Republicans pledge to block Obama consumer finance pick

Reuters ^ | Fri Feb 1, 2013 5:02pm EST | Emily Stephenson

[Olog-hai]

Senate Republicans on Friday pledged to block President Barack Obama’s choice to lead the consumer finance watchdog until Democrats agree to restructure it, ramping up an expected fight this year over the controversial new bureau.

The group of 43 Republicans, led by minority leader Mitch McConnell of Kentucky and Mike Crapo, an Idaho senator who is the top Republican on the banking committee, said the Consumer Financial Protection Bureau lacks congressional oversight.

Last week, Obama re-nominated Richard Cordray to lead the bureau. Cordray received a temporary appointment as director last year, but his position expires at the end of 2013.

"As presently organized, the CFPB is insulated from congressional oversight of its actions and its budget,” the Republicans said. “Far too much power is vested in the sole CFPB director without any meaningful checks and balances.” …

[Olog-hai]

. . . and so saith the same GOP-e types that overwhelmingly confirmed John Kerry as Secretary of State. Don’t know whether to or

[Arm_Bears]

The lifespan of any Republican pledge is 30-days short of the lifespan of a fruit fly.

[huckfillary]

This will really fire up the base.

[what's up]

The GOP wasn't going to win the Kerry fight.

They did well to keep Rice out who is even further to the left than Kerry.

Yes, Kerry is putrid but firing up the Boston, Code Pink, etc. machine for Kerry would keep the onus on that fight for months instead of Obama and the economy. Let's keep the heat on Obama.