On the left: Richard Cordray. Then…former contestant on Jeopardy. Now…Obama nominee in jeopardy.
My latest column spotlights the upcoming Thursday vote on Dodd-Frank czar nominee Richard Cordray. The White House doesn’t have the votes. Not only are the Senate Republicans holding the line, but Team Obama is also bracing for several Dems to bail as well.
Naturally, the administration is in full class warfare mode. Naturally, the Fishwrap of Record cheered his “populist chord” against “breathtaking greed” while ignoring his latest imperial attempt at a breathtaking power grab. See below for how the Soros monkeys are pushing Obama to follow in TR’s footsteps at ram Cordray through via recess appointment.
“This isn’t about class warfare. This is about the nation’s welfare,” Obama lectured in Osawatomie, KS. Nah. It’s about what Obama is and has always been out: His electoral welfare.
Transparency you can count on.
Update 12/8 11:08am Eastern….CORDRAY CLOTURE VOTE FALLS SHORT OF NEEDED 60. 53-45. GOP Sen. Scott Brown votes with Dem majority to support Cordray. Note it.
Thanks to the GOP Senators who held the line on accountability and limited government. One super-czar turned down. Vigilance ahead.
Sore loser Obama fumes, says rejection “makes absolutely no sense.” Vows not to give up on Cordray. Won’t let “politics as usual” stand in the way. Says he won’t rule out a recess appointment for Cordray. Just as reported below. See below for Soros tactics ahead.
Ixnay on Cordray: Not another Obama czar
by Michelle Malkin
Wrapping himself in the mantle of Theodore Roosevelt’s “National Greatness” agenda, President Obama urged the nation to stand strong and unite behind…his umpteenth regulatory czar. Because nothing symbolizes American strength and vigor more than another unaccountable Washington bureaucrat!
If Richard Cordray, the stalled White House nominee to enforce the Dodd-Frank financial bureaucracy, is not approved, the wheedler-in-chief warned in Osawatomie, Kansas: “Every day we go without a consumer watchdog in place is another day when a student, or a senior citizen, or member of our Armed Forces could be tricked into
a loan they can’t afford – something that happens all the time.”
In Obama’s America, you see, “greatness” springs from vastly expanding government power to shield every last borrower in the country from poor financial behavior.
Senate Republicans have vowed to block Cordray or any other candidate for the job until key reforms are made to the sweeping law and its half-billion-dollar enforcement arm, the Consumer Financial Protection Bureau. The common-sense changes include subjecting the CFPB to the congressional appropriations process instead of the Federal Reserve; restoring independent judicial review; ensuring that it takes into account the impact of new rules on the safety and soundness of
financial institutions; and creating a bipartisan oversight board instead of a single director to run the agency.
Obama himself supported such a panel — before he opposed and demagogued it. As it stands, the bureau remains under the Treasury Department. The minute a director is sworn in, the agency will transfer to the fed for administrative purposes, but will effectively have free rein. The Fed’s authority over it is illusory. And it would be impossible for the Dodd-Frank czar to be removed by a change of administration because his term is five years and his tenure protected.
While crusading as a consumer watchdog who’ll take on Wall Street, Cordray (whom voters booted from the Ohio Attorney General’s Office last fall) is tight with securities class-action lawyers. As Daniel Fisher at Forbes Magazine reported, Cordray has a record of “taking money from lawyers who profit from private litigation that often follows closely on the heels of government investigations.” In other words: Exactly the kind of cozy, crony relationships that created our financial crisis in the first place.
As for Cordray’s ability to police shady behavior by others, his own record as Ohio Attorney General raises more doubts than it allays. When local papers spotlighted shady campaign account-shifting involving nearly $800,000, even a liberal Ohio Citizen Action leader responded: “I’m sure he’s following the letter of the law. It’s certainly not following the spirit of the law.”
A vote on Cordray is scheduled Thursday and the White House doesn’t have the support to secure a filibuster-proof approval. Thus, the taxpayer-funded barn-storming tour this week (which just happens to provide a handy pretext for targeting GOP senators in seven swing states).
But Obama’s radical supporters aren’t about to let the deliberative process stand in their way. They’re pushing the president to follow in TR’s footsteps and ram Cordray through by recess appointment. The George Soros-funded propaganda outfit Think Progress led the rallying cry. In 1903, Theodore Roosevelt recess-appointed 160 officials during a recess of less than one day. “Such an appointment would not be without political controversy — but would likely be upheld as legal given the Roosevelt precedent,” a Soros operative opined. “Simply put, it’s time for President Obama to speak softly, and carry a big stick.”
Obama’s been thwacking the economy with a Chicago-crafted billy club and wielding brass knuckles against critics, whistleblowers, and true regulatory reformers for the past three years. Memo to the White House: This is not what TR meant when he used his favorite phrase. “Bully!”