Defying opposition in Congress, Obama named Cordray as acting head of the Consumer Financial Protection Bureau (CFPB).
He also made three other appointments to fill vacant seats on the National Labour Relations Board.
The announcement of these appointments, when the Senate is in recess, drew angry response from Republican lawmakers.
During
his tour to Ohio, Obama announced his intent to recess appoint four
individuals to fill key administration posts that have been left vacant
including, Director, Consumer Financial Protection Bureau.
The other three are members of the National Labour Relations Board: Sharon Block, Terence F Flynn, and Richard Griffin.
"When
Congress refuses to act, and as a result, hurts our economy and puts
our people at risk, then I have an obligation as President to do what I
can without them.
I've got an obligation to act on behalf of the American people," Obama said.
"And
I'm not going to stand by while a minority in the Senate puts party
ideology ahead of the people that we were elected to serve."
"Not
with so much at stake, not at this make-or-break moment for
middle-class Americans. We're not going to let that happen," Obama said.
"This
is an extraordinary and entirely unprecedented power grab by President
Obama that defies centuries of practice and the legal advice of his own
Justice Department."
"The
precedent that would be set by this cavalier action would have a
devastating effect on the checks and balances that are enshrined in our
constitution," he said.
"This position had not been filled for one reason: the agency it heads is bad for jobs and bad for the economy."
"This
action goes beyond the Presidents authority, and I expect the courts
will find the appointment to be illegitimate," Boehner said.
However, the Senate Majority leader, Harry Reid, came out in support of the appointments.
"After
millions of Americans lost their jobs, retirement funds and life
savings in the economic crisis, they asked their elected leaders to rein
in the greed and recklessness on Wall Street that led to the crisis."
"We
listened, and passed a bipartisan law that created a consumer watchdog
to guard against abuses by big banks, abusive mortgage companies, and
unscrupulous lenders," Reid said in a statement.
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