President Obama Says Cordray Pick Shows Resolve to Aid Ordinary Americans

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http://www.bloomberg.com/news/2012-01-07/obama-says-cordray-pick-shows-resolve-to-aid-ordinary-americans.html

President Barack Obama said his decision to use a disputed recess appointment to put Richard Cordray in place as director of the U.S. Consumer Financial Protection Bureau is part of his New Year’s resolution “to make sure that middle-class families regain the security they’ve lost over the past decade.”

“We can’t go back to the days when the financial system was stacking the deck against ordinary Americans,” Obama said in his weekly radio and Internet address.

Ramping up his re-election campaign, Obama is using the recess appointment to draw a distinction between Republicans and his fellow Democrats. Obama’s opponents blocked Cordray’s nomination since last summer because “they wanted to weaken his agency,” the president said.

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“This is a make or break moment for the middle class and all those working to get there,” Obama said, highlighting yesterday’s Labor Department report that showed the unemployment rate fell to 8.5 percent (USURTOT) last month, the lowest level since February 2009.