Elizabeth Warren -- the mother of the Consumer Financial Protection Bureau -- deserves a big round of applause from the American people.
Mind you, this is only one small action, and I don't expect it to manifest itself in Republicans in the Senate starting to act for the good of the nation and not just blocking everything unanimously that the president proposes, just because the president proposed it.
An extraordinary meeting is taking place today, which all 100 senators have been invited to attend. This should really not be an extraordinary thing -- you'd think that all senators meeting together would just be an actual floor session in the Senate -- but it is because it's actually a political meeting, with the doors closed.
Senator Kirk voted against allowing a floor vote on Cordray and signed a letter with 42 Republicans vowing to block any nominee, no matter how qualified, unless the CFPB is substantially weakened. That isn't right.
For over a year now, I have been saying in this space that the CFPB and its director, Richard Cordray, were going to grab the consumer collection industry by the seat of their pants, turn it upside down, and give it a good shaking. No one believed me.
By standing up to Republican abuse of rules in the Senate, Democrats will be standing up to the economic abuse inflicted on most Americans by a tiny minority of unelected, wealthy speculators and CEOs who think they are entitled to be "masters of the universe."
Consumer protection should not be a partisan issue. No party or political ideology that I'm aware of endorses consumers being ripped off.
Senator Harry Reid has hinted that he might in the next few days use the nuclear option to secure the confirmation of Richard Cordray as Director of the CFPB.
What are some of the protections we wouldn't have at all, if Senator McConnell and Wall Street have their way and we didn't have a Consumer Financial Protection Bureau at all?
It is vital that the Senate confirm Richard Cordray so the CFPB can get on with its important work. The confirmation of Mr. Cordray will begin to level the playing field and guarantee every consumer fair treatment.
Today in Washington a great battle is unfolding between Republicans preparing to filibuster the nomination of Richard Cordray to lead the new consumer protection agency and Senator Elizabeth Warren (D-Mass.), who is battling to save the agency from these Republican attacks.
Consumer advocate and newly elected U.S. Senator Elizabeth Warren should oppose the nomination of Richard Cordray to head the Consumer Financial Protection Bureau.
This is not what has happened to banks who knowingly sold bad mortgages to people who could not afford them, then sold them off to investors in the market bundled into AAA rated securities. So, why is criminal court off the table in the financial sector?
The CFPB, charged by law to protect consumers, has an equally important role to protect honest businesses. Mr. Cordray has repeatedly emphasized the value honest businesses accrue when dishonest businesses are driven out of the marketplace. He has made good on his promise.
What is striking about the DC Circuit opinion is not its bottom line, but the scope of its reasoning. Despite a pretense of constitutional modesty, the court decided the Recess Appointments issue on the broadest possible ground.
I hate to say it, because I wasn't a fan, but this never would have happened under George W. Bush. There was a president who got what he wanted.