Heads-Up: President Obama nominates Richard Cordray as the first Director of the Consumer Financial Protection Bureau

At 1:05 ET here.

Elizabeth Warren is selling out by saying all kinds of great things about Mr. Cordray. I’m quite sure that PBO forced her to do it.

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134 thoughts on “Heads-Up: President Obama nominates Richard Cordray as the first Director of the Consumer Financial Protection Bureau

  1. It will be interesting if the President mentions that 44 GOP Senators has already pledged to block him because they want to re-write the legislation that was passed last year and weaken it for their bankster friends.

  2. GOP block PBO appointments because it would help average americans…….what else is new?

    I hope the GOP goes down in flames 2012.

  3. thank you Ms. BWD for the reminder.. will pass it on.

    Your comment here: I’m quite sure that PBO forced her to do it.

    cracked me up.. as that line always reminds me of the goon, Slinkerwink’s remarks way back a couple years ago, when she famously wrote that President Obama MADE Teddy Kennedy’s wife, Vicky write her op-ed supporting the healthcare bill…

    so thanks for the chuckle too ;)

  4. Sometimes I think I’m the only one, but I have never warmed up to Elizabeth Warren, don’t trust her, she’s way too self-serving, and I think the President has made a couple of great choices here. The first was getting her involved initially, thus “holding close” her remarks; the second was picking someone else to head this new organization. My take; please forgive my lack of graciousness toward EW, especially since I realize others may strongly disagree.

  5. I am hoping, wishing and praying that Elizabeth Warren runs for the senate in MA in 2012.

    If she does, Scott Brown will be toast.

  6. I don’t think President Obama forced Warren to say anything. She don’t seem the kind of woman to go along to get along. I’ve been reading that she turned the position down, because she didn’t want to deal with congress. They would give her hell. And someone have the word out that she is going to run for the Senate, for Ted Kennedy’s old seat. Who knows. But this person seems ok, from what I have been reading so far. If he can get confirmed.

  7. I just turned on MSNBC to watch the news conference. Before I put it on mute Andrea Mitchell said she would be having Elizabeth Warren on after the President speaks. It will be interesting to hear what she has to say. And what Andrea will ask. I don’t usually watch but I will this time.

  8. Don’t tell them that little tidbit about Warren having no interest in being the day to day administrator. She made that clear from the beginning. That would only upset the whining narrative they”re working on.

  9. Loving every minutes of the Murdoch’s empire crumbling down.

    Oh, I can’t wait for tomorrow.

    The opposition, are just making David Cameron sweat.

  10. When Warren was first asked to set up this bureau, she said she would be happy to do that and even help find a chairperson to run it. She was NOT interested in that position. She is a law professor at Harvard, which I’m sure is much more fun than facing the constant investigations and rude GOP committee members who constantly want to interrogate her. The goal of this bureau is to regulate and investigate all those GOP-leaning corporations that don’t want to be regulated and investigated. She has become the target of those GOP members that are in the pockets and do the bidding of said corporations….plus she’s a female….and we know how the GOP love to attack women.

  11. I don’t know how you could possibly call her self-serving given it has been her cause basically for her professional career writing more than 100 scholarly articles and six academic books on the subject. Because she makes money off the subject teaching and writing about it that it’s self-serving? Because she’s widely respected expert on the matters and thus is a public figure on it?

  12. She had been treated very rudely when in front of Congress the last couple of times. However I don’t know if she’d then be ready for the 15 month campaign trail and the attacks that will come with it either. Brown and Rove will come at her hard with character attacks and dig through her personal life playing up any silly rumor they can get somebody to repeat.

    However maybe in Massachusetts she thinks she’d have an easier ride since it is so blue and virtually every big newspaper has written positively about her in the past.

  13. Yes, I really want to see what she has to say. Thanks Marilyn for the heads up.

  14. Unfortunately they parliament is on vacation/recess after Wednesday for awhile. Session was supposed to end Tuesday, but Cameron called them to stay an extra day so he can address them on the issue.

