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MR. BROWN: THANK YOU, MR. PRESIDENT. I -- IT CEASES -- NEVER
CEASES TO AMAZE ME, MR. PRESIDENT, TO HEAR MY COLLEAGUES WHOSE
FIRST LOYALTY IS TO WALL STREET BANKS, WHO CONTINUE TO MAKE
EXCUSES FOR BEING AGAINST -- AGAINST PUTTING A CONSUMER COP ON
THE BEAT. THEY TALK ABOUT BUDGET -- THIS IS AN OFFICE THAT WILL
BE A FEW HUNDRED MILLION DOLLARS OFFICE, THIS CONSUMER
PROTECTION -- THIS CONSUMER COP ON THE BEAT BUT THIS -- THIS
{10:23:46} (MR. BROWN) { NOT AN OFFICIAL TRANSCRIPT }
CONSUMER COP ON THE BEAT HAS TO LOOK AT TRILLIONS OF DOLLARS IN
MORTGAGES, HAS TO PROTECT CONSUMERS WHEN THERE ARE $30 BILLION
IN OVERDRAFT FEES ALONE THAT BANKS ARE CHARGING, WHEN MANY
TIMES THOSE OVERDRAFT FEES ARE BECAUSE CONSUMERS SIMPLY CAN'T
FIGURE OUT THE FINE PRINT AND DON'T UNDERSTAND THE TERMS OF THE
AGREEMENT. IN THE END, AGAIN, PEOPLE ON THIS FLOOR, THEIR
SPECIAL INTEREST FRIENDS IN THE CONGRESS, THEIR WALL STREET
BANK -- THE FRIENDS OF WALL STREET BANKS, THE FRIENDS OF THESE
INTEREST GROUPS THAT CONTINUE TO FLEECE THE AMERICAN PEOPLE, IF
{10:24:19} (MR. BROWN) { NOT AN OFFICIAL TRANSCRIPT }
WE HAD HAD RICH CORDRAY OR ELIZABETH WARREN FOR THAT MATTER,
THE CONSUMER COP ON THE BEAT, WOULD WE HAVE HAD THESE KIND OF
FORECLOSURES IN PLACES LIKE CLEVELAND AND DAYTON, THESE
FLY-BY-NIGHT FROM AMERIQUEST IN NEW CENTURY AND TAKING
ADVANTAGE? I'M NOT SURE WE WOULD HAVE. BUT MY REPUBLICAN
COLLEAGUES, MY COLLEAGUES WHO ALWAYS DO THE BIDDING -- NOT
ALL OF THEM BUT MANY OF THEM ALWAYS DO THE BIDDING OF THESE
SPECIAL INTEREST GROUPS THAT HAVE INFLICTED FAR TOO MUCH DAMAGE
ON THIS ECONOMY. {10:24:53} (MR. BROWN) { NOT AN OFFICIAL TRANSCRIPT
} NOW, I HEAR ALL OF THIS, IF WE JUST WOULD
MAKE SOME CHANGES IN THIS AGENCY. MR. PRESIDENT, I TALKED TO THE
SENATE HISS STONE. I'VE HEARD THE ARGUMENTS, IF WE CHANGED THE
AGENCY, I'D VOTE FOR IT. I TALK TO THE SENATE HISTORIAN WHO
SAID NEVER IN HISTORY HAS BUN ONE POLITICAL PARTY TRIED
TO BLOCK THE NOMINATION OF A PRESIDENTIAL APPOINTEE BASED
ON WANTING TO CHANGE THE AGENCY. I KNOW RICH CORDRAY BETTER
THAN ANYBODY IN THIS INSTITUTION. HE IS FROM MY STATE, HE
WAS THE ATTORNEY {10:25:26} (MR. BROWN) { NOT AN OFFICIAL TRANSCRIPT
} GENERAL, THE STATE TREASURY, COUNTY TREASURY.
I'VE KNOWN RICH OVER 20 YEARS. I KNOW THAT HE'S QUALIFIED.
MY COLLEAGUES HERE ON BOTH SIDES SAY HE'S QUALIFIED BUT THEY
SAY, WELL, WE WANT TO CHANGE THE AGENCY. WELL, THE AGENCY, WE WORKED
WITH REPUBLICANS TO CHANGE THIS AGENCY AS IT WENT THROUGH THE
PROCESS DODD-FRANK. THEY KEEP SHIFTING THE GOAL POSTS.
