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Obama Makes Recess Appointment To Consumer Financial Protection Bureau — Full Text

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THE WHITE HOUSE

Office of the Press Secretary

January 4, 2012

Remarks of President Barack Obama – As Prepared for Delivery

Shaker Heights High School

Cleveland, OH

January 4, 2012

As Prepared for Delivery —

Hello, Cleveland! It’s great to be back in Ohio. And it’s great to be here at Shaker Heights, home of the Red Raiders. I want to thank your mayor, Earl Leiken, for hosting us today. I also want to thank your superintendent, Mark Freeman, and your principal, Mike Griffith, for everything they do. I heard you have some pretty good basketball teams this season – boys and girls. It makes me wish I had some eligibility left.

Finally, I want to wish everyone a Happy New Year. One of my resolutions is to make sure I get out of Washington enough and spend more time with people like you. Because folks here in Ohio and across the country – you’re the reason why I ran for this office in the first place. And on days like today, you remind me what we’re still fighting for. An America where hard work and responsibility pays off. An America where anyone who puts in the effort and plays by the rules can get ahead.

That’s the America you deserve. That’s the America we’re working to build. And that’s why I told Congress they couldn’t leave for vacation last month until we made sure 160 million working Americans wouldn’t get hit by a tax hike on January 1st. It wasn’t easy. And it should have been. But in the end, we got members of both parties to come together and make sure that you could keep more money in your paychecks this month. You’re keeping that extra $40 in every paycheck. That means more security for your families, and a boost for our economy at a time when we need to do everything we can to keep it growing. More money spent by more Americans means more businesses hiring more workers. And when Congress returns, I urge them to extend this tax cut for all of 2012, without drama or delay. It’s the right thing to do. It’s a no-brainer. Let’s get it done. Pass these tax cuts.

But we still need to do more. So today, we’re taking another important step – one that will bring us closer to an economy where everyone plays by the same rules. And to help us do that, I’m joined by someone you might recognize: Richard Cordray.

Today I’m appointing Richard as America’s consumer watchdog. That means he’ll be in charge of one thing: looking out for the best interests of American consumers. His job will be to protect families like yours from the abuses of the financial industry. His job will be to make sure you’ve got all the information you need to make important financial decisions. Right away, he’ll start working to make sure millions of Americans are treated fairly by mortgage brokers, payday lenders and debt collectors. In fact, just this week, his agency is opening up a simple, 1-800 number you can call to make sure you’re getting a fair deal on your mortgage, and hold banks and brokers accountable if you’re not.

I nominated Richard for this job last summer. And yet, for almost half a year, Republicans in the Senate have blocked his confirmation. They’ve refused to even give Richard and up-or-down vote. It’s not because he’s unqualified. There is no question that Richard is the right person for this job. He’s got support from Democrats and Republicans. A majority of Attorneys General from both parties across the country have called for Richard to be confirmed. Your local Members of Congress who are here today – they support him. He has the support of a majority in the Senate. Everyone agrees that he’s more than qualified.

The only reason Republicans in the Senate have blocked Richard is because they don’t agree with the law setting up the consumer watchdog. They want to weaken it. Well that makes no sense at all. Does anyone think the reason we got in such a financial mess was because of too much oversight? Of course not. We shouldn’t be weakening oversight and accountability. We should be strengthening it – especially when it comes to looking out for families like yours. Financial firms have armies of lobbyists in Washington looking out for their interests. It’s time someone fought for you, too.

This is a fight that Richard has been waging here in Ohio for the better part of two decades. As your Attorney General, he helped recover billions of dollars in things like pension funds on behalf of retirees, and protected consumers from dishonest lending practices. Before that, Richard was the State Treasurer, where he earned a reputation for working with folks from across the spectrum – Democrats, Republicans; bankers and consumer advocates.

Cleveland, you’ve seen the difference that Richard can make for consumers. I have too. And that’s why I want Richard to keep standing up for you – not just here in Ohio, but all across the country.

Every day that Richard waited to be confirmed was another day when millions of Americans are left unprotected. Without a Director in place, the consumer watchdog agency we’ve set up is left without the tools it needs to prevent dishonest mortgage brokers, payday lenders and debt collectors from taking advantage of consumers. That’s inexcusable. It’s wrong. And I refuse to take “no” for an answer.

