- Oct 16, 1999
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WASHINGTON (AP) -- In a defiant display of executive power, President Barack Obama on Wednesday will buck GOP opposition and name Richard Cordray as the nation's chief consumer watchdog. Outraged Republican leaders in Congress suggested that courts would determine the appointment was illegal.
With a director in place, the new Consumer Financial Protection Bureau can start overseeing the mortgage companies, payday lenders, debt collectors and other financial companies often blamed for practices that helped tank the economy.
The president planned to highlight just that point during his announcement later Wednesday in Ohio that he was putting Cordray in the job.
It seems certain to raise the level of confrontational politics for a president seeking re-election by championing the middle class. Acting right after Tuesday's GOP presidential caucuses in Iowa, Obama is seeking to grab attention with his most brazen leap-frog over Congress and show that criticism won't slow him.
More at link:
http://hosted.ap.org/dynamic/stories/U/US_OBAMA?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT
This is the president leading. This is congress getting (moved) the f*ck out of the way.