Below is an email from James Lardner of Americans for Financial Reform, who created a petition on SignOn.org, the nonprofit site that allows anyone to start their own online petition. If you have concerns or feedback about this petition, click here.
As Elizabeth Warren says, "Never before in American history has a minority in the Senate blocked a nominee to try to get changes in a law they don't like and don't have the votes to change."
She's talking about the 43 senators who have threatened to block Rich Cordray's re-nomination as director of the Consumer Financial Protection Bureau (CFPB). They don't question his qualifications; their grievance is with the agency itself. They want changes that would undermine its funding, independence, and authority before they will allow a vote on any nominee for the job.
It's time to end this outrageous obstructionism. With the Senate banking committee poised for a vote, we have come to a Paul Revere moment for financial reform and the future of the agency that Paul Krugman has called "a shining example of how to do it right."
Make no mistake: This is an effort to gut the CFPB, not fix it. A minority of senators who voted against its creation in the first place are using the confirmation process to try to bully the CFPB out of effective existence. The changes that they demand would be terrible for consumers, but wonderful for Wall Street and financial scammers.
The choice before the Senate is simple: Allow an up-or-down vote on this nomination, or open the door to more of the slippery financial practices that the CFPB is working hard to prevent.
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This email was sent to eddie alfaro on March 30, 2013. To change your email address or update your contact info, click here. To remove yourself from this list, click here.