I’ve said before that I will continue to look for every opportunity to work with Congress to move this country forward and create jobs. That means putting construction workers back on the job repairing our roads and bridges. That means keeping teachers in the classrooms and cops and firefighters on the streets. That means helping small businesses get ahead. These are ideas that have support from Democrats, Republicans and Independents. And I want to work with Congress to get them done.

But when Congress refuses to act and as a result hurts our economy and puts people at risk, I have an obligation as President to do what I can without them. I have an obligation to act on behalf of the American people. I will not stand by while a minority in the Senate puts party ideology ahead of the people they were elected to serve. Not when so much is at stake. Not at this make-or-break moment for the middle class.

For too long, we’ve had a financial system that stacked the deck against ordinary Americans. Banks on Wall Street played by different rules than businesses on Main Street – or a lot of community banks. Hidden fees and fine print led consumers to make financial decisions they didn’t always understand. And all that risky behavior led to an economic crisis that we’re still digging ourselves out of.

That’s why, last year, we put in place new rules of the road to make sure that a few bad apples in the financial sector can’t break the law, cheat consumers, and put our entire economy in danger. Many of these provisions are already starting to make a difference. And for the first time in history, we put in place a consumer watchdog – someone whose only job is to look out for the interests of everyday Americans.

Richard is the right man for this job. If you’re a student, his job will be to protect you from dishonest lending practices and make sure you have all the information you need on student loans. If you’re a veteran, he’ll help make sure you aren’t taken advantage of when you come home from serving our country. And if you’re a senior, he’ll help make sure you don’t lose your home or your retirement because someone saw you as an easy target.

Earlier today, I met Endia and William Eason. Endia is 91 years old, and she’s known for making some of the best pies in Cleveland. William is a former Marine who now lives in a nursing home nearby. Ten years ago, the Easons were approached by a broker who offered to help them take out loans and make some much-needed repairs to their house. The broker made everything sound easy, so the Easons agreed. But before they knew it, the broker had disappeared with their money – leaving the Easons almost $80,000 in debt and in danger of losing their home.

Endia and William Eason are good people. They worked hard, they saved their money, and they earned the right to retire with dignity. They shouldn’t have to worry about being tricked by someone trying to make a quick buck.

The Easons need someone who will stand up for them. Millions of Americans need someone who will look out for their interests. They need someone like Richard.

We know what would happen if Republicans in Congress were allowed to keep holding Richard’s nomination hostage. More of our loved ones could be tricked into making bad financial decisions. More dishonest lenders could take advantage of the most vulnerable among us. And the vast majority of financial firms who do the right thing could be undercut by those who don’t.

We can’t let that happen. Now is not the time to play politics while people’s livelihoods are at stake. Now is the time to do everything we can to protect consumers and prevent a financial crisis like the one we’ve been through from ever happening again. And that starts with letting Richard Cordray do his job.

Cleveland, I know you’re hearing a lot of promises from a lot of politicians lately. But today, you’re only going to hear one from me. As long as I have the privilege of serving as your president, I promise to do everything I can, every day, to make this country a place where hard work and responsibility mean something – where everyone can get ahead, not just those at the very top or those who know how to work the system. That’s what America has always been about. That’s what today is all about. And with the help of people like Richard, that’s the country I believe we can be once again.

Thank you, God bless you, and God bless the United States of America.

###

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News

Marjorie Taylor Greene Delivers Demands to Johnson as Her Three-Person Posse Weakens

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Under her threat to call up her motion to oust Speaker of the House Mike Johnson, U.S. Rep. Marjorie Taylor Greene (R-GA) met with the Louisiana Republican for several hours on Monday, delivering her list of demands, while knowing that Democrats have vowed to ensure her efforts to have him removed will fail.

Congresswoman Greene, a far-right extremist and self-proclaimed Christian nationalist, tried to build a faction of disaffected House Republicans but only two other GOP lawmakers have signed on to her “motion to vacate.” One of them, Christian nationalist U.S. Rep. Paul Gosar (R-AZ) did not show for her Monday meeting.

At the top of Greene’s list of demands is ending all aid to Ukraine, according to Punchbowl News. The second item is defunding Special Counsel Jack Smith’s criminal investigations into Donald Trump. And lastly, promising to adhere to the so-called “Hastert Rule,” putting on the floor for a vote only legislation that is supported by the majority of the Republican majority.

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Calling these maneuvers “cosplay” and “mostly theater,” Punchbowl notes: “Greene doesn’t really see those political realities as hurdles — or care. She wants to cause legislative crises and get media coverage.”