  15. Thanks mtmarilyn,

    I “don’t care” for Mrs. A. Greenspan…

    But, I would like to hear Warren!

    Of course, there probably will be a vid clip! ;)

    YES.WE.CAN…DO.(Much)More, Together!

  16. Oh, it hardly seems in character for Elizabeth to be pressured into anything, even by PBO. I beleive she’ll be very much “around”, maybe as a consultant? That might give her more latitude for action than being Director! She has done a magnificent job of setting up this agency; i think it’s probably able to function well with this director.

  17. How can you say that Elizabeth Warren is selling out. She set up this bureau, she has been a champion of justice for all of us in the field of consumer protection and now a man has been chosen to be the director of the Consumer Financial Protection Bureau. Clearly, Elizabeth Warren should have been nominated to assume this position.
    Shame, shame, shame!

  18. I disagree. Warren is great and Obama knows this. The unfortunate part is that Warren is hated by republicans and it would have been very difficult for her to get the position. He picked a more in the middle of the road person as he had little choice in the matter.

  19. Elizabeth is on Andrea Mitchell right now. She stated fully she did not want to be head of the agency. She recruited Corday.

  20. Apparently not’. Maybe that is why I have some problems with people? Lol!
    Or, maybe he should have nominated Jane hamster, as she said on cspan this morning that the rethuglicans want a clean debt ceiling increase and the president wants cuts!

    She is immensely talented. One of the best of all time!

  21. PBHO was/is great!

    I loved his speech…

    He “slammed” Congressional members w/their lobbyists and special interests tryin’ to “water down” the ‘Dodd/Frank’ legislation!

    GO Prez GO! :grin:

    YES.WE.CAN…DO.(Much)More, Together!
    YES.WE.CAN, Again…Obama/Biden 2012!
    I’M IN…FIRED UP & GOIN’! ;)

  22. Yep I’m glad she said that – POTUS stated it in his speech just now that Cordray was one of Warren’t FIRST recruits.. so obviously she has had a huge hand in choosing the person best able to run this. Of course that won’t stop the PL from fussing.

  23. Elizabeth Warren just talked to Andrea. She didn’t say she wouldn’t run, just that she needs a rest right now. We will see.

  24. Very true…

    If PBHO is for it, they’re against it! lol

    YES.WE.CAN…DO.(Much)More, Together!
    YES.WE.CAN, Again…Obama/Biden 2012!
    I’M IN…FIRED UP & GOIN’! ;)

  25. I loved Flip Wilson. He was so funny. Thanks for the video. Sure brought a smile to my face.

  26. I think (not 100% sure) that a recess appointment cannot be made unless a person is first nominated … So in light of GOP blockade, I would expect Cordray to be recess-appointed during the August recess. They can’t hold pro forma sessions for a whole month … ????

  27. I agree that Elizabeth Warren is competent and impressive, but I had thought she did not want the position, and had agreed to only commit for a year. Am I wrong about this? If not, what’s the fuss? I remember the frustrati exploding about Howard Dean leaving the DNC, but I do remember clearly that he stated he only planned to be a one-term head right at the beginning of his term.

  28. Your prayer or hopes may be answered soon! See this:

    Warren will think about Senate race at home
    Consumer advocate and liberal heroine Elizabeth Warren did her best to sidestep questions about a potential Massachusetts Senate candidacy Monday.

    But a parsing of her words made clear she’s contemplating it.

    After standing beside the president during his appointment of Richard Cordray to lead the Consumer Financial Protection Bureau, Warren told MSNBC’s Andrea Mitchell she would think about waging a challenge to freshman Sen. Scott Brown from her home in Massachusetts.

    “Massachusetts does beckon, in that it’s my home,” Warren said when asked about the prospect of a campaign. “I need to do that thinking from home . . . not from Washington.”

  29. Or, maybe he should have nominated Jane hamster, as she said on cspan this morning that the rethuglicans want a clean debt ceiling increase and the president wants cuts!

    OMG

    Please tell me you are kidding and she did not really say this.

