Are they going to do us again>>>>>

[Guest072311]

Agree or disagree?

The Consumer Financial Protection Bureau (CFPB)—which was created as part of the landmark financial reform law President Obama fought hard to pass—is scheduled to open on July 21. The new agency is designed to protect consumers from abusive lending practices by banks, credit card companies, mortgage companies and others.

But 44 of Wall Street’s friends in the Senate are flat-out refusing to consider any nominee to lead the Consumer Financial Protection Bureau—unless they’re given the right to defund it, which is just the first step in weakening the bureau and ultimately repealing the entire Wall Street reform law. According to The Hill:
Senate Republicans have vowed to hold up any nominee to lead the CFPB and say the blockade will not end until changes are made to curb the bureau’s authority.
Rep. Barney Frank (D-Mass.) recently called this “the worst abuse of the confirmation process I’ve ever seen.” He added, “What it clearly says is that the president will have to make a recess appointment.” We agree.

To begin its work to protect consumers, the CFPB must have a strong director from Day One. And in our view, there is only one candidate who is uniquely qualified and equipped to head this new agency: Elizabeth Warren.

Urge President Obama to appoint Elizabeth Warren to lead the Consumer Financial Protection Bureau when Congress goes on recess.

By refusing to make any appointment to lead the CFPB, Senate Republicans effectively have recused themselves from having any input into whom President Obama appoints. It’s a dereliction of their constitutional duty to “advise and consent” on the president’s nominees.
Fortunately, President Obama can bypass these obstructionists by making a recess appointment.

No matter who gets the recess appointment of President Obama, Republicans have made it clear they’ll scream and holler. This reflects a sorry state in our politics—but it’s also a historic opportunity to recess appoint Elizabeth Warren, who’s already shown as acting director of the CFPB that she’s a true champion for working families.

Urge President Obama to recess appoint Elizabeth Warren—who will truly stand up for consumers.

Working families need Elizabeth Warren to launch and lead the bureau because she is uniquely qualified for the job. She’s proven herself to be a fearless advocate for the American public. She originated the idea of the Consumer Financial Protection Bureau. She’s strong and brave, smart and fearless (I’ve met her, and I’m very impressed).

But Warren’s also fair—not one-sided. She does know how to work alongside banks, despite how vilified she is by some vocal Wall Street naysayers. As The Wall Street Journal recently reported:
Oklahoma Bankers Association President Roger Beverage thought Elizabeth Warren was the “Antichrist.” But now he wants President Barack Obama to use his recess appointment powers to make her the first director of the new consumer protection agency.
Elizabeth Warren is the right choice for working families—let President Obama know we need her to get to work.

We should all be grateful for President Obama’s hard work to create the landmark Consumer Financial Protection Bureau. We fought with him, pushing Congress hard to pass a strong law with an independently funded agency that has the potential to be a strong voice for working families.

Now, we need President Obama’s help again to make sure the agency he envisioned can begin its critical work.

Please let the president know we support the recess appointment of Elizabeth Warren: a strong, pro-consumer director who will get the agency up and running.

Thank you for fighting to have Elizabeth Warren lead the CFPB. She’s the candidate who is most likely to keep Wall Street from gouging consumers and creating another Great Recession.

In Solidarity,

Richard L. Trumka
President, AFL-CIO

P.S. Congressional Republicans are only interested in repealing Wall Street reform—and they’ll even use personal attacks to try to achieve their goal. Rep. Patrick McHenry (R-NC)—whose top campaign contributors are Wall Street banks—went so far as to accuse Elizabeth Warren of lying.

Let President Obama know working families will stand behind him as he works to open a strong agency with a strong director who will protect consumers from scams and another Great Recession.

[Longermonger]

1) Are you a consumer? Yes.
2) Do you need financial protection? Yes, if you have less money than Citibank. No, if you have more money than Citibank.
3) Is the government of the United States more or less powerful than a bank/insurance company/other financial institution? More.

Obviously, the CFPB would be a good way for individual consumers to band together and wield the power of their government to protect each other from these powerful corporations. The corporations, however, HATE the idea. They want to kill it in the crib so they can keep on raping consumers for profit.

If you like paying a bunch of confusing fees, hidden fees, and high credit card rates...then by all means let big business get their way.

[CuteOldGuy]

LOL! Longer, if you think that the corporations and the government aren't two sides of the same coin, I'd like to sell you our very own Keeper of the Plains! Yeah, we'll see how big business and big banking are hurt by this bill. LOL! You are hilarious!

