Obama's consumer watchdog is dead in the water
October 6th, 2011
05:27 PM ET
10 years ago

Obama's consumer watchdog is dead in the water

Washington (CNN) – President Obama is pretty much doomed to a director-less Consumer Financial Protection Bureau through next year.

It's not about Elizabeth Warren, who came up with the idea. It's not about Richard Cordray, the president's nominee to be the consumer bureau's first director. The problem is that Obama and key players in the Senate are at an impasse about whether the agency should exist at all - at least in a form that gives its actions any teeth.


Filed under: CNNMoney.com • Elizabeth Warren • President Obama • Senate
soundoff (4 Responses)
  1. Sniffit

    Obstruct obstruct obstruct. Guess what? It's LAW. It's on the books and is a legal, lawful, required part of the government as written. The proper procedure here is to appoint a director as required, let it start doing its job as written and, if you want to change it, pass legislation changing it. Period. Instead, we have the GOP doing what it does best: breaking government in an attempt to get its way. Why? Because it wouldn't be able to force the changes that it wants via the correct legislative channels....WHICH IS HOW IT'S SUPPOSED TO WORK. A past Congress passed a law and created this thing and it stays that way until a subsequent Congress can manage to change it. Period. Holding its proper function hostage by arbitrarily and capriciously refusing to approve the nomination of a director is nothing more than PUROSEFULLY BREAKING THE GOVERNMENT in order to blackmail people into giving you what you want.

    GOP: "Government is broken...see...we broke it!!!!"

    October 6, 2011 05:38 pm at 5:38 pm |
  2. MTATL

    What a surprise, surprise. The GOP the party of "NO", NO ideas, NO plan, NO leadership and NO diversity.

    October 6, 2011 05:47 pm at 5:47 pm |
  3. The Greedy Old Pigs have declared class war on US!

    This is why we need the Wall Street protests. It is the rich overlords who are pulling the strings in DC. They are terrified that their currently legal versions of theft, extortion and corruption will be stopped.

    October 6, 2011 08:40 pm at 8:40 pm |
  4. Sheila

    Don't you people understand that Wall Street donates to Obama and Democrats? Don't you understand that businesses create jobs! And to MTATL, don't you realize that the Republicans wanted to vote for this hypocrisy in the Senate but your little Harry Reid stopped it? Get your facts straight!

    October 7, 2011 10:56 am at 10:56 am |