  30. Thanks BWD: It is a great choice and since when is the PL going to tell PBO who to choose for the job?. But wait, wait the Pl would like us to believe tha PBO is a sell out LOL.
    I think Elizabeth Warren will remain as An Assistant to the President? Of course the GOP will block anything or anybody the PBO appoints, the GOP give me the CRIPS>

  31. Jay Carney calls the Republican Cut, Cap and Balance bill the Duck, Dodge, and Dismantle bill. Spread it. use hashtag #duckdodgedismantle if you like or create a new one.

  32. Sorry. Totally disagree. Totally. She is anything BUT self serving. I’m curious how you came to think that….have you seen her speak on issues of the middle class? I respectfully think that you should before you make a statement like that. This woman is like Superwoman in her passion to ease the burdens that effect the mc….from all the “tricks and traps” of banks and corporations that could care less. I think you should check her writings out/watch some videos on TED…and I think you will see that your feelings are not based in reality. Just a suggestion.

  33. :) She IS immensely talented. FOR A LIAR AND A THIEF! perfect,jovie…and I know snarky when I see it!

  34. Fabulous. Have to tell you..the Tea Party is having a Twitter town Hall tomorrow!!!! Yea!!! PARTY!PARTY!PARTY! Let me get the link, and you too, can tweet some intelligent questions in 140 characters or less! Not televised like PBO did…I mean Tweeting back and forth!

  35. I knew it wouldn’t take them long to copycat the President. Sheesh! Don’t they have ideas of their own?

  36. People so short of brains surely have no room for ideas. I think you Tweeters should ask some intelligent questions. That would REALLY throw them for a loop. And follow the conversation…should be enlightening!

  37. df, that’s on a Wednesday not a Tuesday…

    Today is Monday (18/Jul)! ;)

    Slow down, girlfriend, you’re movin’ too fast! :smile:

    YES.WE.CAN…DO.(Much)More, Together!
    YES.WE.CAN, Again…Obama/Biden 2012!
    I’M IN…FIRED UP & GOIN’! ;)

  38. Hey there Ms. Desertflower.. thank you for missing me ;) I’ve had wierd computer problems off and on for about a month- so have been very sporadic in my commenting… all is well now- it turned out to be my internet provider.

    good to see you too and I hope all is well?

  39. She is wonder woman. She is amazing. No wonder PBO likes her so much. I pray that she will run to congress. She will kick that porn star naked butt.

  40. Faith, for a minute there I thought you meant there had been a pie fight here. I knew I’d had a lot of greyhounds while watching the World Cup final, but I didn’t think I’d missed an entire pie fight! Yes, excellent article

  41. Okay, maybe don’t link. A down thread comment says these provisions that the diary is based on may have been from earlier versions of the bill and not the bill as passed. Waiting to hear…….

  42. I am certain he will. We’ll need to pay attention I think and be sure to have his back by go after Congress if/when they try to block Mr. Cordray.

  43. Oh dear, NO> Over where the cherries and applies fly freely! I was unclear. I hate the black screen I work on here at the office. O

  44. Oh my God, Chris van Hollen was BRILLIANT on this on MSNBC earlier today. Message was clear and passionate and points the finger at the reason for our problems.

    You know, I think we all remember what a strong supporter Debbie Wasserman-Schultz was for Hillary. But the minute Obama got the nomination she was on board. That’s how a party grows systematically.

    Messaging has been phenomenal.

  45. But, but, but, didn’t the MSM and the republicans declare PBO’s Twitter Town hall a major failure? Why would anyone/group want to follow in the footsteps of a person who he/she//it has stated publicly is a failure and has hosted a failed endeavor? The shameless lying and hypocrisy that is rampant in the TP and GOP is truly stunning. If anyone would ask the TP about stealing this idea from PBO, its spokespersons would say it’s an “original” idea, and PBO “stole” the idea from them. If the TP thinks it will get tens of thousands of new followers on Twitter like PBO did, its members need to think again. I’m thinking the reason the TP Town hall on Twitter won’t be televised is because the aides will be doing the tweeting. I NEVER believed that Senator Hatch sent a tweet to PBO when he had his Twitter Town Hall. LOL

  46. As I posted on the Great Orange Satin, give or take a few vowels, all those “Obama throws Elizabeth Warren under a bus/taxi/skateboard/Tonka truck” diaries are adding to the methane cloud melting our polar icecaps.

