CFPB

In January the President sidestepped Republican obstruction and made "recess appointments" to the Consumer Financial Protection Bureau (CFPB) the National Labor Relations Board (NLRB). This was because Senate Republicans were blocking all nominations more »

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Republicans were blocking National Labor Relations Board and Consumer Financial Protection Bureau nominees to keep these agencies from doing their jobs under the law, in exchange for a cut of the take. Obama made recess appointments to get them up and operating. Now Republicans are trying to defund the agencies.

NLRB and CFPB Protect Public And Legitimate Businesses more »

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After years of conciliation and one-way "bipartisanship," with Republicans refusing to meet even partway, the President got fed up. The President is finally taking the necessary steps to get the government up and running, doing government's job of protecting citizens from the exploitation by the wealthy and powerful. more »

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President Obama moved an obstructing GOP out of the way earlier today, announcing that he was making a recess appointment to get the Consumer Financial Protection Bureau (CFPB) up and running. Later, the White House announced he is doing the same to get the National Labor Relations Board (NLRB) up and running again as well. more »

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Psst! Hey, you! Yeah, you, in the expensive suit. Listen, Mr. Banker, are you worried that a little oversight and enforcement might be bad for business? I hear ya. I really do. But listen ... hey, come a little closer, pal. I won't bite ya! I got an offer and I don't want to shout it.

What you need is somebody who can fix this problem for ya. Permanent-like, if you catch my drift. And I think you do. You don't have to get your hands dirty, neither. I know a guy who knows a guy ... in fact, he knows a lot of guys.

Here's his number. He'll handle it real discreet-like. I know, I know. You don't want your name drawn into this. You like giving those interviews where you play the wise statesman and complain that people aren't nice enough to folks like you.

No, no, that's not how you say it! It's spelled B-O-E-H-N-E-R, but it's pronounced "Bay-ner." He'll be waiting for ya on K Street. Can't miss him: Orange tan. Cries a lot. Likeable as all get-out. Even the Big Guy says he can "do business with him."

Don't worry, pal. Johnny'll get the heat off your back before ya even know it. I know the right folks. We got that Warren lady outta the way this week, right? Now as for that little "bureau" of hers - well, stuff happens, right? There could be a fire, maybe, or an accident. Or maybe some kinda new law, I dunno. Johnny'll think of something.

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Elizabeth Warren's well-heeled opponents have behaved ... well, like heels. The Washington/Wall Street axis prevented her from becoming the first director of the Consumer Financial Protection Bureau, but they may regret it someday. Washington has lost the best person for the job, but hopefully the country has gained an independent voice for real financial reform.

She clearly was the best choice. As a forceful and articulate advocate for consumers, Warren was best positioned to give it clout and meaning. The CFPB was her brain child, and the country owes her a debt of thanks for shepherding it this far. Her non-appointment is a loss for the public and a win for the banks.

But she can thank her opponents for a newfound freedom to speak candidly. Among her other laudable qualities, she's clearly a good soldier. That's presumably why she hasn't spoken up on topics like the lack of bank prosecutions, or the proposed mortgage settlement that would let banks escape their financial and moral responsibilities yet again. Hopefully she'll use her newly-won independence and her increased visibility to resume her role as an independent voice for reform, and as a critic of unnecessary compromise wherever it appears. more »

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While hosting The Young Turks this week we covered the latest interrogation of Elizabeth Warren by House Republicans, who are determined to make sure that she -- and the bureau charged with protecting consumer from bank ripoffs - are discredited.  

The headline for this piece should be "Elizabeth Warren Listens to Ludicrous Republican StatementsWhile Maintaining Straight Face."  It was really impressive of her to maintain her composure as long as she did, and we couldn't help picturing a thought balloon above her head as she half-suppressed a smile.  

Here's the video of her Capitol Hill appearance, along with our introduction and commentary:

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The post-bin Laden afterglow is fading. Those video clips of his home movies seem like scenes from a reality show, not glimpses of an Existential Threat. It's the master terrorist as an addled Ozzy Osbourne, minus the Beverly Hills couturiers and groomers. And while a few people might wait for bin Laden to sing Ozzy's "Iron Man" -- "Nobody wants him/he just stares at the world, planning his vengeance" -- our attention-deficit nation is getting ready to move on.

Significantly, while the President's overall approval rating jumped 11 percent after the killing, his economic approval fell and reached a new low: Only 34 percent approved of his handling of the economy, while 55 percent disapproved.

People were happy to see 9/11 avenged, but there's another lesson in that 11% boost, too: The public wants its President to be clear-eyed, resolute, and able to make tough decisions under pressure. We know now that the President can be (and just as importantly, can appear to be) as steely-eyed and decisive as the best of them.

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Somebody said that regulators need real power in order to be tough and effective. He said a strong, independent consumer protection agency is needed to help prevent the next financial crisis. And that we should help the millions of "responsible" homeowners hurt by the crash, instead of demonizing them. more »

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A rather nauseating statement from a Government Accountability Office report on foreclosures: more »

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