Johnson has the support of Donald Trump, along with, for now, the support of House Democrats including Minority Leader Hakeem Jeffries.

Greene and her number two supporter, U.S. Rep. Tim Massie (R-KY), possibly with Congressman Gosar – whose support for Greene’s motion to vacate appears to be wavering – are expected to meet again with Speaker Johnson on Tuesday.

The Guardian reports some observers are “suggesting the Georgia congresswoman is looking for an off-ramp,” and adds that Greene’s “lunchtime summit” could “finally offer clarity” on whether she “still intends to press ahead with her drive to oust speaker Mike Johnson, or accept a face-saving alternative that would give the impression of a win.”

Gosar’s apparent wavering has not gone unnoticed.

Punchbowl News’ Mica Soellner reports: “Rep. Paul Gosar tells me he’s still very much behind the MTV [motion to vacate] effort and missed today’s meeting due to a flight delay.”

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He told Soellner: “If Marjorie wanted me to come, I would’ve been there.”

She notes Gosar did not commit to attending Tuesday’s meeting.

Meanwhile, from the non-Greene side of the House Republican conference, Fox News’ Chad Pergram reports on comments made by U.S. Rep. Don Bacon (R-NE).

Citing his Fox News colleague Brianna O’Neil’s reporting, he writes (not direct quotes): “GOP NE Rep Bacon on Greene’s efforts to remove Johnson: We don’t like it. We’d be angry about it because all it does is weaken all of us. And it’s it’s like 2 or 3 people working for the other side of the aisle…it appears to us, you know, the other side shooting this also foot right now over all the campus stuff. Joe Biden’s polling at 36%, the lowest of any president going back to 1952. So why jump in the way of that? And we’ve got 2 or 3 people are doing that. And it’s just a tactical and strategically. It’s not smart.”

Last week, Congresswoman Greene held a news conference and vowed to call up her motion to vacate, “next week, absolutely.”

On Monday, Greene alleged a “deal” has been made between Johnson and Speaker Emerita Nancy Pelosi.

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OPINION

Trump Threatens to Violate Gag Order and Go to Jail: ‘I’ll Do That Sacrifice Any Day’

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May 6, 2024

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Just hours after a New York State Supreme Court Justice held Donald Trump in criminal contempt of court for violating his gag order and threatened him with jail time, the ex-president attacked several of the judges overseeing his cases, and suggested he may violate the gag order for the good of the U.S. Constitution.

“Because this judge has given me a gag order and says you’ll go to jail if you violate it. And frankly, you know what, our Constitution is much more important than jail. It’s not even close. I’ll do that sacrifice any day,” Trump claimed.

Trump is on trial for 34 criminal felonies for falsification of business records, which experts describe as election interference after he paid “hush money” to an adult film actress in an effort to keep his alleged affair away from the public eye just before the 2016 presidential election.

The ex-president, who announced his 2024 run for the White House, insiders say, to escape prosecution for a wide variety of alleged crimes, began his Monday post-trial news conference with reporters by criticizing the prosecution’s announcement it expects to wrap up its portion of the trial in about two weeks.

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“The government just said that they want two to three more weeks,” Trump complained. “That means they want to get me off the [campaign] trail for two to three more weeks. Now, anybody in there would realize that there’s no case, they don’t have a case. Every legal scholar says they don’t have a case. This is just a political witch. It’s election interference. And this is really truly election interference, and it’s a disgrace. It’s a disgrace, and in every poll I’m leading by a lot.”

Those statements are false.

The New York Post reports, “Prosecutor Josh Steinglass estimated that the DA’s office would wrap up its case around May 21, two weeks from tomorrow. But he cautioned that’s a ‘rough estimate.'”

Concluding the District Attorney’s Office did have a case, a Manhattan grand jury indicted Trump on 34 felony counts.

A great many legal scholars say there is a case.

There is no evidence of a “political witch-hunt.”

Trump is not leading in all the polls, nor, in all the ones he is leading in, is he leading by “a lot.” Nor do political candidates get exempt from prosecution because they may be leading in a particular poll.

The ex-president went on to claim prosecutors “figure maybe they can do something here, maybe they can do, this case should be over, this case should have never been brought.”

“And then Alvin Bragg brought the case, as soon as, when I’m running and leading, that’s when they decided, let’s go bring a case. So it’s a disgrace. But we just heard two to three more weeks. I thought that we’re finished today and they are finished today. We look at what’s happening. I thought they were going to be finished today and then 2 to 3 more weeks,” he again complained, again saying prosecutors “all want to keep me off the campaign trail. That’s all this is about. This about election interference. How do we stop it? And it’s a disgrace.”

