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And by "Breaking" I mean that this story has been "breaking over the course of the last 10 months:

September 17, 2010:

President Obama announced the appointment Friday of Harvard law professor Elizabeth Warren to be an assistant to the president and oversee the creation of a new consumer financial protection bureau.

Speaking at the Rose Garden, Obama called Warren "one of the country's fiercest advocates for the middle class" and said she will "oversee all aspects of the bureau's creation" and "play a pivotal role" in picking her successor.

The decision to name Warren, the first to call for the creation of such a bureau, to the temporary job has been widely seen as a compromise aimed at avoiding a potentially bruising Senate confirmation.

May 6, 2011:

On Thursday, while House Republicans were dealing with a small Medicare privatization snafu, their Senate counterparts laid down an impossible marker. Forty four of their 47 members have signed on to a letter threatening to filibuster any nominee to head the new Consumer Financial Protection Bureau unless it is dramatically weakened.

"We will not support the consideration of any nominee, regardless of party affiliation, to be the CFPB director until the structure of the Consumer Financial Protection Bureau is reformed," reads a letter, co-authored by Senate Minority Leader Mitch McConnell and Sen. Richard Shelby (R-AL), ranking member of the Banking Committee.

From Politico on May 26, 2011:

President Barack Obama won’t be able to make any executive recess appointments when senators are home next week for the Memorial Day recess — including Elizabeth Warren, Obama’s pick to head the Consumer Financial Protection Bureau.

The Senate will be in “pro forma session” because Republicans are threatening to block adjournment, Senate leadership aides said. A senator who lives in nearby Virginia or Maryland will be asked to briefly open and close the session on those days, during which time no business will be conducted.

The Senate is tasked with confirming top executive branch officials nominated by the president. But Article II of the Constitution allows the president to temporarily appoint officials during a Senate recess.

Liberals have been pushing Obama to recess appoint Warren as the head of the new financial agency she helped create. But that won’t be possible now given the Senate’s procedural move.

President Obama cannot appoint Elizabeth Warren to be head of the CFPB because Repulicans have pulled out all of the stops in order to destroy the agency. So, Kossacks are united in going after the Republicans and using this issue as a rallying cry to go out and fight to defeat the Republicans in 2012, right?

Well, not all of them:

Obama raises the white flag for Wall Street(15+ / 0-)
Recommended by:Puddytat, wigwam, victoria2dc, opinionated, bobdevo, DrTerwilliker, MadRuth, coffejoe, Margfh, Jackson L Haveck, Dave925, PhilK, blue in NC, 3rdOption, Roadbed Guy
Plutocracy too long tolerated leaves democracy on the auction block, subject to the highest bidder ~ Bill Moyers

by Lefty Coaster on Fri Jul 15, 2011 at 11:14:14 PM PDT

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If he plans on running in 2012 (13+ / 0-)
Recommended by:Lefty Coaster, wigwam, opinionated, bobdevo, MadRuth, Edger, lucretiamott, Jackson L Haveck, Dave925, PhilK, blue in NC, 3rdOption, Roadbed Guy
as a centrist candidate, he's going to have to start moving way, way left.  Old, recycled Republican ideas and folding like a cheap suit every time the GOP gives him the nasty eyeball isn't my idea of Change You Can Believe In.
There already is class warfare in America. Unfortunately, the rich are winning.

by Puddytat on Fri Jul 15, 2011 at 11:46:12 PM PDT

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God, this president is useless. (7+ / 0-)
Recommended by:wigwam, Dave925, PhilK, JuliaAnn, 3rdOption, bleedingheartliberal218, Montreal Progressive
Why I Won't Vote For Obama Again, #6

by willibro on Sat Jul 16, 2011 at 12:10:34 AM PDT

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And why are these community members so angry with ther President? Because the conservative Bloomberg news outlet, has spun determined Republican resistance to consumer protecting this way:

Obama Eliminates Warren as Consumer Protection Agency Head

When it opens its doors next week, the federal government's new agency to protect consumers from financial fraud won't be quite the aggressive watchdog promised a year ago.
Because of political squabbling, the Consumer Financial Protection Bureau formally will launch without an appointed director. And the lack of leadership has real consequences.

Oh, how unfortunate that we don't get an aggressive watchdog because of "political squabbling." Tell the goddamn truth Bloomberg: we don't get an aggressive watchdog because preventing that from happening is a top Republican priority.

Those of you who attacked the President for "eliminating Elizabeth Warren" can apologize in comments.

9:34 AM PT: There seems to be some confusion in comments about the intent of this diary. I am in no way saying that Raj Date or anyone else Obama nominates to head the CFPB will not be an aggressive watch dog. My point is that Republicans do not want an aggressive watchdog and have promised to block anyone, EVEN A REPUBLICAN, who Obama nominates for the job. *sidenote: I'm on my iPhone right now so I can't do all the bolding and italicizing I'd like to do in this update.


11:34 AM PT: A quick update to acknowledge bobswern's rec-listed diary. It's funny how he contributes nothing to the conversation other than the accusation of "lame excuse making" in his title and an article by Yves Smith (surprise, surprise). Nothing, NOTHING, contained in swern's diary undermines a single one of the basic facts contained in this diary. All he provides is a reconizable name for one side of the pie fight to rally around. Bad form Bob.


Originally posted to seanwright on Sat Jul 16, 2011 at 06:47 AM PDT.

Also republished by The Yes We Can Pragmatists and Progressive Messaging.

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