IN ORDER TO ACCOMMODATE REPUBLICAN CONCERNS WE MATE THE
CFPB A BUREAU AT THE FEDERAL RESERVE. MANY OF US THOUGHT IT
SHOULD BE TOTALLY INDEPENDENT. WE WERE WILLING TO MAKE THAT
CONCESSION IN ORDER TO GET REPUBLICAN SUPPORT. THEY THEN AFTER
WE DID THAT ASKED {10:25:59} (MR. BROWN) { NOT AN OFFICIAL TRANSCRIPT
} FOR REGULAR G.A.O. AUDITS OF THE BOOKS. THEY
GOT THEM. AND THE G.A.O. SAID THAT THE CFPB PASSED WITH FLYING
COLORS. THEN THEY SAID WE DON'T LIKE ELIZABETH WARREN, GIVE
US SOMEBODY ELSE. ELIZABETH WARREN WITHDRAW, SHE WAS A -- WITHDREW,
SHE WOULD HAVE BEEN VERY GOOD AT THIS. WE'RE RAY RE-PLACING
HER, THE PRESIDENT IS WITH RICHARD CORDRAY FROM OHIO.
HE WILL DO THIS JOB WELL. THEN AFTER HE'S APPOINTED THEY SAY,
WELL, HE'S -- RICHARD CORD DELAY HAS SUPPORT FROM BANKS
AND CREDIT UNIONS AND CONSUMER GROUPS. THAT'S STILL NOT GOOD ENOUGH.
THEY ASKED THE {10:26:34} (MR. BROWN) { NOT AN OFFICIAL TRANSCRIPT
} PRESIDENT NOT TO RECESS APPOINT A DIRECTOR.
WE -- THE PRESIDENT AGREED TO THAT. THEY'RE MOVING THE GOAL POSTS.
THAWR YOU NOW THEY'RE SAYING THEY DON'T -- NOW THEY'RE SAYING
THEY WON'T APPROVE ANYONE AS THE DIRECTOR OF THE CONSUMER
BUREAU NALS WE CHANGE THE ARE BUREAU -- UNLESS WE CHANGE
THE BUREAU. WE'RE GOING TO NOT ALLOW A DIRECTOR TO BE IN PLACE
UNLESS WE CAN WEAKEN THIS AGENCY. SENATOR REED FROM RHODE
ISLAND SAID, WOULD WE NOT APPOINT A DIRECTOR OF THE FOOD AND
DRUG ADMINISTRATION IN THE FUTURE UNTIL WE ROLLED BACK ALL FOOD
SAFETY LAWS? {10:27:09} (MR. BROWN) { NOT AN OFFICIAL TRANSCRIPT
} ARE WE NOT GOING TO PROTECT A CONSUMER -- A
CONSUMER PRODUCTS BUREAU IN THE GOVERNMENT, IN THE DEPARTMENT
OF COMMERCE UNTIL WE ROLL BACK CHILD TOY SAFETY LAWS?
I MEAN THAT MAKES NO SENSE. THIS WAS VOTE -- MORE THAN 60
VOTES, 61 OR 62, IF I RECALL, A SUPERMAJORITY IN THIS CONGRESS,
TWO YEARS AGO, WE ALLOWED ALL KINDS OF AMENDMENTS, WE -- WE
ACCEPTED MANY CHANGES THAT REPUBLICANS WANT, BUT IN THE END,
IT'S A CHOICE. ARE WE FOR CONSUMERS OR ARE WE FOR WALL STREET?
WELL, YOU KNOW WHO IT IS. ALL WE'RE ASKING, I'M NOT ASKING MY
{10:27:43} (MR. BROWN) { NOT AN OFFICIAL TRANSCRIPT }
COLLEAGUES TO VOTE FOR HIM. I'M ASKING FOR MY COLLEAGUES TO LET
US HAVE AN UP-OR-DOWN VOTE. JUST LET US VOTE ON IT. DON'T
FILIBUSTER, DON'T BLOCK THE VOTE. UNDERSTAND THAT THIS IS
--THIS IS A VOTE COMING UP THAT'S TO BREAK A FILIBUSTER, TO
BREAK A REPUBLICAN FILIBUSTER WHERE REPUBLICAN SENATORS, ALMOST
ALWAYS ARE FLAKING FOR WALL STREET AND THEY DO THAT, IT NEVER
CEASES TO AMAZE ME, MR. PRESIDENT. ALL WE ASK IS AN UP-OR-DOWN
{10:28:17} (MR. BROWN) { NOT AN OFFICIAL TRANSCRIPT }
VOTE. VOTE YES ON CLOTURE SO WE CAN HAVE AN UP-OR-DOWN VOTE AND
FOR -- FOR ATTORNEY GENERAL CORDRAY. I YIELD THE FLOOR AND ASK
FOR A YES VOTE.