Will Sen. Rob Portman ‘Pull a Stupak’ and Cave on New Consumer Czar?
by Capitol ConfidentialIn the pitched battle over whether government should take over our health care system, a group of pro-life Democrat congressmen held the line to oppose the legislation because they knew the bill authorized funding for abortion. Under intense pressure from the president and their pro-choice comrades in the Congress, the group, led by Rep. Bart Stupak (D-MI) flip-flopped when they received a letter from the president ensuring that government would not spend money for abortion. They were had.
Now Sen. Rob Portman appears ready to “pull a Stupak.” Under pressure from Democrat Sen. Sherrod Brown, Portman appears ready to cut a deal to confirm former Ohio Attorney General Richard Cordray to a five-year term to head the super-regulatory agency known as the Consumer Financial Protection Bureau (CFPB).
Word on Capitol Hill is that Portman has assured Cordray he has no problems with his nomination and is asking for assurances that his concerns about the Bureau will be address – not in legislation, but in a letter. Has Portman learned anything from the Stupak incident? Apparently not.
Unlike Portman, Sen. Richard Shelby (R-AL) is taking a principled stand against the creation of a new super regulatory agency and is not shaking in his boots. Shelby has organized his colleagues who have pledged to oppose the nomination of Cordray or any other nominee unless the Bureau is reformed. Unlike Portman, apparently, Shelby is smart enough to demand real statutory changes as opposed to “promised” changes.
The CFPB was structured in a way to give huge, and perhaps unconstitutional, power to its Director. Alan Raul, who served as general counsel of the Office of Management and Budget and associate counsel to President Ronald Reagan, described the CFPB’s power as “an independent agency on steroids because Congress essentially exempted the director from any meaningful accountability or strong presidential oversight.”
As structured, the Director is empowered to regulate almost any industry for any reason and if Cordray is confirmed by the full Senate, would be given a five-year term and be removable only by malfeasance. So if a Republican wins the presidential election, they would enjoy four years of Mr. Cordray regulating the economy, no matter what the president did or said.
Not only should the CFPB be reformed, it should be eliminated. If Mr. Portman gets weak knees, he will ensure that another government regulatory agency – one with more power than most – will be around for a long time.
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25 Comments
"So if a Republican wins the presidential election, they would enjoy four years of Mr. Cordray regulating the economy, no matter what the president did or said."
Not if we have a Conservative House that defunds the agency. Whatever this Criminal-in-Chief has put into place, MUST be defunded and disassembled.
Typical Demokkkrat – putting on a show before he shows us how he really intneds to vote. Kabuki theater, nothing more.
Abortion = murder.
If you can kill an innocent unborn child just because it's inconvenient, you are beneath despicable. I think it is the ultimate test of one's character the side you pick on this issue.
The song Rose Colored Glasses come to mind,Obama is laughing at us because of how gullible we are.
How about let's be rid of all of the so-called 'czars'. This is the U.S. of A, not freaking Russia.
Czars, at least Obamunist style, are Executive subversions of Constitutional power aimed at administratively regulating us to death with garbage that would likely not survive Congressional review.
This would be worth a filibuster.
LIMITED GOVERNMENT, PEOPLE. What are you forgetting about LIMITED GOVERNMENT? Wake up already.
Another super regulatory agency? Really? You folks in D.C. are way past Potomac fever. You have Obamarhoids of the brain.
Portman caving to Brown??? Does Portman know that Brown is a carpet-bagging hack, who probably won't re-election.
This is so disappointing — I actually voted for Portman.
The next president needs to be a Constitutional Conservative who will throw the whole Obamunist Big Government model in the trash can, Cordray and all.
From regulatory agencies to czars… looks to me like we are going to need a lot of "taxation without representation reform" even before we can start working on the real tax reforms.
Well…. there is the slight of hand opening act. The one where they pick your pocket and take your wallet. Only thing is … your not getting those back.
Richard Cordray can be Impeached at any time.
Richard Cordray must be blocked, but even if Democrats get their way Richard Cordray can be Impeched, Removed from Office, and then locked up in Prison.
"The CFPB was structured in a way to give huge, and perhaps unconstitutional, power to its Director."
Perhaps? If a government agency itself is unconstitutional, it follows that giving any power to its director is also unconstitutional.
As structured, the Director is empowered to regulate almost any industry for any reason and if Cordray is confirmed by the full Senate, would be given a five-year term and be removable only by malfeasance. So if a Republican wins the presidential election, they would enjoy four years of Mr. Cordray regulating the economy, no matter what the president did or said.
This is a HUGE threat to the future of our country. In essence, this person will have equal power to the president if not more concerning domestic issues.
What is with these ass bags and their need for czars and tyrants? Time for an Occupy Congress moment from the Tea party.
Only an OHIO REPUBLICAN would make a deal with Sherrod Brown (one of the Senate's most extreme leftists).
Why is it that there needs to be supper this and that to protect this country? We have a supper committee that some of our elected official willing gave unprecedented powers to, not to mention if they are Constitutional. Now there is a super regulatory agency to protect us consumers by any means they deem necessary, I am sure that this agency will never be used to circumvent the Constitution.
Whats is next? Will we need super congressmen/congresswomen? Will we need a Super President? etc…..
It is time that we stop looking for the one size fit all solutions dictated by a select few in Chuckle Headville that willing are for sale to the high bidding lobbyist/mega-corporation. It is time that elect people that not only tell us they have ethics, principles, and values but actually use them.
Why do Republicans in the Congress repeatedly remind me of Charlie Brown landing flat on his back after Lucy swipes the football off the ground for the umpteenth time?
Okay, this has just got to stop. In 2012 we have got to replace Obama with a Republican and the Senate needs to be turned voer to the Republicans. Keeping the House is a given, but adding more Republicans is desireable.
He may not be able to be fired, but his "department" can be defunded and closed down and he, as an employee of the Government, can be reassigned until his term ends.
Portman is going to get a pink slip…….
Power corrupts and absolute power corrupts absolutely. Don't think this doesn't apply to our elected GOPers.
Wasn't the CFPB created by the Dodd-Frank bill? If so, wouldn't the repeal of Dodd-Frank also eliminate this newby to all of the other alphabet agencies run amok?
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Yes it was. Repeal should eliminate all aspects of the bill but it may have tendrils as far reaching as O-care.
I call the bill Frankendodd because it's so egregious.
(Also, isn't Portman part of the so called "Super Committee"?
"Word on Capitol Hill is that Portman has assured Cordray he has no problems with his nomination and is asking for assurances that his concerns about the Bureau will be address – not in legislation, but in a letter. Has Portman learned anything from the Stupak incident? Apparently not."
Couple of observations:
1. Learn how to write; or, at the very least, proofread your writing before you post.
2. "Word on Capitol Hill" does not give you license to perpetuate unsubstantiated myths about whether or not Mr. Portman would support the confirmation of Mr. Cordray. I guarantee whoever you talked to had ABSOLUTELY NO idea what he or she was talking about. One thing is for certain: you are not on firm enough footing to be lobbing misinformation about how Mr. Portman will handle the Cordray nomination.
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