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Waters + Watt on GOP Obstructing Consumer Protection Chief

Reps. Maxine Waters and Mel Watt spoke yesterday on President Obama’s nominee Richard Cordray to be Director of the Consumer Financial Protection Bureau.  Both Watt and Waters worked to get the Consumer Financial Protection Bureau into Dodd/Frank after the “too big to fail” banking industry successfully crashed the economy and caused a recession — requiring them to be bailed out to the tune of 800 billion dollars.  Congressional Republicans — specifically Sen. Richard Shelby of Alabama — are holding up the nomination in another attempt to stifle Dodd/Frank and regulatory powers.  Why? Because big business doesn’t want a Consumer Financial Protection Bureau. Period.