President Obama denounced a vote in the Senate Thursday that blocked the
appointment of former Ohio Attorney General Richard Cordray to head the
Consumer Finance Protection Bureau, and called again for Congress to
pass an extension of the payroll tax cut and unemployment benefits
before leaving for the holidays.
"There is no reason that Mr. Cordray should not be nominated and should not be doing his job right away," Obama said.
"This makes absolutely no sense. Consumers across the country understand
that part of the reason we got into the financial mess we did was
because regulators were not doing their jobs," he continued.
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