Senate blocks consumer bureau chief
December 8th, 2011
11:18 AM ET
3 years ago

Senate blocks consumer bureau chief

Washington (CNNMoney) - The Senate on Thursday failed to muster the 60 votes needed to confirm President Obama's pick to run the Consumer Financial Protection Bureau, which has become the symbol of the administration's efforts to rein in Wall Street excess.

The Senate voted 53-45, along partisan lines, falling 7 short of the votes needed to take up the confirmation of former Ohio Attorney General Richard Cordray to be the first director of the bureau. Senate Republicans, except Sen. Scott Brown of Massachusetts, voted against the procedural measure; Olympia Snowe of Maine voted present.

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Filed under: President Obama • Senate
soundoff (33 Responses)
  1. vic , nashville ,tn

    This is another Example How Middle class losing their voices

    December 8, 2011 11:30 am at 11:30 am |
  2. Sniffit

    GOP: Breaking gov't just to prove they can.

    They're doing the same thing by refusing to confirm the man Obama used a recess appointment to head the agency in charge of implementing the ACA. By all reports, other than the complete blackout of reporting on it by the major networks, the guy is one of if not THE top expert on what is wrong with the health care industry, how it needs to change to bring prices and costs down and was already, for the year of his recess appointment, doing some amazing things to get costs down (see: major network blackout on Medicare reporting Tuesday that it has saved $1.5B on perscription drugs because of the donut hole closure in the ACA). See, the GOP's worst nightmare is that the ACA or this consumer bureau go forward, get implemented and succeed...like the ACA is already doing. They want everyone to think they are broken, don't work, are making things worse...so, if need be, they'll break them themselves, just to prove the point.

    December 8, 2011 11:36 am at 11:36 am |
  3. Rudy NYC

    Big business and corporations have highly paid lobbyists to advance their agenda in DC politics. The middle class citizen cannot afford lobbyists. The only representation of this type that the average middle class taxpayer can have are the regulatory laws and the enforcement agencies. This agency cannot legally function without a Director, lack of which puts the entrie agency in check, held in limbo. Republicans know exactly what they are doing. Do you?

    December 8, 2011 11:38 am at 11:38 am |
  4. American

    Senate Republicans once again side with Wall Street greed against American consumers.
    Shameful.

    December 8, 2011 11:39 am at 11:39 am |
  5. Donkey Party

    More GOP obstructionism. When civil war breaks out because of the right-wing's insistence on screwing the middle-class, it'll be interesting to see how much protection their corporate masters will give them. The behavior of the GOP borders on treason, and they need to be held accountable for their anti-American domestic terrorism. The GOP is infinitely worse than Al Queda or the Taliban, and anyone who supports the GOP is guilty of giving aid and comfort to an enemy.

    December 8, 2011 11:43 am at 11:43 am |
  6. Sniffit

    "Both Mitt and Newt were helping to create jobs back when Obama was still flying around on an Indonesian passport! Go Mitt!"

    Name us one job Mittens created other than for employees of the local unemployment office who field unemployment claims. His years aat Bain saw THOUSANDS of people lose their jobs when Bain bought up their comapnies and used bankruptcy to close them down for a profit. His years as governor of MA saw MA ranked 47th in the nation for job creation. So again, please give us the evidence that you apparently are hiding that shows Mittens has a net positive job creation record for anyone but people who field unemployment claims.

    December 8, 2011 11:44 am at 11:44 am |
  7. DAK

    This is just sad and wrong. From what I've heard, the Republicans don't have an objection to the person picked, they have an objection to the actual agency. Vote all these do-nothing GOP thugs out of office as soon as possible! Not a single Republican will get my vote until they (the GOP) stops representing the 1% and start working for the people, the 99%.

    December 8, 2011 11:45 am at 11:45 am |
  8. Voice of Reason

    So they refuse to confirm an admittedly qualified nominee, for purely partisian reasons... Nothing new here – the GOP is the party of NO.

    I havent seen the Democrats in the house (where they are the minority party) playing these kinds of games. I wish these GOP senators would stop putting party ahead of the people.

    December 8, 2011 11:49 am at 11:49 am |
  9. Dominican mama 4 Obama

    Without a chief, it also can't regulate mortgage originators and servicers, which played a big role in the financial crisis for providing subprime mortgages to families who couldn't afford them in the years leading up to the financial crisis
    ------------------------
    As if we needed to increase the ever-growing arsenal of irrefutable proof of whose side the GOP is on (and it ain't ours), and who they will go to hell and back protecting even at the risk of deregulation bringing us into another full blown recession.

    December 8, 2011 12:02 pm at 12:02 pm |
  10. jk from MN

    It should be VERY obvious whom the Senate Republicans are working for – it's certainly NOT main Street and the voters who actually keep returning them to Congress. Slimy, slimy, slimy.

    December 8, 2011 12:03 pm at 12:03 pm |
  11. LJW

    Here we go again. I'm so sick of Republicans blocking everything. They are why we are in this mess and they are why we can't get out of this mess. Anything that protects or helps middleclass Americans, they block.
    Middleclass Americans, don't be fooled. If Republicans win they White House, they will quickly inform you that you middleclass American do not belong on the small life raft we've created to escape this sinking ship. Just like in Titantic, all those who thought they were somebody (supporters of the Republican agenda) will be left on board the sinking ship or worse locked behind the gates with everybody else.

