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Latest Richard Cordray Items
The Justice Department reversed course Thursday and backed President Obama's move last week to use his recess appointment power to install four top officials.
Back in 1973, when the Nixon administration was under fire for Watergate, Press Secretary Ron Ziegle
Back in 1973, when the Nixon administration was under fire for Watergate, Press Secretary Ron Ziegler uttered an unforgettable response when caught in a lie during a news conference: "This is the operative statement. The other statements are now inoperable."
Back in 1973, when the Nixon administration was under fire for Watergate, Press Secretary Ron Ziegler uttered an unforgettable response when caught in a lie during a news conference: "This is the operative statement. The others are inoperative."
On Wednesday, President Obama infuriated Republicans and threatened to spark a constitutional crisis when he announced he would make four recess appointments during a "pro forma" session of Congress. A pro forma session occurs when Congress "gavels in and gavels out" every three days but is not technically on recess.
A new independent study says Republican Mitt Romney's tax plan would increase taxes on low-income families while cutting taxes for the middle-class and the rich.
The White House says it doesn't fear potential lawsuits challenging President Obama's controversial appointments while the Senate is on break, as Republican lawmakers and presidential hopefuls blasted the move as unconstitutional.
Richard Cordray started his new job on Thursday as director of the Consumer Financial Protection Bureau (CFPB). Though he may wear that fancy new title, he lacks the statutory power and constitutional authority of the office. On Wednesday, after the Senate adjourned for one day, President Obama unilaterally installed Mr. Cordray to the CFPB and added three members to the National Labor Relations Board (NLRB), claiming these were "recess appointments" even though the Senate was in pro-forma session, not recess.
President Obama used his recess appointment powers Wednesday to name a head for the controversial Consumer Financial Protection Bureau and three new members to the National Labor Relations Board — moves Republican lawmakers said amounted to an unconstitutional power grab.
With its first chief now in place, the new Consumer Financial Protection Bureau will start enforcing rules aimed at reining in abusive mortgage servicers, student lenders and payday-loan companies.