Archive for December 9th, 2011

December 9, 2011

How and Why the GOP is sabotaging Consumer Protection Agency

Ian Millhiser, Center for American Progress joins Thom Hartmann. Tonight – people who need a new loan – people who are signing a new credit card contract – and people who are are opening up a new checking account – still don’t have anyone on their side making sure they’re not getting screwed over by banksters. That’s becasue – once again – Senate Republicans filibustered President Obama’s nominee, Richard Cordray, to head up the newly-created Consumer Financial Protection Bureau. Cordray got a majority of Senators to back him – but Democrats couldn’t get the 60 votes needed to overcome a near-unanimous Republican filibuster. Senator Scott Brown from Massachusetts was the only Republican to approve Cordray – and that’s probably because a new poll shows Brown losing 7 points to Elizabeth Warren – the person who created the Consumer Financial Protection Bureau. So what exactly is the beef that Republicans have with Cordray and with consumer financial protections in the first place?