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Sexist Obama insults women again; Classic Sexism - woman does the work but promotion goes to a man and they all lie about what has actually happened --Yet the Republicans actually manage to be worse insulting ALL American consumers with blatant attempt to protect corporate abusers - Play BALL (S)
Obama To Tap Cordray To Head Consumer Protection Bureau
POSTED: 12:16 pm EDT July 17, 2011
UPDATED: 3:19 pm EDT July 17, 2011
UPDATED: 3:19 pm EDT July 17, 2011
The announcement means Obama has passed over Elizabeth Warren. the firebrand law professor who envisioned the bureau.
If confirmed, Cordray's pick sets up formal leadership for the bureau created under the Wall Street reform bill passed last year. However, many Senate Republicans have vowed to block any nominee to head the bureau, which they argue lacks transparency and accountability.
Warren was staunchly opposed by many business interests as well as members of Congress, and in an approaching election year, it was never clear if Obama would have chosen her for the post.
As an assistant to the president, Warren is currently setting up the bureau until a permanent director is confirmed. She issued a statement supporting the nomination of Cordray, the former Ohio Attorney General who currently serves as the Chief Enforcement Officer for the bureau.
The bureau is intended to make basic financial practices such as taking out a mortgage or loan more clear and transparent while ferreting out unfair lending practices.If confirmed, Cordray's pick sets up formal leadership for the bureau created under the Wall Street reform bill passed last year. However, many Senate Republicans have vowed to block any nominee to head the bureau, which they argue lacks transparency and accountability.
Warren was staunchly opposed by many business interests as well as members of Congress, and in an approaching election year, it was never clear if Obama would have chosen her for the post.
As an assistant to the president, Warren is currently setting up the bureau until a permanent director is confirmed. She issued a statement supporting the nomination of Cordray, the former Ohio Attorney General who currently serves as the Chief Enforcement Officer for the bureau.
A May 5 letter to Obama, 44 Republican senators said they would block any nominee to head the bureau unless changes were made to how it operates.
The letter called for having a managing board for the bureau, rather than a single director; having the bureau get its funding through the congressional appropriations process; and setting up a mechanism to oversee regulations set for financial institutions.
Warren was such an outspoken critic of the nation's big banks that she became a darling of the progressive left. However, she also drew the ire of the financial community and congressional Republicans, who vowed to block any effort make her the bureau's leader.
Progressive activists have continued to lobby the White House to keep Warren on as the bureau head.
"With her track record of standing up to Wall Street and fighting for consumers, Elizabeth Warren was the best qualified to lead this bureau that she conceived -- and we imagine Richard Cordray would agree," said a statement by Stephanie Taylor, co-founder of the Progressive Change Campaign Committee. "That said, Rich Cordray has been a strong ally of Elizabeth Warren's and we hope he will continue her legacy of holding Wall Street accountable."
In his statement to the Columbus Dispatch, Obama thanked Warren "for her work standing up the new agency."
Read more: http://www.wptz.com/politics/28577058/detail.html#ixzz1SOSLkZzq
Go to Main Justice to read Elizabeth Warren's charge that the probes into Obama HAMP program and mortgage fraud ARE INSUFFICIENT. That probably caused Obama to pick a safer more compliant Director.
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posted by Greenconsciousness
at 2:50 PM - Link
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