The battle over the future of the new financial watchdog Office increased Thursday with Senate Republican blocked the confirmation of President Barack Obama named head of the Office and Obama fight with the appointment of a candidate when the possibility of holding a Congress at the break.
Senate Republicans are near unanimous in voting to stop former Ohio Attorney General Richard Cordray, became Director of the consumer financial Protection Agency, their agents say has too much power and too little accountability.
Voice direct consequences. Without a Director, a body designed to protect consumers from excesses behind the financial crisis of 2008 is able to operate at full power.
Republicans say that until the Obama administration agreed to the changes in the body, they will still block the vote for President from taking over.
Obama said immediately after the election that there is no reason to reject Cordray top. He did not rule out the promise of a break, where the President makes appointments to government posts when the temporary Congress is not in session. Under such a move, the appointee may serve until the end of the next session of the Congress, which will be the end of 2012.