  47. Reid should cancel the August recess to deal with the backlog of blocked Obama nominees. Every last one gets a floor vote before they go home for the month(or whats ever left of it).

  48. Glad that the internet was all it was. Great to see you back here again:)

  49. Lol, I think budget cuts is coming to Fox News…News Corp lost 19% in stock shares since the scandal that is 10 billion dollars.

  50. DUN!DUN!DUN! Queue the scary music….I hope they all find themselves without jobs. Normally, I wouldn’t wish that on anyone, but the way I see it…they are all toxic liars that won’t be missed. Not like they’re throwing seasoned journalists on the street. Karma’s a bitch sometimes.

  51. I’ll go and rec it. I only keep my account there to rec Eclectablog and TiMT and afew others I know. I really don’t like to go there.

  52. I saw Elizabeth Warren interviewed on Jon Stewart’s show several months ago. It was right after we heard more outrage from Democrats saying Obama had appointed someone else instead of Elizabeth Warren to, I think, the same position.

    John Stewart asked how she felt about that.

    Elizabeth Warren said the president offered her two choices. He could appoint her head of the agency, and she would have to go through the Congressional approval process and not be able to go to work for several months. Or he could appoint her to something like second-in-command and she could go work immediately.

    She told him she wanted to go to work immediately, and that’s what she did. She made it clear it was her choice.

    I’m sure this is her choice, too, whether to avoid all those nasty people in Congress were simply be able to keep her head down to do the work she wants to do right now.

  53. From the BBC: News Corp shares fall as pressure grows.

    And this would be delicious:

    Analysts say the events of the past few days have caused major damage to the company, as 19% of its total value has evaporated.

    “You’re now looking at [about] $10bn wiped off the value since the peak,” said Stephen Mayne, director of the Australian Shareholders’ Association.

    Mr Mayne also said that independent directors at the firm have been discussing a change in leadership.

    “The shareholder pressure, particularly today’s tumultuous fall on Australian markets after the amazing developments over the weekend, is clearly showing that this is a gathering storm,” he said.

    Rupie shown the door with a gold watch. Schadenfreude: it’s not just for breakfast.

  54. Was that great or what! Even though I was a bit sad about our own team losing, I couldn’t help but be thrilled for Japan. They needed something like this to help boost morale.

  55. Yeah, wouldn’t that be just desserts..with the rw and the professional whiners both sucking furiously on their thumbs.

  56. Oh, no, dear BWD> Obama didn’t force Elizabeth Warren to have that glow on her face when she listened to him. It’s because he mesmerized her, hypnotized her. That’s how Steve King thinks Obama does it.

  57. GREAT! I wish I could go rec that but I can’t log on there anymore and don’t visit the site cause I won’t give them the clicks. Consider yourself rec’ced by me 100X from TOAITR!

  58. And the sound you hear is Republican heads exploding. How can they turn this into a negative?

    What’s putting a big ol’ smile on my face is that Dems and Obama are finally filling the background noise with our truths. Republicans are cruel bastards who would torch the country if it meant they could defeat Obama.

    So if they get pissy and stupid they are just playing into the background noise that says, “If Obama does it, Republicans think it’s bad.”

  59. And here’s the latest in our occasional series, Libya Updates. Thanks to Twitterers @carolv27 and @al_omari.

    1. The revolutionary fighters have liberated most areas of the oil city of Brega. They have surrounded the entire city that has the main oil export harbor, an oil refinery, and a chemical factory.

    2. The revolutionary fighters are now in full control of the eastern side of Brega and have secured it.

    3. The revolutionary fighters are still cleaning the other parts of Brega from mines and left over Gaddafi forces to secure the entire city. The mines are deployed in the several areas of Brega, its desert suburbs, and its oil production structures.

