Over the summer, I posted here quite a lot. The activity has dropped off as I attended my busiest semester ever, working, among too many things, on a sociological study of the entire US occupy movement over the course of two and a half months.
This summer, however, I was incredibly directionless and poorely (unemployed), and this site was a boon for me to keep my inspirational and political bearings straight. There was much infighting, but it was almost all of a well-meant, constructive nature, however bitter. One of the biggest areas of consensus in a very divided Kossack universe was on the Consumer Financial Protection Bureau (CFPB). The consensus was based on the very same issues that galvanized the occupy movement, which I addressed with some light number crunching here, a diary that went to the rec list for the first time in my 4 years here.
My big question is where the hell are the diaries on the Richard Cordray Recess appointment? Remember the viral response to the Drew Westen Times article, "What Happened to Obama's Passion?" Well Dr. Drew, it looks like we've found some of it, and I have to ask: What the HELL happened to DailyKos' Passion?
I don't have time to tell you how great this decision is. The CFPB will get funded now. The architecture put into place by Elizabeth Warren will now get the roots and claws it needs to get into the system, and with that will come major positive financial implications for the low-to moderate income Americans who desperately need it. Oh yeah, I forgot one thing: that this will get fought harder than ever. A supreme court challenge is ahead. In general the banks are going to fight back with their lobbyists harder than ever. If ever there was an issue that Occupy Washington, Occupy Wall Street, and the general progressive movement could all get behind, it should be supporting the President on this policy and making sure it doesn't get rolled back. Reward him for it. I'll close with an argument in favor of Richard Cordray, for those of us who didn't catch it the first time around.
"President Obama's decision to overrule the big banks and the Senate Republicans who are protecting them gives consumers a strong ally and advocate in Washington. The President has made an exceptional choice in Richard Cordray as head of the new Consumer Financial Protection Bureau.
"Republicans never had any substantive objections to Mr. Cordray, the very qualified former Attorney General of Ohio. Instead, Senate Republicans blocked a confirmation vote for anyone to head up the consumer agency. Instead of implementing the law as written, Senate Republicans tried repeatedly to undermine the agency’s effectiveness and to frustrate efforts to hold the big banks accountable for bringing our economy to its knees.
"The President made every effort to present a candidate for a Senate vote, but he was right not to let Senate Republicans block full implementation of the consumer agency. Senate Republicans will surely complain about the recess appointment, but their refusal to allow an up or down vote on Cordray's nomination is just another example of the political games in Washington that must end.
"It's time the big banks and their allies acknowledge the urgent need for change. It is time to work with Richard Cordray as he promotes basic, common sense rules to level the playing field for consumers.