A GOP Tyranny of the Minority: The ‘New Nullification Crisis’
Posted by AzBlueMeanie:
A little more than a week after Senate Democrats decided not to weaken the filibuster,
Republicans are vowing to filibuster President Barack Obama's nominee
to head the Consumer Financial Protection Bureau unless its powers are substantially
reduced. So how's that filibuster deal working out for you, Harry Reid? GOP to Filibuster Obama's Consumer Watchdog Pick:
The CFPB was created as part of the 2010 financial regulation bill
specifically to prevent financial institutions from engaging in the kind
of exploitative practices that helped lead the country to the brink of
economic collapse in 2008. Since January 2012, when Obama appointed
former Ohio attorney general Richard Cordray to head the bureau, it
has done exactly that—reigning in unscrupulous mortgage lenders, credit card companies, and debt servicers.
But the CFPB has only been able to do those things because Obama, using
what's called a recess appointment, installed Cordray in his post while
most of Congress was on vacation—an attempt to bypass Senate
Republicans' efforts to block the nomination. Before Cordray was picked
and blocked, Republicans had vowed to filibuster Elizabeth
Warren, who came up with the idea for the bureau and helped found it,
too. That didn't go as well as they had hoped: Warren recently returned
to the chamber as the new Democratic Senator from Massachusetts.