Scott Brown Mimics Elizabeth Warren, Endorses Obama CFPB Nominee

WASHINGTON -- Sen. Scott Brown (R-Mass.) endorsed President Barack Obama's nominee to head the new Consumer Financial Protection Bureau on Monday, according to The Boston Globe.

His backing of former Ohio Attorney General Richard Cordray will likely have little to no effect on Cordray's prospects for actually securing the nomination. A total of 44 other Senate Republicans, more than enough to filibuster a vote on Cordray's appointment, have already vowed not to approve any CFPB director unless the agency's capabilities are limited by new laws.

Cordray was the law enforcement official most aggressively pursuing action against banks on foreclosure fraud until he was ousted by a Republican challenger in late 2010. Elizabeth Warren, the consumer advocate who conceived of the CFPB and who is now challenging Brown for his Senate seat, hired Cordray to head enforcement activity at the bureau shortly thereafter. Obama nominated him to head the agency after passing over Warren, whose public criticism of big banks and the Wall Street bailout had agitated congressional Republicans and Democratic campaign donors from the financial industry.

Meanwhile, Warren has given Cordray her full support for CFPB director, and Republican groups have continued their efforts to tie Warren to the Occupy Wall Street movement and portray that association in a negative light. Warren has not stopped criticizing big banks, although she insists that everyone involved in the protests must "obey the law."

Brown, whose top career campaign donors include Goldman Sachs, Morgan Stanley, Barclays and the hedge fund Paulson & Co., was one of just three Republicans to vote in favor of the Dodd-Frank financial reform bill. He withheld his vote, however, until he had secured highly targeted legislative favors for hometown banking giant State Street.

Comments

[mar1964]

01:23 PM on 11/22/2011

We need to vote against the following in 2012
: Scott Brown
Mitch McConnell (figuratively, not up for re-elect)
John Boehner
Eric Cantor
Paul Ryan
Michele Bachmann
Ron Paul
Joe Walsh
Newt Gingrich
Herman Cain
...and all other obstructors and Tea Partiers

[kocean1]

11:06 AM on 11/17/2011

Warren for President in 2016-Go Liz

[Pod-gers]

07:28 AM on 11/16/2011

LOL Scott Brown has been way out in front of this.

[RepublicanDepression]

10:31 PM on 11/15/2011

GOP (Greedy One Percent) Senator Scott Brown is the NUMBER ONE RECIPIENT of Hedge Fund and Venture Capital contributions and the number two for private equity firms and securities firms.

Elizabeth Warren supports Occupy Wall Street.

Scott Brown IS Wall Street.

[RepublicanDepression]

10:29 PM on 11/15/2011

"Cordray was the law enforcement official most aggressively pursuing action against banks on foreclosure fraud until he was ousted by a Republican challenger in late 2010. Elizabeth Warren, the consumer advocate who conceived of the CFPB and who is now challenging Brown for his Senate seat, hired Cordray to head enforcement activity at the bureau shortly thereafter."

What?

Hold banks accountable?

Help consumers?

The GOP (Greedy One Percent) will NEVER allow that!

Filibuster now!

[stevec2nd]

02:56 PM on 11/15/2011

What really has to happen is an "Occupy Congress and the boardrooms of America" movement, by voting out the corporate shills, and buying enough voting stock in these corporations to take control of the people running these outfits. If you can buy one share it's often enough to get the right to vote, find out who is running the show, and then band together to run them out and replace them with people who still have souls. THAT will get some attention and some results.

[Genders]

07:26 PM on 11/15/2011

Yes, vote for the Kucinich, Warren, Grayson CPC progressives in the primaries and the dems, including Obama in the general since the GOP/Tea are anti republic, anti democracy, anti the Beast, Tories.

[Miami Don]

02:34 PM on 11/15/2011

"…top career campaign donors include Goldman Sachs, Morgan Stanley, Barclays and the hedge fund Paulson & Co"...." He withheld his vote, however, until he had secured highly targeted legislative favors for hometown banking giant State Street."

Has he already done his damage control with Goldman Sachs, Morgan Stanley, etc… and in order to keep their guy in office he has a wink-wink-nod-nod from them? Maybe he does care about protecting his constituents. In his past he has worked toward stabalizing the economy control. Also, there is the third possibly he is counting on the remaining 44 Republicans who do not want Richard Cordray appointed head of the Consumer Protection Agency to filibuster.

Whatever the reason it is going to be hard to defeat Elisabeth Warren because she honestly does care. Frankly there are no question marks concerning her motives.

Also, she may be one of the few politicians who grasp the reality of OWS. We need to be looking for more like her while trying to avoid any party affiliation. Even as hard as the TEA Party (LOL) makes it! (Maybe someday soon they will realize OWS is an ethics movement and not their political rival - and there is plenty of room for them too)

[kareemachan]

01:22 PM on 11/15/2011

'A total of 44 other Senate Republicans, more than enough to filibuster a vote on Cordray's appointment, have already vowed not to approve any CFPB director unless the agency's capabilities are limited by new laws.'

Oh boy, more obstructionism. Way to go, baggers. After, who needs consumer protection, right?

[Due4AChange]

12:51 PM on 11/15/2011

Scott Brown is a person with real conviction...conviction to get re-elected at any price.

I'm sure his boss Mitch McConnell gave him the OK to take this position without the wrath of the GOP coming down on him while they stall all progress in America.

He's an empty suit - a toothache of a man.

[stevec2nd]

03:00 PM on 11/15/2011

That is actually a fairly common strategy to strengthen a particular politicians position among his/her constituents, knowing that when the leadership needs them to vote a certain way down the road, they will be there with their tails just a-wagging.

[bleak]

12:45 PM on 11/15/2011

I live in Massachusetts and other than ‘Liz Warren, the next largest component in the demise of Scott Brown will ironically be his own party.
The huge sums of money already being spent on attack ads by the likes of Karl Rove’s PAC, Crossroads GPS, will not sit well with Massachusetts voters. They can see through the falsehoods and fear mongering the ads rely on.
Voters who perceive Scott Brown as a reasonable moderate Republican, will associate these “far-right” ads with him and begin to have second thoughts over his sincerity.

[Dee-Dee]

01:00 PM on 11/15/2011

GOOD

[Joanne Cole]

02:17 PM on 11/15/2011

As a fellow MA resident, I completely agree..

[Dan1902]

12:30 PM on 11/15/2011

Somebody knows he's going down!! LMFAO

[frappe]

12:25 PM on 11/15/2011

This is a meaningless gesture on Brown's part. He's just trying to show he's somewhat "purple" and not totally "red" in an effort to woo Mass. voters.

The fact remains he's a Republican -- a group that is singularly responsible for our collective economic misery today. Astonishingly, this group continues to push for deregulation and repeal of the few, watered down Wall St. reforms that the Democrats managed to pass during the first two years of O's term.

[Clevelandinwi]

12:01 PM on 11/15/2011

scottie braun - master of useless votes.

[no exit]

11:53 AM on 11/15/2011

Hey brown, pretty soon you can get your old job back, posing nude on billboards. At least that doesn't take any brains.

[D-V-H]

11:41 AM on 11/15/2011

GOP leadership let Brown endorse Cordray knowing full well it won't get Cordray confirmed. Brown's other votes and focus put the lie to this crass move.