General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsPresident Barack Obama's prepared remarks of speech announcing Cordray's recess appointment
excerpt of remarks of President Barack Obama as prepared for delivery:
Shaker Heights High School
Cleveland, OH
January 4, 2012
. . . today, we're taking another important step one that will bring us closer to an economy where everyone plays by the same rules. And to help us do that, I'm joined by someone you might recognize: Richard Cordray.
Today I'm appointing Richard as America's consumer watchdog. That means he'll be in charge of one thing: looking out for the best interests of American consumers. His job will be to protect families like yours from the abuses of the financial industry. His job will be to make sure you've got all the information you need to make important financial decisions. Right away, he'll start working to make sure millions of Americans are treated fairly by mortgage brokers, payday lenders and debt collectors. In fact, just this week, his agency is opening up a simple, 1-800 number you can call to make sure you're getting a fair deal on your mortgage, and hold banks and brokers accountable if you're not.
I nominated Richard for this job last summer. And yet, for almost half a year, Republicans in the Senate have blocked his confirmation. They've refused to even give Richard and up-or-down vote. It's not because he's unqualified. There is no question that Richard is the right person for this job. He's got support from Democrats and Republicans. A majority of Attorneys General from both parties across the country have called for Richard to be confirmed. Your local Members of Congress who are here today they support him. He has the support of a majority in the Senate. Everyone agrees that he's more than qualified.
The only reason Republicans in the Senate have blocked Richard is because they don't agree with the law setting up the consumer watchdog. They want to weaken it. Well that makes no sense at all. Does anyone think the reason we got in such a financial mess was because of too much oversight? Of course not. We shouldn't be weakening oversight and accountability. We should be strengthening it especially when it comes to looking out for families like yours. Financial firms have armies of lobbyists in Washington looking out for their interests. It's time someone fought for you, too.
This is a fight that Richard has been waging here in Ohio for the better part of two decades. As your Attorney General, he helped recover billions of dollars in things like pension funds on behalf of retirees, and protected consumers from dishonest lending practices. Before that, Richard was the State Treasurer, where he earned a reputation for working with folks from across the spectrum Democrats, Republicans; bankers and consumer advocates.
Cleveland, you've seen the difference that Richard can make for consumers. I have too. And that's why I want Richard to keep standing up for you not just here in Ohio, but all across the country.
Every day that Richard waited to be confirmed was another day when millions of Americans are left unprotected. Without a Director in place, the consumer watchdog agency we've set up is left without the tools it needs to prevent dishonest mortgage brokers, payday lenders and debt collectors from taking advantage of consumers. That's inexcusable. It's wrong. And I refuse to take "no" for an answer.
read entire prepared speech: http://www.cleveland.com/open/index.ssf/2012/01/president_barack_obamas_prepar_1.html
Pryderi
(6,772 posts)badgolfer
(244 posts)McConnell in front of the press core worried about violating historical precedent. What a hoot. It is funny that the Republicans only worry about precedent when they are not in control.
What about the Supreme Court violating precedent in the Citizens United ruling? Where was the concern from McConnell and other Repubs then?
What about Bush/Cheney violating precedent ever time they turned around? Where was the concern then?
What about McConnell's republicans in the Senate violating precedent by not giving Obama an up or down vote on his nominees? Remember when Bush was President and that was all the Republicans could howl about was giving Bush and up or down vote. That Presidents deserved to get their nominees approved.
What a bunch or hypocritical jerks!!!!!
mazzarro
(3,450 posts)FSogol
(45,488 posts)Scurrilous
(38,687 posts)lsewpershad
(2,620 posts)K&R
JDPriestly
(57,936 posts)He is talking straight about what he is doing.
Good job. I hope the text of this goes viral. Says it all.
I don't have a lot of confidence in the choice of this guy because after all it should have been Elizabeth Warren. I suspect that the new Director is some sort of weak compromise, but I hope I am very wrong.
In any event, and in spite of my pessimism, I believe this is a great start.
Just think, if we had a Democratic Congress, this simple appointment would have been made months and months ago, and we could focus on other things.
Republicans have proved over the past 42 years that they are incompetent when it comes to governing.
Republicans pride themselves as being the job-providers. And I think, no wonder we have so much unemployment. They really don't manage anything very well, do they?