President Obama's brave decision to appoint Richard Cordray as the 1st Director of The Consumer Financial Protection Bureau.
Take a look at Lawrence O'Donnell's coverage here:
"But the arc of history does not bend toward justice through capitulation cast as compromise. It does not bend when 400 people control more of the wealth than 150 million of their fellow Americans. It does not bend when the average middle-class family has seen its income stagnate over the last 30 years while the richest 1 percent has seen its income rise astronomically. It does not bend when we cut the fixed incomes of our parents and grandparents so hedge fund managers can keep their 15 percent tax rates. It does not bend when only one side in negotiations between workers and their bosses is allowed representation. And it does not bend when, as political scientists have shown, it is not public opinion but the opinions of the wealthy that predict the votes of the Senate. The arc of history can bend only so far before it breaks." - Drew Westen
Richard Cordray is the next best choice (after Elizabeth Warren) to head the Consumer Financial Protection Bureau.
To those who are worried that the CFPB will create too much regulation we remind them it was the lack of regulations that fueled the behavior leading up to the current recession. Therefore, at this present time we really need someone in Washington, representing the citizens on Main Street, keeping an eye on the machinations of Wall Street.
Look for more announcements on this campaign and join the discussion.