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Title: SHEILA JACKSON LEE: Loyalty to skin color trumps constitution
Source:
Houston Chronicle
URL Source: http://blog.chron.com/txpotomac/201 ... -consumer-protection-official/
Published: Jan 6, 2012
Author: unattributed
Post Date: 2012-01-06 22:08:08 by A K A Stone
Keywords: impeachable offense, treason, racist
Views: 232
A Houston-area Democrat serving in the House is hailing President Obama’s controversial recess appointment of a former Ohio attorney general to head the Consumer Financial Protection Bureau. Obama exercised rarely used presidential powers on Wednesday to name Richard Cordray to the post after Cordray’s nomination was blocked by Republicans in the Senate. Obama resorted to the step after Cordray’s Senate confirmation had been sidetracked for months. The president “acted to protect consumers against some of the worst abuses in the financial marketplace by appointing Richard Cordray,” said Rep. Sheila Jackson Lee, D-Houston. “Senate Republican obstructionism has until now prevented the bureau from fulfilling its mandate from Congress to oversee some of the worse anti-consumer practices of non-bank financial services providers, like payday lenders, debt collectors, and check-cashing outlets.” Jackson Lee added that Cordary has “spent his career fighting for consumers, for Main Street, and for America’s middle class. With his appointment, Richard Cordray will bring transparency and accountability to an area of consumer finance long overdue for stronger oversight.” Sens. John Cornyn, R-San Antonio, and Kay Bailey Hutchison, R-Dallas, criticised Obama’s move in statements issue on Wednesday. The GOP lawmakers claimed the new agency would impede economic recovery with regulations on financial institutions. Democrats favor the agency, claiming it will protect consumers from some of the financial irregularities that contributed to the worst economic downturn since the Great Depression.
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