Wednesday, March 13, 2013

Elizabeth Warren blasts Republicans in Cordray hearing

That's the senator we helped elect, and that's precisely why we helped her. Elizabeth Warren is already shining on the Senate Banking Committee, grilling bank regulators again and again over their dereliction of duty in enforcing laws and regulations.

This time, though, Senate Republicans are the deserving target of her stinging rebuke.

"I see nothing here but a filibuster threat against Director Cordray as an attempt to weaken the consumer agency," Warren said. "I think the delay in getting him confirmed is bad for consumers, it's bad for small banks, bad for credit unions, for anyone trying to offer an honest product in an honest market."

"The American people deserve a Congress that worries less about helping big banks," she added, "and more about helping regular people who have been cheated on mortgages, on credit cards, on student loans and on credit reports."

No fake comity from Warren for the Republicans, which is pretty damned refreshing. She's calling them out directly for doing what no opposition party has ever done before: Trying to force an agency to be restructured by filibustering its director, and for doing it to protect the big banks instead of the American people.

The Senate Banking Committee, and the Senate, might never be the same. And that's a very good thing.

Sign the petition urging the Senate to let Richard Cordray's nomination for Director of the Consumer Financial Protection Bureau go to a yes-or-no vote.

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