment legal advice

    01/05/2012 5:37:11 PM PST · by tobyhill · 13 replies
    reuters ^ | 1/5/2012 | Jeremy Pelofsky and David Ingram
    The White House on Thursday refused to say whether lawyers at the U.S. Justice Department gave the green light to President Barack Obama's controversial appointments to two agencies but experts said the department almost certainly did provide advice. The department's Office of Legal Counsel advises the president and government agencies. In the past, it has issued guidance about the constitutionality of so-called recess appointments that are done when the Senate is away. That counsel is seen as critical to providing justification for decisions and actions by a president. It has been key on other major issues, such as the use...
  • The White House Is Wrong – The Senate Conducted Business During Its ‘Recess’

    01/05/2012 4:54:51 PM PST · by jazusamo · 28 replies · 1+ views
    PJ Tatler ^ | January 5, 2012 | Hans von Spakovsky
    In the uproar over President Obama’s unconstitutional “recess” appointments (Richard Cordray to head the Consumer Financial Protection Bureau and three new members of the National Labor Relations Board), one fact has gotten too little attention . Attempting to justify the president’s violation of the Constitution and 90 years of legal precedent, presidential spokesman Dan Pfeiffer claimed that the president can exercise recess appointment powers because the Senate’s pro forma sessions—conducted since mid-December—are merely “a gimmick” during which “no Senate business is conducted and instead one of two Senators simply gavel in and out of session in a matter of...
  • Is (Communist Dictator) Obama's appointment of Cordray illegal? (YES!!!)

    01/05/2012 1:35:44 PM PST · by tobyhill · 18 replies
    cbs ^ | 1/5/2012 | By Constantine von Hoffman
    Yesterday President Obama named Richard Cordray director of the Consumer Financial Protection Bureau (CPFB) with what is called a "recess appointment" -- one made while Congress is in recess. He did this because Republican senators had blocked confirmation of Cordray, also a Republican and former attorney general of Ohio. They do not object to Cordray but to how the CPFB is organized. Its financing, for example, comes from the Federal Reserve, which means Congress can't exert pressure on the agency by controlling its budget. While this type of recess appointment is a common action for presidents, this one is fuelling...
  • Carney Defends Cordray Recess Appointment: "Constitution Trumps Gimmicks" (video)

    01/05/2012 11:30:15 AM PST · by i88schwartz · 16 replies · 1+ views
    RealClearPolitics ^ | January 5, 2012 | RealClearPolitics
    White House press secretary Jay Carney says Senate Republicans "gaveling in and gaveling out for seven seconds does not constitute a recess." Therefore, Carney argues, President Obama operated in a legal manner when he appointed Richard Cordray to head the consumer protection board. "Our assessment is that Congress has been in recess, and had made every indication that it will be in recess for a sustained period of time. And that gaveling in and gaveling out for seven seconds does not constitute a recess with regard to the President's constitutional authority," Carney said at Thursday's briefing. "Let's take the other,...
  • CFPB begins oversight of payday lenders (Cordray starts work today- attacks private student lenders)

    01/05/2012 10:25:30 AM PST · by Qbert · 25 replies
    Marketwatch ^ | Jan. 5, 2012 | Ronald D. Orol
    WASHINGTON (MarketWatch) — One day after being appointed through a controversial presidential maneuver, the new head of a consumer watchdog agency announced he is launching a program immediately to supervise a broad new swath of businesses including payday lenders, private student lenders and local mortgage lenders. “We will begin dealing face-to-face with payday lenders, mortgage servicers, mortgage originators, private student lenders, and other firms that often compete with banks but have largely escaped any meaningful federal oversight,” said Richard Cordray, the newly appointed chief of the Consumer Financial Protection Bureau. [Snip] Any legal challenge to the Obama appointment is likely...
  • What is a recess? Constitution doesn't specify (cover for the Kenyan)

    01/05/2012 9:22:22 AM PST · by Libloather · 17 replies
    WMCTV ^ | 1/05/11 | ALAN FRAM
    What is a recess? Constitution doesn't specifyBy ALAN FRAM Associated Press Updated: Jan 05, 2012 10:32 AM EST (AP) - The Constitution lets presidents make temporary appointments while the Senate is in recess but does not specify what a recess is or how long one must last before that power can be exercised. That ambiguity, courtesy of the founding fathers, is helping fuel a battle between President Barack Obama and congressional Republicans over whether he had legally installed Richard Cordray on Wednesday to head the new Consumer Financial Protection Bureau, along with three others he named to the National Labor...
  • Cordray-Any Legislation Which Has Even Incidental Effects on Economy is a Valid Exercise...

    01/05/2012 9:22:22 AM PST · by tcrlaf · 16 replies
    MRCTV ^ | 1-4-12 | Stephen Gutowski
    President Obama announced today that he was going to take a new step in the expansion of executive authority by recess appointing a head to the new Consumer Financial Protection Bureau despite the fact that the Senate isn't actually in recess. This has, of course, spawned an angry backlash. However, the man that the President is appointing is relatively unknown. His name is Richard Cordray and he has some interesting views on the limits of congressional power. Before losing his bid for reelection as Ohio's Attorney General Cordray appeared on a program called Capitol Square. He was asked about his...