Barney Frank (in the Washington Post): …. The president has nominated Richard Cordray, an able, experienced and thoughtful former state attorney general who has a record of achievement in protecting individuals against financial abuse, to head the Consumer Financial Protection Bureau. And the Republican minority in the Senate has announced that it intends to deny any consideration of the individual …. they will do that by blatantly distorting the Constitution…..
Cordray is just the latest capable, dedicated public servant to fall victim to a Republican mugging …. his record as attorney general of Ohio puts him in a small group of people able to act effectively to deal with the mortgage crisis. No one has raised any questions about his intelligence, integrity or dedication.
Yet his nomination will not even be fairly considered by the full Senate …. They will not confirm anyone until the Senate majority reverses itself to once again put bank regulators in a position to overrule virtually all of the policies that would be set by the consumer agency. The president is being told that the price of having a nominee confirmed is reversing himself on a major policy initiative that has already been enacted.
…. Cordray’s hearing is scheduled for Tuesday, and we’re going to see an extraordinarily qualified administrator of an important consumer protection agency be trashed by the Senate Republican minority because their primary goal is to ensure that financial institutions are not troubled by what they may see as an excessive concern for consumer fairness.
They are now refusing to confirm any recess appointment …. It is the legislative equivalent to an arsonist having set a fire and objecting to a building’s inhabitants using the fire exit.
Full article here