    December 8, 2011 12:03 pm at 12:03 pm |
  12. GROVER NORQUIST IS A ENEMY OF THE STATE

    Once again the fascists republican regime is protecting their rich banker buddies from being regulated. The obstruction must stop and will stop. We need a regulator looking out for the consumer and not a regulator working lock key in step with the banks. Stop with the shenanigans!!!

    December 8, 2011 12:05 pm at 12:05 pm |
  13. dan in Alquerque

    This action is not because the GOP doesn't like the man, It is becaue they don't want any regulation on banks. Right now, some lending institutions are charging almost 300% to veterans for loans because the law doesn't allow enforcement of certain rules unless there is a head named for the department. That gets us right back to the unregulated mess that caused the economic disaster Obama inherited. More rich vs. poor. They are also filibustering against an Appeals judge appointment because she's not right wing.

    December 8, 2011 12:06 pm at 12:06 pm |
  14. Four and The Door

    Obama's job-killing policies take another hit. This time from the Democratic Senate!

    December 8, 2011 12:09 pm at 12:09 pm |
  15. Mikey

    Let's see if the pretend to be in session over the holidays so there can be no recess appointments. This kind of sneaky politics, done by both sides but much more by the GOP, must be reined in. The same with the phenominal overuse of the filibuster. It is used more per year now that during the entire first century of our country. You can filibuster without talking, so one Senator can block almost anything for at least a while.

    December 8, 2011 12:10 pm at 12:10 pm |
  16. GI Joe

    Vote the obstructionists out in 2012.

    December 8, 2011 12:14 pm at 12:14 pm |
  17. GROVER NORQUIST IS A ENEMY OF THE STATE

    La La La La La La. You republicans don't want to confirm Mr. Cordray? Fine! Then I guess you really won't like it when OWS protesters stop being polite & cordial and begin running inside the big banks, drag some executives out into the street and whoop their tails. Keep protecting the top 1% and see where that gets you.

    December 8, 2011 12:22 pm at 12:22 pm |
  18. Rudy NYC

    Four and The Door wrote:

    Obama's job-killing policies take another hit. This time from the Democratic Senate!
    -------------
    Would you care to enlighten us as to how financial regulations are kill jobs? I must give you a slap on the wrist for trying to blame the Republican filibuster on the Democratic majority. Nice try, because it will fool most Obama haters.

    December 8, 2011 12:22 pm at 12:22 pm |
  19. Sniffit

    "Obama's job-killing policies take another hit. This time from the Democratic Senate!"

    Do you just look at the headlines and then fabricate the story in your head all by yourself so that the resulting story satisfies your confirmation bias in some manner? The vote was entirely partisan. Your blather about it being a hit from the 'democratic senate" is therefore completely and utterly inane. It was, in fact, just more GOP obstructionist abuse of the filibuster....the records they're setting by using it on almost every single piece of legislation just keep growing.

    December 8, 2011 12:23 pm at 12:23 pm |
  20. rs

    Note to Republicans: We are watching, and we are noting EVERY time you block appointments with holds, or use the filibuster to stop bills.
    - The American Voter.

    December 8, 2011 12:26 pm at 12:26 pm |
  21. LJW

    Republicans are making a farce of our democratic system of government. Child labor? War on Religion? Donald Trump? Fold your arms and say no to everything like a 2 yr old? It’s downright embarrassing. With this type of behavior, Democrats will keep the White House and control both House and the Senate for the next 20 years.

    December 8, 2011 12:30 pm at 12:30 pm |
  22. Sniffit

    "Keep protecting the top 1% and see where that gets you."

    Someone should buy like, let's say, 535 copies of "Anatomy of A Revolution and give them to the House and Senate for Christmas. I suggest they skip to the French Revolution first and learn about what happened to good ole Louis.

    "Brinton summarizes the revolutionary process as moving from "financial breakdown, [to] organization of the discontented to remedy this breakdown ... revolutionary demands on the part of these organized discontented, demands which if granted would mean the virtual abdication of those governing, attempted use of force by the government, its failure, and the attainment of power by the revolutionists. "

    We've hit the first stage, clearly. Now where oh where is Robespierre?

    December 8, 2011 12:34 pm at 12:34 pm |
  23. Four and The Door

    rs

    Note to Republicans: We are watching, and we are noting EVERY time you block appointments with holds, or use the filibuster to stop bills.
    - The American Voter.
    _______________________________________________________________________________________________
    Note to Republicans: Thank you for fighting for the rest of us who care about the performance of the American economy. We believe in support for businesses to create jobs.
    - The American Voter.

    December 8, 2011 12:34 pm at 12:34 pm |
  24. LJW

    To Four and The Door: Tax cuts for the wealthy were extended last year so they could create jobs.

    Where are all the jobs they created????

    December 8, 2011 12:43 pm at 12:43 pm |
  25. Ancient Texan

    All the libs babbling about the "obstructionists" are really disengenious. There are 22 bills (14 are jobs bills) passed by the House sitting on Harry Reid's desk. TABLED, without any discussion allowed. Now who is Obstructing what?

    December 8, 2011 12:44 pm at 12:44 pm |
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