January 5, 2012
CATO’S ROGER PILON: “All of Obama’s appointments yesterday are illegal under the Constitution. And, in addition, as too little noted by the media, his appointment of Richard Cordray to head the Consumer Financial Protection Bureau (CFPB) is legally futile. Under the plain language of the Dodd-Frank Act that created the CFPB, Cordray will have no authority whatsoever.”
UPDATE: A lawyer-reader emails: “If Richard Cordray were Sarah Palin, someone would file a qui tam action against him when he gets his first paycheck, and someone in Ohio would file a grievance with the Ohio Supreme Court’s Attorney Disciplinary Counsel seeking sanctions for Cordray’s clearly unconstitutional actions.” Well, not so much if Richard Cordray were Sarah Palin, as if Republicans acted like Democrats. Maybe they should give it a try — the Dems seem to enjoy it. And they did manage to prevent a Palin candidacy through sheer harassment.