Consumer Protection Bureau Clash Follows Party Lines
Maybe Bill Clinton was right.
Everybody in Congress and in the Obama administration said they are for consumer protection. However, in the debate over the new consumer bureau, it seems to be the case–to paraphrase the former president–that it depends on what the meaning of "consumer protection" is.
Senate Republicans are threatening to filibuster the confirmation of anyone President Obama nominates to run the bureau if Obama and Senate Democrats don’t agree to structural changes in the bureau. Senate Democrats, who hold a majority of seats but not the 60 needed to break a filibuster, say no dice.
Obama could circumvent lawmakers and name a new director as a recess appointment, which would allow him or her to serve until the end of 2012.