While we were away on the holiday break, President Obama used his constitutional authority to appoint Richard Cordray as the director of the new Consumer Financial Protection Bureau (CFPB). Senate Republicans — who not only promised not to confirm Cordray, but also promised not to confirm anyone to the position — expressed the requisite outrage.
There are certainly some questions about the degree to which the Senate’s pro forma sessions permitted (or did not permit) President Obama to exercise his interim appointment authority. But there’s an even bigger question, here.
Why did he have to resort to an interim appointment? [Read more…] about Richard Cordray Is the Latest Symptom