    4. Most of Gaddafi forces that were in Brega have passed Brega in its way to Bishr and Aqilah, and from there to Ras Lanouf.

    5. Gaddafi forces have deployed some 4WD cars equipped with automatic weapons between Ras Lanouf and Bisht.

    6. The land mines caused more casualties among the revolutionary fighters than the casualties caused by the artillery and missiles launched by Gaddafi forces.

    7. The total casualties of revolutionary fighters are 10 killed and 175 wounded on Saturday and 2 killed and 120 wounded on Sunday.

    8. In Misrata, at least 23 of the revolutionary fighters were wounded in clashes with Gaddafi forces near the city.

    9. Gaddafi forces bombed the Tuesday Market which is near the downtown the city of Zleitan west of Misrata.

    10. NATO Planes bombed several places in Tripoli including ammunition storage in Tajura in the eastern part of Tripoli.

    11. Russia refused to recognize NTC as a legitimate representative of the Libyans but recognized it as a legitimate negotiating side. Russia’s foreign minister said that the countries that rushed into recognizing NTC as a legitimate government are taking sides in the ongoing “civil war” as he called it.

    12. Russia also said it has no intention of arming Gaddafi forces since that would be a violation of the UN Security Council Resolution 1973 that banned arming both sides. It said that they are now discussing the violation by France that dropped weapons to the revolutionary fighters from the air in the Western Mountain.

    13. In the US, officials said that the increasing diplomatic recognition of NTC is an essential step in releasing the $34 billion of Libyan assets that are frozen in the US banks and the more than $168 billion of Libyan assets abroad. This will cover the urgent needs of NTC and the needs of the areas under the control of NTC especially with the month of Ramadan approaching.

    14. Malta’s foreign minister and vice prime minister discussed with Mustafa Abdul-Jalil, head of NTC, about the means of transferring the frozen assets in Malta to the Libyan people. He added that Malta will soon release the frozen assets to the Libyan people. He added that Malta does have frozen Libyan assets and frozen personal bank accounts for government officials and are now looking for means of returning these assets to the Libyan people.

    15. The Financial Times newspaper reported that Britain requested the US to intensify its support to NATO forces in Libya in the midst of increasing doubts about the completion of the military mission against Gaddafi and his forces.

    16. Britain asked the US to send more surveillance, intelligence, and monitoring equipment as well as air fueling equipment. Britain is waiting for a response from the US.

    17. The Obama administration will have to choose between letting down its NATO allies in Libya and angering the US Congress that is increasing its doubts about the struggle in Libya.

  60. No problem TD. If you like that little video produced by the NY Times, you will love the link below. For any one that can carve out about an hour of your time, you will have yet another reason to admire this amazing woman. And you will learn a lot about how we got to the crisis we face today.

    I really like the beginning of the lecture because she talks a lot about her family, law school and how she decided to focus on the middle class. She has a delightful personality and she is very witty. Cracks jokes, very animated. She is my hero. I have difficulty putting into words how much I love her.

    Elizabeth Warren: Fixing the Banks, Lifting the Middle Class

    February 2011

  61. And more good news: the language cited by the diarist IS in the final bill.

    The person who asked the question googled OPM and Public Option. the first item was an article by the Heritage Foundation virtually confirming everything the diarist said, and saying how awful it was because it would push out private insurance.

    And now, everyone sit down: the person who questioned whether this ‘stelth’ public option was in the final bill said he was wrong and the diarist was righ

  62. Is that the TED video? I have to say, if it is…it’s well worth the time to watch…grab a drink and just marvel at the wonder that is Prof. Warren. She is sent by angels to do good on this earth.

  63. sure is turning out to be a pretty good Monday!!! Thanks for that news.

  64. This was a particularly bizarre interview by Chris Matthews with Steve King. It was particularly loony, even by King standards.

  65. See, I don’t necessarily think it would be a bad thing if Obama went to Congress. I would love to see Republicans on record supporting Gadaffi.

