Frontrunner and Obama 2012 spox issue warring statements on Cordray appointment.
Romney: “This [appointment] represents Chicago-style politics at its worst and is precisely what then-Senator Obama claimed would be ‘the wrong thing to do.'”
LaBolt: “[Romney] doubled down on his promise to eliminate the Wall Street watchdog and allow Wall Street to write its own rules again, leaving consumers vulnerable to hidden fees, financial traps and excessive risk taking that will hit their pocketbooks.”
EARLIER: Obama appoints Cordray to head CFPB while Congress is out of session.
Read Romney’s statement below.
ROMNEY: CORDRAY RECESS APPOINTMENT REPRESENTS CHICAGO-STYLE POLITICS AT ITS WORST
Boston, MA – Mitt Romney today made the following statement on President Obama’s recess appointment of Richard Cordray to be director of the Consumer Financial Protection Bureau:
“President Obama’s Consumer Financial Protection Bureau is perhaps the most powerful and unaccountable bureaucracy in the history of our nation, headed by a powerful and unaccountable bureaucrat with unprecedented authority over the economy. Instead of working with Congress to fix the flaws in this new bureaucracy, the President is declaring that he ‘refuses to take no for an answer’ and circumventing Congress to appoint a new administrator. This action represents Chicago-style politics at its worst and is precisely what then-Senator Obama claimed would be ‘the wrong thing to do.’ Sadly, instead of focusing on economic growth, he is once again focusing on creating more regulation, more government, and more Washington gridlock. As President, I will focus on turning around our economy so that America can once again lead the world in job creation.”
Read the Obama campaign’s statement below.
Statement on Governor Romney Siding with Predatory Lenders and Republicans in Congress over Middle Class Americans
“By opposing the appointment of Richard Cordray to run the first-ever consumer watchdog bureau, Mitt Romney today stood with predatory lenders and Republicans in Congress over the middle class. He doubled down on his promise to eliminate the Wall Street watchdog and allow Wall Street to write its own rules again, leaving consumers vulnerable to hidden fees, financial traps and excessive risk taking that will hit their pocketbooks. Governor Romney has made clear he has not learned the lessons of the economic crisis, instead, he’s giving the most irresponsible financial actors a bright green light to pursue profit at any cost to communities across America.”
Obama for America