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| Richard Cordray |
Obama accused the Senate Republicans to block the appointment of Cordray because they wanted to weaken the law of Dodd-Frank financial regulation that was created by the agency.
"When Congress refuses to act and as a result hurts the economy and put people at risk, that's when I have an obligation as president to do what we can without them," Obama said in his speech yesterday in Ohio .
Cordray President nominated to be the first director of that office in July, nearly a year after the enactment of a law regulating Dodd-Frank that created the agency, and Republicans blocked the confirmation last month.
Republican leaders in Congress criticized the decision and said it could jeopardize other confirmations of nominees. This move could both trigger a legal fight in an election year.
Obama made the announcement in Ohio where he was Attorney General Cordray from 2009 to 2011 and treasurer before that. This state will be key to the presidential race in which Obama played his reelection.
U.S. Small Business continue to create jobs
"When Congress refuses to act and as a result hurts the economy and put people at risk, that's when I have an obligation as president to do what we can without them," Obama said in his speech yesterday in Ohio .
Cordray President nominated to be the first director of that office in July, nearly a year after the enactment of a law regulating Dodd-Frank that created the agency, and Republicans blocked the confirmation last month.
Republican leaders in Congress criticized the decision and said it could jeopardize other confirmations of nominees. This move could both trigger a legal fight in an election year.
Obama made the announcement in Ohio where he was Attorney General Cordray from 2009 to 2011 and treasurer before that. This state will be key to the presidential race in which Obama played his reelection.
U.S. Small Business continue to create jobs
Small businesses in the United States increased the working hours of their workers, further evidence that the labor market is strengthening. In addition, employees reported an increase in wages last month, said the payroll processing company Intuit. The increase in December compared with November figure revised up to 70,000 new jobs, originally estimated at 55,000. The unemployment rate of 8.6% in that month was the lowest in two years.
