Thursday, December 8, 2011

Democracy, US Senate style: 53 yays, 45 nays...the nays have it!

Richard Cordray Nomination Blocked By Senate Republicans

WASHINGTON -- Senate Republicans on Thursday blocked an effort to put someone in charge at the Consumer Financial Protection Bureau, a move that prevents the newly formed agency from supervising some of the same nonbank entities that triggered the financial crisis.
The Senate voted 53 to 45 to to begin debate on confirming Richard Cordray as the CFPB director. The motion required 60 votes to pass.