The Hill News

President Obama denounced a vote in the Senate Thursday that blocked the appointment of former Ohio Attorney General Richard Cordray to head the Consumer Finance Protection Bureau, and called again for Congress to pass an extension of the payroll tax cut and unemployment benefits before leaving for the holidays.

"There is no reason that Mr. Cordray should not be nominated and should not be doing his job right away," Obama said.

"This makes absolutely no sense. Consumers across the country understand that part of the reason we got into the financial mess we did was because regulators were not doing their jobs," he continued.

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