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Richard Cordray On Whether He Was Legally Appointed: ‘There Are Lawyers Who Are Digging Into That’

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Richard Cordray, the newly-appointed — and rather controversial — director of the Consumer Financial Protection Bureau, stopped by the set of Morning Joe Wednesday to discuss his new role, and found himself treated to a little trip down memory lane.

Back in 1987, Cordray was winning big on a little game show called Jeopardy, one time by answering a fairly easy (snappin’ my suspenders smugly, folks) question (or answer, really) comparing bushido and chivalry. The four-time winner took home $40,303 for his trouble. He also had really great hair.

RELATED: Rush Limbaugh: ‘Lawless’ Obama Is ‘Taking A Pee On The Constitution’

“What was the tax rate you paid on that?” joked the panel about his winnings. “115 percent,” he laughed.

“There’s a big battle about whether you were legally appointed or not,” said host Joe Scarborough, turning serious, “because you may not have been a recess appointment. What is your bottom line on that issue?”

Look, I’m going to leave that to others. There are lawyers who are digging into that. My job is to be the director of the Consumer Bureau. It feels to me that director position was long overdue to be filled. We’ve got a lot of work to do for the public, a lot of work to do help these markets function more effectively, and that’s what I’m focused on.

And what would he say to conservatives who argue we don’t even need yet another federal agency?

“Well, we never really had a federal agency that had that job,” said Cordray. “It was kind of broken out among 7, 8 agencies, which meant nobody focused on it. We had the mortgage market that was badly broken, which led to the financial meltdown. We all know how badly that hurt so many Americans, whom had nothing to do with it but lost jobs, lost homes, had their communities affected. So if we can make sure these markets function in a fair and transparent manner, I think businesses, the responsible businesses, are going to welcome that.”

Have a look, via MSNBC:

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  • Pablo

    So if we can make sure these markets function in a fair and transparent manner…

    That’s a mighty big if, Rich. It’s also what the SEC was supposed to be doing when they were busy watching porn.

  • Anonymous

    The question is, can Obama declare Congress to be in recess, or is that something Congress must do?

  • Anonymous

    It’s legal, get over yourself. Bush did it and there was no outcry from the same phonies crying foul now. 

  • Anonymous

    If ignorance is bliss, you must be the happiest person on earth.

  • Anonymous

    I think I struck a nerve?

  • The Real Royal Emperor

    I’m not sure that the SEC’s jurisdiction is broad enough to address these issues, Paulie.

  • Gloves Michael Donahue

    Obama is delghted every chance he gets to shred the Consitution. Even the Senate Dems, 50 of them, agree that the Senate was not in recess. This will be decided in court, and wind up biting Obama in his Schumer.

  • http://twitter.com/grimcity Neal Boyd

    Pretty sure the guy could be called interim if the appointment was made during session.

  • Pablo

    Bush didn’t do it while Congress was in session, including pro-forma session.

  • Pablo

    I think you hit your head.

  • Anonymous

    Being in session for 30sec counts for ya. Keep fighting for a lost cause, lets see where it gets ya.

  • Anonymous

    No president has ever done it. Stop lying.

  • Duke Chesnut

    Can the president declare the congress in recess? That’s a very good question,Can the congress declare the president not native born, don’t go there. Can Obama serve his prison sentence with his pals Tony Rezco, and Blago, maybe. Can Obama have the first presidental library located within a federal prison, definitly.

  • Anonymous

    It’s a lost cause in the sense that a legal case can’t possibly reach conclusion before the next election, but you can be sure that the GOP nominee will use this as ammunition to prove how Obama regularly tramples the Constitution.

  • Pablo

    It worked for Harry Reid.

  • Pablo

    If he isn’t confirmed, he doesn’t have the powers of the Director, as per the law.

  • Gloves Michael Donahue

    Obama should have tried to appoint Alex Trebek, who knows more than any contestant.

    Or Chuck Barris, who has a CIA background.

  • http://mediamatters.org/ Leedog

    Republicans will stop at nothing to continue to see American consumers get screwed by big businesses in this country!!

    Republicans don’t work for their constituents, they work for corporations!!

  • http://pulse.yahoo.com/_NPUP22FNTPVCXRUMWJEURGQGD4 JonasP

    Can Duke Chestnut get his cell moved away from Obama to the Aryan Brother’s part of the prison

  • Duke Chesnut

    Does Jonas P wear his pants on the ground?

  • Anonymous

    Harry Reid re-implemented the process to deny Bush from making appointments as Obama just did, and Bush did not attempt any appointments while the Congress was in pro-forma session. 

    You need to check the facts.  Your post is another example of someone “creaing their own facts.”

  • Anonymous

    This just shows that you’re another clueless Republican

  • http://twitter.com/grimcity Neal Boyd

    Well, that depends on the recess issue which apparently hasn’t been resolved.

  • Jon Weiss

    I don’t care is he was appointed “legally” or not, my question is why was he appointed at all?  Obama says he wants a “smaller more efficient government” so why did he create an entirely new government agency to do what we already have two agencies are already allegedly doing.  The FTC and and Consumer Protection Agency are allegedly “looking out for the consumer” but Obama seems to think that another agency can do it even better.  Next thing up, Obama will appoint the “Department of Redundancy Department” to oversee the rest of the government.

  • Jon Weiss

    Democrats don’t work for their constituents, they all think that the masses work for them.  

    I was informed of this one time by Pelosi’s staffers, who stated to me, “She doesn’t have to answer you, you work for her.”

  • Artie

    Lost causes are the only ones worth fighting for.

  • http://profiles.yahoo.com/u/LSADKWIXN27WEVKGOXJ73SHXWU Jeff

    When did Bush (and please tell us which one) make a recess appointment when Congress was in session? When did any president do it? Even if he did, was it right?

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