Saturday, January 7, 2012

Barack Obama - #3550 - Cordray's Power Stymied by 2010 Law that Created His New Agency - The Daily Caller (2) Michael Savage: Here's What America Will Look Like if Obama Wins - WND

President Barack Obama says he has used his executive authority to make Richard Cordray the director of the new Consumer Financial Protection Bureau, an agency that Democrats claim will protect Americans from the nation’s huge financial-services industry.  But an obscure paragraph in the 2010 law that created the bureau may keep Cordray in check unless the Senate formally approves of his hiring — an approval Obama sought to circumvent by making him a so-called “recess” appointment.  Section 1066 of the law says many of the bureau’s new powers are to be held by the secretary of the Treasury “until the Director of the Bureau is confirmed by the Senate.”  That legal technicality ensures that Cordray’s power will be legally crippled, said Roger Pilon, the founder and director of the Cato Institute’s Center for Constitutional Studies.  “I don’t think he would have the authority to act” because he still hasn’t been confirmed by the Senate, Pilon said. “As soon as he did [try to impose a decision], it would be challenged [in court] by one of the people or entities that is affected.”Among the powers reserved to a confirmed director are oversight over non-bank financial companies, such as payday lenders and debt collection firms.  Read more........

Michael Savage: Here's What America Will Look Like if Obama Wins - WND - If Barack Obama wins in 2012, America is headed for something worse than a failing European-style socialist state, top-rated radio host Michael Savage said on his nationally syndicated show today.  “I have to tell you that if this man, God forbid, is the next president of the United States, we’re going to be living in something along the lines of – people say Europe. I don’t believe it’s going to be like Europe – I think it will be closer to Chavez’s South American dictatorship,” he told his “Savage Nation” audience. Recalling his background as the son of an immigrant from Russia, who has been around awhile and seen a number of administrations, Savage said that if he had one message to leave, it would be a warning about what he fears is on the horizon.  “This is the most corrupt, incompetent, dangerous tyrannical administration in American history,” he declared.  “It’s not politics as usual. It’s not just Democrats versus Republicans,” Savage said.  Obama, he said, is “not a Democrat,” noting the president’s history of ties to Marxists and other radicals documented in his book “Trickle Up Poverty.”  “Obama has a long history of being at odds with American values and with America itself and the core principles of this country.” Savage said.  Savage pointed to media as one of the areas in which “step by step, degree by degree, we’re losing our freedom.”  Read more..........

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