27 July 2011

You Have to Love the Bait and Switch that Obama Pulled on the CFPB

As you know, Barack Obama decided not to appoint Elizabeth Warren as the first head of the Consumer Financial Protection Bureau (CFPB), but instead chose to nominate their current head of enforcement, Richard Cordray, former Ohio Attorney General, who had filed lawsuits against predatory banks.

It was better than the alternative, Raj Date, but it seemed to me that it was a worthless gesture to the Republicans, since they promised to filibuster anyone, because they want the bureau gutted.

Obviously, this screams "Recess Appointment," but Obama is having none of that, not because he's weak, but because this creates paralysis which he can exploit to effectively make a banker the head of the agency.

Raj Date has been elevated to adviser to the Treasury secretary for the Consumer Financial Protection Bureau, Warren's old position, and I guarantee that there will be no pressure from the Obama to administration to get an up or down vote on Cordray.

They give a nod to the people who want the CFPB to work with their nomination, and then they put a bankster in charge of running the bureau.

Seriously, Obama has his tongue so far up the bankster's asses that he tastes tonsils.

Who is Date? He's the current associate director of research, markets and regulations, and he's a f%$#ing bankster, having been the, "senior vice president for corporate strategy and development at Capital One and a managing director in the financial institutions group at Deutsche Bank."

So now, Date can emasculate the CFPB while Cordray waits for a vote on his nomination that will never come.


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