Archive for Consumer Protection Bureau

On the GOP, Obama and the Class War

Posted in Playthell on politics with tags , on January 6, 2012 by playthell
President Obama Appoints Richard Cordray

 It’s Time For OWS Activist to Target the Class Enemy

President Obama’s recess appointment of former Ohio Attorney General, Richard Cordray, to fill the long vacant post as Director of the newly minted Consumer Financial Protection Bureau, forces the Republicans to take a stand for or against the interests of the majority of working Americans.

The President was forced to make this appointment when the Senate was in only partially in recess because the minority in the Grand Obstructionist Party has relentlessly employed the Filibuster to block the appointment of a Director for this agency. They are viscerally opposed to its regulatory function; which is to protect American consumers from predatory financial institutions that are not regulated under banking laws.  Hence they are determined to cripple the bureau’s ability to function.

Yet there is a mountain of evidence showing that many Americans – especially the elderly – have come to financial ruin due to the unethical but entirely legal practices of these usurious businesses. The new laws passed by the Democrats and signed  by President Obama makes these practices illegal and the CFPB is tasked with enforcing these new regulations.

This is walking the walk, not just talking the talk about protecting the American consumer from financial fraud that could prove ruinous.  One need only listen to the denunciations of the president’s appointment from the leading candidates for the Republican nomination, as well as congressional leaders, in order to clearly determine where each party stands.

John Boehner, “The House Weeper,” cried “”This is an extraordinary and entirely unprecedented power grab by President Obama.”  And he despaired that the President’s appointment “would have a devastating effect on the checks and balances of the Constitution.” Mitch McConnell, a shameless hypocrite and unreconstructed southern redneck, whines: “This is an extraordinary and entirely unprecedented power grab by the President.”

The fact is that President Obama has less than half the number of recess appointments as George Bush at this point in his presidency, and FDR made 160 appointments in a day!  Since the Republicans are blocking over 200 of the President’s appointments some observers, this writer included, think he should have appointed them all!

The comments of Republicans seeking to become their party’s presidential nominee are just as silly and hypocritical as the Congressional leaders and need not be reiterated here! There is no shame in their game, after all Mitch has been leading the effort to block the President’s appointments to critical agencies – especially those that protect the interests of working people like the National Labor Relations Board and the Consumer Financial Protection Agency.  The GOP has used the pretense of being in session to prevent the President from making recess appointments, but Barack has outfoxed them.

The President  beat the Republicans down and appointed his people to both institutions.  Aside from Richard Cordray he appointed three pro-labor people to the National Labor Relations board, reversing the Republican trend of stacking the board with anti-labor people.  “When Congress refuses to act, and as a result, hurts our economy and puts our people at risk,” he told a cheering crowd in Cleveland Ohio, Cordray’s home state,  “then I have an obligation as president to do what I can without them.  I’ve got an obligation to act on behalf of the American people. And I’m not going to stand by while a minority in the Senate puts party ideology ahead of people that we were elected to serve.”

The President layed out the role of the new Director in no uncertain terms, and they are so clearly in the interests of the overwhelming majority of the American people that opposing them will be like coming out against mothers milk!  “His job will be to make sure you’ve got all the information you need to make important financial decisions.” the President said of Mr. Cordray.  “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.”

After this beat down the Republicans are whining and crying foul like all bullies when you smack them in the face.  President Obama welcomes Republican efforts to obstruct the business of the CFPB, because it will make it clear to everyone who is not hobbled by ignorance, jaded by financial interests, or blinded by ideology, which party stands with the people and protects the public interests, and which party is a shill for the plutocrats and other special financial interests.

The present struggle will answer this question so clearly that even the OWS militants who, if we are to believe their rhetoric, apparently believe the Democrats and Republicans are the same, can recognize the difference.  A difference they must concede and take sides in this raging class war, if the ant-Wall Street movement is to amount to anything more than a series of boisterous protests where people huff and puff… but fail to blow down any walls!

 The Class Enemy!

Hides his Money like a Dope Dealer

***************

Playthell Benjamin

Janurary 6, 2012

Harlem, New York

 

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