tag:blogger.com,1999:blog-1709715062681399199.post3583349992971308417..comments2023-07-20T10:37:28.692-04:00Comments on Grumpy Abe: Why is API spending money on this guy?Grumpy Abehttp://www.blogger.com/profile/01012210966022330986noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-1709715062681399199.post-78745607583816830562011-12-08T14:38:09.793-05:002011-12-08T14:38:09.793-05:00Portman has long been a fiscal conservative, both ...Portman has long been a fiscal conservative, both during his time in the House and as Bush's budget guru. But his down-the-line toeing of the Republican obstructionist tactics in the Senate are inexcusable, particularly the vote against permitting an up-or-down vote on the Senate floor on Cordray's nomination. Cordray is a fellow Ohioan -- and a potential candidate for the Senate -- so that might explain Portman's obstructive stance. The GOP senators' lame explanation for their objection is that the new consumer protection agency would not be "accountable" to Congress. It would be structurally under the oversight of the Federal Reserve Board, just like other regulatory bodies governing the financial services industry. This method of accountability was consciously and judiciously considered by the authors of the Dodd-Frank law to prevent partisan meddling and manipulation of such regulators. It would not, despite misstatements to the contrary, be totally free of congressional oversight, since the committees of jurisdiction in both houses could call its director, or any other employe of the agency, to testify before them. Cordray, by the way, is not the only Obama appointee ambushed by Senate Republicans. Several others, judicial and otherwise, have also been jammed up, some for the flimsiest of reasons.David Hessnoreply@blogger.com