Barney Frank Blasts Senate Republicans For Blocking Richard Cordray, Other Obama Nominees

Rep. Barney Frank (D-Mass.) sharply criticized Senate Republicans Friday for blocking President Barack Obama's nominees to head government agencies.

"It is the legislative equivalent to an arsonist having set a fire and objecting to a building’s inhabitants using the fire exit," Frank writes in an op-ed for The Washington Post.

Frank presents the case of Richard Cordray, a former state attorney general who was nominated by Obama in July to head the Consumer Financial Protection Bureau. Senate Republicans vowed to block Cordray's nomination -- or that of any nominee -- without changes designed to weaken the new agency.

Cordray is just one in a long line of Obama nominees that Republicans have blocked in order to protect financial institutions, Frank writes.

In June, Peter Diamond withdrew his nomination for Federal Reserve governor after failing to gain support from Senate Republicans. Richard Shelby (R-Ala.), the top Republican on the Senate Banking Committee, was just one GOP leader who criticized the nomination, saying Diamond -- who won the Nobel Prize in economics in 2010 -- lacked monetary policy experience.

Shelby also had a hand in ousting Joseph Smith, who was nominated by Obama to be the director of the Federal Housing Finance Agency.

While Frank notes that the Republicans' ability to object to the independence of the consumer agency is "entirely legitimate," he does disagree with what he sees as a misuse of power.

"Senate Republicans are not entitled to use the confirmation power as a bludgeon to get their way when they cannot do so through the normal legislative process," Frank writes.

As for Cordray, Frank expresses disappointment in the 44 Senate Republicans who have vowed they won't consider him to head the CFPB.

"We’re going to see an extraordinarily qualified administrator of an important consumer protection agency be trashed by the Senate Republican minority because their primary goal is to ensure that financial institutions are not troubled by what they may see as an excessive concern for consumer fairness," Frank writes.

Related video:

Comments

[AverageJoeInvestor]

10:26 AM on 09/07/2011

Ohio voters correctly fired Mr. Cordray in 2010. The Senators should be commended for attempting to instill law and order to the process. There is hope for Justice. It is not too late.

[Ricky Bobby]

01:23 PM on 09/05/2011

Barney has no lips.

[lwhitt58]

11:31 AM on 09/05/2011

"While Frank notes that the Republicans' ability to object to the independence of the consumer agency is "entirely legitimate," he does disagree with what he sees as a misuse of power.

