New Consumer Chief Cordray is as Corrupt as President Appointing Him

In what has become Obama’s typical way of bypassing Congress and assuming dictatorial methods, the President appointed Richard Cordray as head of the newly formed Consumer Financial Protection Bureau.  The appointment was made while Congress was gone for the holiday recess, thus making this a recess appointment that by definition does not require Senate approval.

If Obama felt it necessary to bypass Senate approval, then one has to wonder what it is about Cordray that would make the Senate block the approval.

Richard Cordray, a devoted Democrat, first served in public office as a member of the Ohio House of Representatives.  From there he moved to Solicitor General of Ohio where his actions were not all that dissimilar to those of Supreme Court Justice Elana Kagan, who served as US Solicitor General.  Next Cordray served as Treasure of Franklin County, Ohio and the Treasurer for the State of Ohio, before serving as Ohio’s Attorney General until his defeat to Mike DeWine, who now serves as the state’s Attorney General.

During his time in Ohio’s political arena, Cordray had a close relationship with a group known as the East Side Organizing Project.  He has funneled funds to this group who has a reputation of storming banks and throwing plastic shark on the lawns of private homes.  When questioned about Cordray’s involvement, the leader of the ESOP said that Cordray specifically approved of the tactics.

Cordray was also known for filing voluminous amounts of lawsuits on behalf of the State of Ohio.  Many of these suits were against big banks.  In many of these suits, he would hire big name trial lawyers on behalf of the state and pay them with state monies.  Many of these same trial lawyers were among Cordray’s more generous campaign donors.

Furthermore, a number of these suits were so frivolous that judges threw a number of them out, but not before the hired trial lawyers were able to collect at least part of their promised fees.

It is also no secret that Cordray gave favors to his big trial lawyers friends.  It’s too bad they weren’t able him to be re-elected last year as Ohio’s Attorney General.  Being unemployed for a year may have led him to seek Obama’s appointment because after all, Cordray was a chip off the old block so to say.

And what can American consumers expect from their new Consumer Financial Protection Bureau and its Chief?  If Cordray is true to form and follows his own track record, we will see favoritism and huge wastes of federal monies on a number of frivolous actions.  The only ones that will be truly helped and served will probably be more big money lawyers as he’s always done.