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The White House and congressional Republicans traded barbs Thursday over the recess appointment of Richard Cordray at the CFPB.
January 5 -
The former special inspector general for the Troubled Asset Relief Program hammered the Obama Administration and Treasury Department Tuesday night at a panel discussion on the foreclosure crisis, saying fears of a political backlash led to the administration's tepid response to the housing crisis.
December 14 -
The special inspector general for Tarp will wrap up his two-year-plus tour on Wednesday, and he has nothing good to say about Treasury's implementation of the $700 billion bailout.
March 27
Neil Barofsky is not letting the Obama administration off the hook.
The president's recess appointment of Richard Cordray to run the CFPB will create
He argued that those legal uncertainties "could have been avoided, had they acted more decisively earlier" by nominating
Barofsky, a former assistant U.S. attorney who is now a senior fellow at New York University's School of Law, has been
But a year later, "absolutely nothing has been done … It seems like nothing has changed since I stepped down," Barofsky said on Friday.
"It's remarkable how little you hear about TARP" since then, he said. The administration has "done almost nothing to deal with the foreclosure crisis."
The White House appointed Cordray after several months marked by swelling public anger against the banking industry, as manifested by Occupy Wall Street and related protests.
Obama acknowledged that anger on Wednesday, announcing the recess appointment as an effort
But Barofsky, who calls the CFPB fundamentally "a good idea," on Friday dismissed Cordray's recess appointment as a political move without real concern for distressed homeowners or other consumers.
"The administration's actions have shown an inherent bias towards big banks and Wall Street," he said.