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Trump then brought up the gag order.

“Where I can basically, I have to watch every word I tell you people, you asked me a question, a simple question I’d like to give it but I can’t talk about it,” he claimed, falsely.

“Because this judge has given me a gag order and say you’ll go to jail if you violate it. And frankly, you know what, our Constitution is much more important than jail. It’s not even close. I’ll do that sacrifice any day.”

Trump attacked three of judges overseeing his case, excluding U.S. District Court Judge Aileen Cannon.

“But what’s happening here is a disgrace and the appellate courts ought to get involved. New York looks so bad, system of so called justice was so bad between this judge and [Judge Arthur] Engoron and [Judge Lewis] Kaplan the triple teamed with the corrupt judges is a disgrace to our nation. So I should be out there campaigning.”

Watch Trump’s remarks below or at this link.

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OPINION

‘Israel Aid, Ukraine Aid, Kitchenaid’: Dem Mocks GOP’s ‘Hands Off Our Appliances’ Week

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May 6, 2024

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Last year in January, in the wake of a study that found 650,000 children have developed asthma because of gas stoves, Bloomberg News reported: “US Safety Agency to Consider Ban on Gas Stoves Amid Health Fears.”

There was no ban in the works or on the way, and the chair of the U.S. Consumer Product Safety Commission (CPSC) was forced to issue a statement promising, “I am not looking to ban gas stoves and the CPSC has no proceeding to do so.”

Republicans however, went on the attack, with some, like U.S. Rep. Ronny Jackson (R-TX), a physician, shouting on social media, “I’ll NEVER give up my gas stove. If the maniacs in the White House come for my stove, they can pry it from my cold dead hands. COME AND TAKE IT!!”

Congressman Jackson soon doubled-down, appearing on Newsmax.

One month later, West Virginia Democratic U.S. Senator Joe Manchin teamed up with several Republicans to protect Americans’ “right” to non-electric cooking.

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“Gas stoves have been in the news lately and I’ve come out strongly against the Consumer Product Safety Commission pursuing any ban of gas stoves,” Manchin declared, despite there being no possibility of that. “In fact, I’m introducing legislation today with Senator [Ted] Cruz that would ensure that they don’t and separately sending a letter to the commission with Senator [James] Lankford.”

For decades the scientific community has known about the health dangers of gas stoves, but Americans love them and there are no plans to have any federal government agency coming to take them away.

The Biden administration would like to help Americans buy new, energy-saving home appliances, but Republicans oppose those efforts as well.

Nearly sixteen months later, Republicans are still working to protect Americans from what some have suggested will be the federal government knocking on the doors of U.S. citizens to take away their gas stoves.

Last month, Republican Speaker Mike Johnson was all set to revive the House’s focus on ensuring Americans can continue to grill baby grill – indoors – childhood asthma-be-damned, and nearly put HR 6192, the Hands Off Our Home Appliances Act, and several others on the floor for votes, including:

The “Liberty in Laundry Act” (HR 7673), the “Clothes Dryers Reliability Act (HR 7645), the “Refrigerator Freedom Act” (HR 7637), the “Affordable Air Conditioning Act” (HR 7626), and the “Stop Unaffordable Dishwasher Standards Act” (HR 7700).

But at the last minute he changed the schedule after aid to Ukraine and Israel became the national focus.

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MSNBC’s Steve Benen reports Monday, “the ‘Hands Off Our Home Appliances Act’ … will likely reach the floor this week, possibly as early as tomorrow.”

One year ago this month, U.S. Rep. Jared Moskowitz (D-FL) delivered amusing remarks during a House hearing.

“I want to apologize on behalf of the Democratic Party that we have decided to put kids’ safety, in their neighborhoods from getting gunned down, in movie theaters, or grocery stores, or school churches, or synagogues – we as Democrats have clearly lost our way that we are not focused on appliances,” Moskowitz said sarcastically in a viral video.

Now he’s back, along with the House Republicans’ renewed focus on the false fear-mongering the federal government is coming for your home appliances, or is going to ban them.

In response to Axios’ Andrew Solender reporting, “Appliance Week is BACK in the House!” Congressman Moskowitz replied, “Israel aid, Ukraine aid, Humanitarian aid, Kitchenaid.”

He then grew even more sarcastically excited:

Watch the videos above or at this link.

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