    Their policies create deficits that they are unwilling to do anything about. They support a dictator like Gadaffi, against anything Republicans have done in the past.

    Put them on record.

  66. She’s blunt.

    Frankly, I don’t think she has a political bone in her body. And although we’d probably love her as a Senator, I don’t see that she has the political skills to be a good candidate.

  67. It was sarcasm. Which is sometimes hard to pull off when you’re writing a reply.

  68. Frankly, I like his prosecutorial background. he’s used to dealing with these bastards legally. I think that’s a major plus (if he can get confirmed.

  69. No, this lecture is from the Chicago Humanities Festival. She is interviewed by Jonathan Alter at the end. And she tells a really cute story about her first encounter with Barack Obama. Way back then, he had an issue with “predatory lending”.

  70. I think she will challenge Scott Brown; and, she will win. She would be formidable in the Senate.

  71. Thought it was kinda funny when Obama noted his Jeopardy creds and that he would be answering in the form of a question during confirmation process. Even funnier when he had to add, “That’s a joke.”
    I have a son in law who is waiting to be called for Jeopardy having passed thru the initial process. My youngest daughter, his wife, kinda jokingly said all hopes are with him now since she didn’t make it through The Voice tryouts in Chgo this past weekend. Those judges made a huge mistake, said me, her mommy, a very objective source. :)

  72. utaustinliberal posted over at The Obama Diary that Elizabeth Warren will be on The Rachel Maddow Show. I am leaving so I was able to DVR it. Will be interesting to see what she has to say.

  73. More news on News Corp, courtesy of the NYT

    –Murdoch Aides Long Tried to Blunt Scandal Over Hacking–

    …..”Interviews with dozens of current and former News Corporation employees and others involved in the multiple hacking inquiries provide an inside view of how a small group of executives pursued strategies for years that had the effect of obscuring the extent of wrongdoing in the newsroom of Britain’s best-selling tabloid. And once the hacking scandal escalated, they scrambled in vain to quarantine the damage.

    Evidence indicating that The News of the World paid police for information was not handed over to the authorities for four years. Its parent company paid hefty sums to those who threatened legal action, on condition of silence.”

    http://www.nytimes.com/2011/07/19/world/europe/19tactics.html?_r=1&nl=afternoonupdate&emc=aua2

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

    Lawdy, lawdy.

  74. What an excellent clip! I love the sarcasm! Of course, PBO is called a d*** whenever he displays such a spirit.

  75. I “LOVE” it…

    Let’s #duckdodgedismantle ‘em, while WE are VOTin’ ‘EM OUT and/or REPEALin’/IMPEACHin’ & REPLACin’ ‘EM! :lol:

    GO Carney GO! :grin:

    YES.WE.CAN…DO.(Much)More, Together!
    YES.WE.CAN, Again…Obama/Biden 2012!
    I’M IN…FIRED UP & GOIN’! ;)

  76. Thank you so much Ladyhawke for sharing this video! Elizabeth Warren is simply amazing. She may not be the first Chair, but she performed the most important part: setting up the agency. The fact that President Obama entrusted her with that responsibility is very clear evidence for me about his commitment to protect consumers from predatory lending. The people in the PL are very predictable. Like the teabag-Republicans, they attack everything Obama does. I am glad people at this site, and other progressive sites, are effectively exposing their lies

    I hope Elizabeth Warren reconsiders and runs for the Senate in Massachusetts. In the Senate she could be the most effective voice in protecting the consumers by explaining the role of the new agency.

  77. Don’t sell Elizabeth Warren short. Noboby forces her to do anything she doesn’t want to do. I think she’d make one heck of a senator and wouldn’t have to waste months of her life trying to get confirmed to a job ervryone but the idiots on her committee knew full well she could do. Did you see how she was treated by her “interrogators” of a few weeks ago? Who needs it? President Obama made a wise choice and Elizabeth Warren chose her successor. She is one classy lady. Don’t dirty it up with your cynicism.

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