By Seth Maloney | 13 comments
Republicans cave over threat of "nuclear option"
It seems like every single headline coming out of the Senate this week has been some variation of that title, and the brinkmanship that nearly brought Majority Leader Reid to use the "nuclear option" (gutting the filibuster) against the GOP's obstructionism.
While the threat of filibuster reform was enough to move the GOP to end its filibuster on a few Executive Branch appointments, it wasn't enough to actually change the filibuster.
So who came out on top? Elizabeth Warren, that's who.
Richard Cordray of Ohio has finally been confirmed as the boss of the Consumer Financial Protection Bureau after a very protracted Senate fight to have him seated. The CFPB was created by the Dodd–Frank Wall Street Reform and Consumer Protection Act (usually just called Dodd-Frank), and Cordray's confirmation ends the 700 day GOP blockade.
How is Warren connected to the CFPB? She basically oversaw its creation and organization. Her work on it made her a widely popular choice to be nominated as the director, but she was ultimately rejected due to overwhelming Republican opposition (read: she scared the hell out of them).
Warren began her fight for the CFPB in 2009, a time when the Great Recession was tearing apart the economy. Now? She not only got the CFPB, but she was presiding over the Senate when Cordray's nomination passed. Talk about icing on the cake.
The fighting in the Senate was definitely a boost for progressives, but it left the filibuster unchanged. We got the CFPB, we got the nominations, but we still need comprehensive filibuster reform.
Categories: Economy and Jobs
Commenting on this post has been closed.