"Senate Republicans are not entitled to use the confirmation power as a bludgeon to get their way when they cannot do so through the normal legislative process," Frank writes."
~~~~~~~~~~~~

Yes, Bwaney Fwank knows ALL ABOUT a "misuse of power", doesn't he? Hey Bwaney - remember how solvent Fannie Mae and Freddie Mac were, according to you? Yeah. How's THAT working out for you? Oh that's right - you just push that under the table so no one remembers how instrumental you were in saying the banking and mortgage industry was on solid ground, which it was just a bunch of quicksand.

And funny how Bwaney doesn't remember his *own* party misusing that confirmation power as a bludgeon.

This guy just needs to shut his trap. I really wish Congress had a term limit to get idiots like him out of office so they cannot continue to do damage over such a long period of time - and that means both Democrats AND Republicans!

[Readbetweentheelevens]

10:15 AM on 09/05/2011

Just use the super congress.

[englishman545]

10:27 AM on 09/05/2011

Can't, there are no more Telephone Booths for them to change into their costumes!!!

[walmart111]

10:05 AM on 09/05/2011

This is a simple story republicans block every thing and blame the president. Barney Frank is just stating the obvious whats up with all the comments lol. He is usually hilarious this is toned down for him. I like republicans that make under 200 k and belong to a union or have state jobs. They really understand politics lol. I also like preachers that supported Jack Abramoff and Lee Atwater. Please tell me why anyone would be a republican supporting big corporations and pollution and cuts on the middle class and the deregulation of wall street.

[El Chingaso]

08:56 AM on 09/05/2011

Old Barney needs to focus on LGBT issues, and leave real governing to those that haven't bought into...fear.

[hoodwinkr]

09:57 AM on 09/05/2011

duh?

[senorlou]

08:10 AM on 09/05/2011

For all you Republicans blaming Frank for the housing scam Bush ran, here is Bush on video pitching the scam himself: http://www.youtube.com/watch?v=kNqQx7sjoS8 He orders Fannie and Freddie to make out $400 billion in liar loans on this 7 minutes video. If you Republicans can send us a link showing how Frank caused Bush's fiasco, love to see it. Truth is, Republicans cannot take responsibility for any of their monster mess ups.

[chefmudshark]

09:47 AM on 09/05/2011

Keep sharing that link. Thanks.

[Kentster49]

11:59 AM on 09/05/2011

Franks is either dishonest or incredibly ignorant

http://www.youtube.com/watch?v=63siCHvuGFg

http://www.youtube.com/watch?v=_MGT_cSi7Rs&feature=related

[senorlou]

06:23 PM on 09/05/2011

Yep, one or the other, but in 2004, who was in charge of everything - I mean everything. These Democrats are WRONG, I've said it. They were wrong. Why can't Republicans admit when their people were wrong. If you watched my video, was Bush right there? He ordered these two institutions to give out $440 billion in liar loans. That was wrong too. He was the President. Two phony wars based on lies, a mutli trillion dollar tax cut that wasn't planned for, etc. etc. and no Republicans can blame the state of the union on their own. That was one hearing about breaking up Freddie and Fannie, who will run as well as the people in control run them.

[sympathy]

12:59 AM on 09/10/2011

Dishonest, but not to the degree that cheney bush were.

[senorlou]

08:02 AM on 09/05/2011

Of course the GOP will block any nominee for the Consumer Financial Protection Bureau. They don't want any consumers being protected, not even after the big meltdown in 2008, after it's obvious we desperately need an agency like this up and running. Can't we just get rid of these Republicans in 2012?

[speedydan79]

07:50 AM on 09/05/2011

Where has Frank been? Republicans have never been able to tolerate being out of the WH. Fierce opposition is their banner till they get it back. Then they roll over like dogs for whatever their Republican president wants.

[alanposting]

04:35 AM on 09/05/2011

Frank, you too have been another BIG disappointment.....you turned out to be just another political hack...with zero effectiveness.... time for you to go.

[pistol13]

12:12 AM on 09/05/2011

Barney Frank worrying about the GOP protecting the financial instituitons? That would be hilarious if it wasn't so pathetic. It was Frank and Dodd who under Bush said Fannie Mae and Freddie Mac weren't a problem and pressured them to support loans to people they knew couldn't pay them back. Dodd quit because he knew he would not be reelected. Unfortunately the people in Frank's district did not have one brain among them and sent Frank back to Congress to continue screwing things up.

[papau]

01:26 AM on 09/05/2011

Barney said in 2004 that the corruption of the CEO did not mean they were a problem.

Bush liar loans hit in 2004.

Is it hard to say Bush was a disaster?

[katyland]

01:33 AM on 09/05/2011

Frank should be out of office but the libs in mass voted him in again, he and Dodd were ring leaders in the subprime BS, he is as corrupt as they come,,,

[adelston2]

04:32 AM on 09/05/2011

BOTH PARTIES HAVE BECOME A JOKE NOW....SEEMS LIKE ALL OF WASHINGTON HAS BECOME A JOKE.....IT'S LIKE THE BLIND TRYING TO LEAD THE BLIND....I THINK THEY ALL NEED PINK SLIPS......I THINK THEY ALL NEED TO TRY TO COLLECT UNEMPLOYMENT.....WE REALY NEED TO LAY THEM ALL OFF AND JUST START OVER....TENURE AND LONG TERMS SHOULD BECOME A THING OF THE PAST.......WE NEED THE ABILITY TO LAY THEM OFF WHEN THEY CAN'T PERFORM THEIR JOBS..................NOTERMS, NO TENURE.....THEY SHOULD BE ON PROBATION FOR 90 DAYS JUST LIKE ALL THE OTHER AMERICANS ARE AND IF THEY DON'T PERFORM THEY SHOULD BE FIRED OR LAYED OFF PERIOD...TENURE AND LONG TERMS BREED CORRUPTION...IT GIVES POLITICIANS A LICENCE TO STEAL AND TAKE BRIBES WITH NO PUNISHMENT.......DOES BARNEY NOT HAVE AN UPPER DENTURE?....IT SOUNDS LIKE HE HAS NO UPPER TEETH??...AND IT LOOKS LIKE HE DOESN'T WEAR A DENTURE???...I CAN'T BELEIVE HE WALKS AROUND LIKE THIS.

[IrishRed1952]

11:49 AM on 09/05/2011

I like some of what you are saying but please don't shout. It's hard to read. Thank you.

[moebalot]

11:47 PM on 09/04/2011

What an unmitigated clown!
Honest Financial crises observers know that Sen. Dodd and Representative Barney Frank were the top Political villains in this below prime mortgage debacle via their sweetheart connections to the Fannie Mae and Freddie Mack government institutions, to force/direct Banks to provide sub prime mortgage loans to unqualified home buyers in the name of Social Engineering. During the bailout Investigation activities, Congress as usual having no shame allowed these two political hacks to have roles in cleaning up the mess that they helped create?
What Raines, Johnson and Gorelick did with Fannie makes the Enron boys look like shoplifters at the 7-11? Those boys were put in jail, their assets confiscated and their lives ruined. Barney Frank, Chris Dodd, and the Fannie Gang should suffer the same fate.

[slacker snowboarder]

12:53 AM on 09/05/2011

Your rant has very little to do with the topic of the article. The number of filibusters and the number of appointment blocks by anonymous politicians is the highest in our history.

[papau]

01:13 AM on 09/05/2011

Get your facts straight.

Bush approved liar loans - Frank had a lover in the 90's working for 7 years - in the 90's - for Fannie. Hard to place blame for 2008 on that. Or low income loan purchases that Cuomo pushed - seemed they had no problem - until Bush changed the underwriting rules. Or derivatives and MBO's issued by investment banks - never were regulated under Glass-Steagall Act of 1932 - seems the only regulator for them - ever - under the law was Greenspan and the Fed - and the GOP and Bush refused to regulate.

[cgri105957]

11:34 PM on 09/04/2011

DONT THIS LOOK LIKE A POLISH KEILBASA ---JUST ASKIN HEH HEH HEH WELL I DO SAY

[tepeko]

11:22 PM on 09/04/2011

I want to hear Barney Frank say: "Suffering Succotash!"

[gold7246]

10:51 PM on 09/04/2011

Hey Barney, haven't you done enough to hurt this Country. Why don't you just fade away with your "friend". I get so sick of hearing your slobbering comments and bullying statements, as if we should be intimidated by you. Barney you really are a joke.

[cgri105957]

11:39 PM on 09/04/2011

RIGHT ON BRO --YEA KNOW ONLY 4% OF THE US. POP. ARE KINDA DIFFERENT --WHY DO THEY WEILD SO MUCH POWER HUMMMM LETS SEE---WELL OK FRANF, FRANKY. FRANFIE, OH BOY JUST OLD FRANK HEH HEH HEH WELL I DO SAY