Obama to Appoint Cordray to Lead Consumer Watchdog

Originally posted at Fox Business. President Barack Obama plans to bypass Congress and install Richard Cordray as head of the country's new consumer financial watchdog, picking an election-year fight with Republicans who have blocked the nominee. The move to use a recess appointment, announced by the White House on Wednesday, is being cheered by Democrats and liberal advocacy groups, but it will inflame already bad relations between the White House and Republicans in Congress. "President Obama, in an unprecedented move, has arrogantly circumvented the American people," Senate Republican Leader Mitch McConnell said in a statement. Continue reading this article here.