[Guest072311]

IF the department can do it's job, IF they are allowed to this time....
http://www.insidejob.com/
Producer Charles Ferguson began his Academy Award acceptance speech by reminding us that three years after our worst financial meltdown "not a single financial executive has gone to jail

[JD Barleycorn]

The letter was written by Trumka. Union leader, admitted communist, close personal friend of Obama, and the one person who has visited the White House more than any other person. I would oppose any nomination if Trumka wanted it to happen. The GOP does not have the votes to stop the process merely delay through procedural delays allowing the Democrats to use the nuclear option. That should illustrate that Frank is a two bit liar if he thinks that is the worst he has seen.
Warren was in charge of TARP and the very purpose behind TARP (ridding the system of toxic assets) has failed until the housing market can get rid of the bad mortgages. Her tenure was a failure and a great deal of political cronyism has become apparent.
The New York Times quotes SEIU bigwig Mr. Beverage that he is afraid that she is partisan and unapologically so.
She lacks the experience, she is partisan, she is a political crony, and she is supported by some very wrong people. I do hope they stop her nomination.

[guest010313]

Or people could, ya know, read the fine print. But if we need yet another layer of babysitter, bring it on.

[CuteOldGuy]

I'm just going to watch this one. JD has things under control.

[SinsOfTheFlesh]

I'm liking this JD guy. Intelligent commentary that has the ring of truth to it. Thanks for sharing JD.

[Longermonger]

Originally Posted by JD Barleycorn

Warren was in charge of TARPPassed by Bush Republicans, right? and the very purpose Didn't TARP have several purposes? Would you rather have the collapse of Wall Street and loss of the entire auto industry?behind TARP (ridding the system of toxic assets) has failed until HAS FAILED UNTIL?!? What tense is that? Conditional past/future perfect? I will has having been laughing at you.the housing market can get rid of the bad mortgages. Her tenure was a failureForget than Wall Street and the Big Three were saved and that most of the money has been paid back. and a great deal of political cronyism has become apparent.

You sir, are a TARP harper. Quit harpin' 'bout TARP and hatin' Betty Warren. You just jealous of professor Warren.

[kcbigpapa]

Originally Posted by JD Barleycorn

The letter was written by Trumka. Union leader, admitted communist, close personal friend of Obama, and the one person who has visited the White House more than any other person.

Proof? I bet you cannot produce it as it is again more GOP rhetoric. You are no different than the other neocons and ultraliberals here. Both make me sick. We desperately need a third party for the moderates. The neocons have taken control of the GOP and the libs have taken control of the Dems. Most of the country is neither, but there is no third option so the only option available is the lesser of two evils.

[JD Barleycorn]

If you are looking for a little card that says Richard Trumka, Communist Party, USA you are not going to find one. Face it, the CPUSA works behind the scenes with so many dupes. What you have to look for is what a person says and does. So here is some of that proof.
"a working relationship with Trumka" Podcast from the CPUSA. http://www.youtube.com/watch?v=lY9tt4aV73s
Trumka rescinds AFL-CIO order that communists cannot be in leadership positions.
Trumka says his job is to advance progressive agenda and not worker rights.
I know that you will never believe me until you prove it to yourself (that is what being a dupe is) but I have a question for the people here; do any of you think that communism is still a threat, or has never been a threat?
Kind of makes you sound like Glenn Beck but that is how the left has worked for decades. You take someone like Beck or McCarthy demonize them and make them objects of ridicule. So anytime they are right about something or you are getting to close to the truth of an issue then the left just calls you a name or compares you to Beck. That is the extent of the argument; I don't agree with you, you sound like someone we don't like, your argument must be shit.
My understanding, and you can see it, is that the progressives are running the Democratic Party but the conservatives are not running the GOP. They have a powerful voice at the moment but Boehner, McConnell, and Romney are certainly not conservatives. FYI; progressive is code for socialist. A classic liberal sounds very much like a modern conservative. The democratic party, like the 1920, 30s Soviet Union has purged itself of many non-believers who don't follow the party line. There are no conservative democrats today in the party and the moderates are a minority. The information is out there for the discovery but I am afraid that you would discount it because you saw it presented by someone you don't like.

[JD Barleycorn]

I thought I should come back and address the concerns of the GOP (and this can be flipped so easily). Our government has three branches; legislative, executive, and judicial. They are each independent from each other. The power of the legislative branch comes from the power of the purse strings. A president can be prevented from taking unpopular, but constitutional, actions by the Congress withholding funding. The judiciary has the power to declare something unconstitutional and thus null and void. The executive branch has a unified command which allows it to be more flexible and proactive.
The Consumer Protection Financial Bureau was established by the Dodd-Frank Act passed in 2010. It is lodged in the Treasury department but is supposed to become independent after it's officers are selected. That is the problem; the executive branch selects the officers and the legislature needs to have the power of the purse strings to meet the standard set by the founders. The authority must be a three legged stool. The executive selects the officers, sets the agenda and the legislature controls the money for enforcement, and the judiciary retains the power to declare an act unconstitutional. This president is attempting to circumvent these protections. He will select the officers including the leadership and give no power to the congress for oversight. This reminds me of Fannie Mae and Freddie Mac except in reverse. The congress had all the control and the White House had no oversight and see where that got us.
This is not partisan, this is procedural. The same argument can, and should be, made if a Republican president tried the same end run. I should also point out that when Dodd-Frank was passed the GOP had no say so in the matter. I am sure that founders did not have something like that in mind when they split the government up.