The Danger of the Cordray Recess Appointment

By | January 5, 2012

Back on Dec 6th and 7th of this year a two-part article appeared on CDN that described the method the Obama administration was using to take over U.S. Banks by copying exactly how Venezuelan President Hugo Chavez was taking over every part of private industry in creating his Communist Collective down in South America. Please read, U.S. Banks Being Taken Over Using Chavez-Style Manipulation Part 1 to understand the eery similarities between Chavez and Obama’s methods of operation today. Then, in Part 2 of that same article, it is exposed exactly how Indy Mac bank of California became One West bank, as the FDIC, Obama and Bernanke-Approved Bank Fraud lined the pockets of Dell, Paulson and Billionaire Leftist money-manipulator, George Soros, while also depleting FDIC funding, thus leaving U.S taxpayers to foot the bill.

The Indy-Mac fraud was in fact a test-run and model to use for the takeover of U.S. Banks and effect a major shift of financial power to assorted leftists like George Soros and crony-capitalists like Dell and Paulson. And they use the Dodd-Frank supposed financial reform bill, in conjunction with a politically injected CFPB ( Consumer Financial Protection Bureau) appointed “Czar” to complete the tri-fecta of taking over banks, turning them over to the likes of George Soros and assorted crony-capitalists, and then sticking the taxpayers with the losses from these same banks through depleting the FDIC fund, which is now about bankrupt.

Enter the latest unconstitutional recess appointment and “Money Czar” Richard Cordray. While President Obama was campaigning on the taxpayer’s dime once again in Ohio, he announced this latest violation of the U.S. Constitution with a load of misinformation, the likes of which Mr. Josef Goebbels would surely be proud of: “Today, I’m appointing Richard as America’s consumer watchdog,” Obama told the crowd. “That means he’ll be in charge of one thing: looking out for the best interest of American consumers. His job will be to protect families like yours from the abuses of the financial industry. His job will be to make sure you’ve got all the information you need to make important financial decisions.”

“Looking out for the best interest” of whom Mr. President? George Soros? Michael Dell? Is that what we are supposed to believe is the “Middle Class” you are “protecting” with this sham? How about when it was recently announced that the bank of America was going to charge debit card fees and the so-called financial reform bill permitted it? Sure they stopped it simply because customers started leaving the bank in droves over it, but it was legal under your new law. What Obama does not want the citizenry to understand is the fact that Richard Cordray will now have unfettered access to the taxpayer’s bank account without any input from Congress. Zero. Nada.

In the article Cordray Can Wait from Investors.com, accessed Jan. 05, 2012, we see the following: (emphasis added)

As Ohio’s attorney general, Cordray’s main focus was making Wall Street pay for the financial crisis. He sued BofA, AIG, Standard & Poor’s, Moody’s and other Wall Street firms on behalf of public-employee pensions. His shakedown netted trial lawyers and the unions they represent for more than $1 billion in settlements and fees.

Most concerning, this wannabe federal bank sheriff is in the back pocket of trial lawyers. The law firm that represented Ohio in the AIG case pumped $125,000 into Cordray’s campaigns. Other firms donated $200,000 to Cordray, who plans to run for Ohio governor one day. The new bureau will spawn more work for trial lawyers as it investigates banks for loosely defined “abusive” practices, including loan price “discrimination.”.

This recess appointment will fund the DNC through crony-trial lawyers for decades to come as was also documented here. Last but not least, from Investors.com we see this tidbit: (emphasis added)

As Democrats set up the CFPB, the director enjoys unprecedented power, reporting only to the president. The agency is housed in the Federal Reserve and funded outside the annual appropriations process (with a startup budget of half a billion dollars). In effect, it’s not accountable to Congress or the American public.
The Senate GOP threatens to filibuster Cordray’s final confirmation vote unless the agency adds a bipartisan panel to check its director. They don’t want to give another activist appointee blank-check authority to go after banks and provide even more grist for class-action lawyers. Someone’s got to stop the shakedown.

More race-based grift for class-action, DNC-donor trial lawyers? Do you mean like this example here: In that info-byte we see that bank of America will dole out $335 million dollars to “Black and Hispanic” borrowers because they were supposedly charged more for home loans. Apparently it doesn’t matter if these “victims” of unfair lending practices were very high-risk borrowers with no proven ability to pay when Democrats and Progressives forced banks to make sure “everyone gets a home regardless of ability to pay” mandates that caused the housing crisis in the first place. NOTE: With Blacks and Hispanics making up a small portion of the U.S. Population, isn’t it strange that white people are not included in these reparations, I mean settlement? How about Asians? Back to Investors.com for some more truth about Cordray being illegally injected into our government and his agenda:(emphasis added)

The new bureau will spawn more work for trial lawyers as it investigates banks for loosely defined “abusive” practices, including loan price “discrimination. Heading its Office of Fair Lending is Patrice Ficklin, a a black civil-rights lawyers who headed Fannie Mae’s racial grievance unit. She leads a team using new race-based lending data to crack down on banks that apply prudent lending standards equally to minorities.

Richard Cordray and Patrice Ficklin will now be able to dip into the wallets of the American taxpayers, pay trial lawyers that donate to the DNC millions of taxpayer dollars, and further redistribute those stolen tax dollars to DNC voters of their choice without any oversight from Congress. Nothing to see here folks, just move along.

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