Consumer Agency's Warren Said To Hire Ohio Attorney General

[ProSense]

Consumer Agency's Warren Said To Hire Ohio Attorney General

By Carter Dougherty

Elizabeth Warren, the special White House adviser setting up the Bureau of Consumer Financial Protection, has selected Ohio Attorney General Richard Cordray to head the new agency’s enforcement arm, according to two people briefed on the appointment.

Cordray, a Democrat who was defeated in November for re- election by former Republican Senator Mike DeWine, has participated in the multi-state investigation of mortgage servicers over allegedly falsified documents.

The consumer bureau, which was created by the Dodd-Frank regulatory overhaul, has the authority to regulate consumer financial products, and Warren has set credit cards and mortgages as its first priorities. Its employees are now part of the Treasury Department and will join the bureau when it officially starts work in July 2011.

In November, Cordray sued GMAC Mortgage LLC and its corporate parent, Ally Financial Inc., accusing them of using fraudulent affidavits in court cases over foreclosures in Ohio, according to the state’s website. His office is also managing litigation against financial firms including American International Group and Bank of America Corp.

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[NEOhiodemocrat]

1. Good

He is a good man, shame Ohioian let the Republicans sweep this state again. I am getting really bummed out about this state.

[great white snark]

2. She didn't pick an incompetent Republican?

I thought Elizabeth Warren was just a clueless pawn being used by Obama and his corporate masters.

Hmmm.





Edit for spelling.

[zipplewrath]

3. The good part about the Warren appointment

I was one that wasn't thrilled about how the whole appointment thing worked out, but I will say that one of the GOOD things about it is she is setting some early priorities. They can always be changed by her successor of course, but there is the chance that the influence of institutional inertia will always keep them rolling around on the org chart.

[Arkana]

4. He's probably just another corpofascist bankster sellout.

Now if you'll excuse me, I'm going to get in my Volvo so I can go to Starbucks and get an arugula latte.

[Beetwasher]

5. The Obama "Critics" Warren Paradox: They Can't Explain Her And Still Call Obama A Corporate Whore

You can't be consistent and call Obama a corporate whore/tool/ whatever and explain how Warren is allowed to exist and do stuff like this in his admin. It can't be done in any consistent fashion. Warren singlehandedly blows the whole "Obama corporate whore" meme out of the water (and there are other examples, but she's the most obvious and glaring). Does not compute.

Case in point, not a single "critique" could do this when challenged:

http://journals.democraticunderground.com/Beetwasher/102

[Uzybone]

6. another act of capitulation from the pawn Elizabeth Warren

we should primary her too.