Some things will never change. The Democrats have been no strangers to helping Wall Street (Obama continues to rake in more money from Wall Street than all of the GOP candidates combines) but on this occasion, it's the GOP who is blocking efforts to help out the middle class. If Obama really wants his candidate for consumer protection, he's going to have to make this a public fight. He failed to support Elizabeth Warren so this time, he needs to find a way to make it work.
Can the Republicans ever do anything besides say "no" to everything? LA Times:
This isn't about making the Consumer Financial Protection Bureau more accountable. It's about holding the president's nominee hostage until Republicans can deliver a more business-friendly regulator to their deep-pocketed corporate backers.
The agency is charged with protecting consumers from rapacious credit card companies, mortgage lenders, payday loan firms and other businesses that aren't always known for their consumer-friendly ways.
Creation of the Consumer Financial Protection Bureau was fought every step of the way by banks and other financial services firms, which argued that a new industry overseer was unnecessary, despite the fact that unscrupulous lending practices drove the global economy to the brink of ruin and fostered the worst economic downturn since the Great Depression.
