President Obama’s nomination of former Ohio Attorney General Richard Cordray to direct the Consumer Financial Protection Bureau is comparable to something Joseph Stalin would have done, according to Sen. Lindsey Graham (R-S.C.).
“This consumer bureau that they want to pass is under the Federal Reserve,” Graham said, TheStateColumn.com reports. “No appropriation oversight, no board. It is something out of the Stalinest era.”
Graham defended his party’s decision in the Senate to block Cordray’s confirmation due to the unprecedented power the bureau would yield.
“The reason Republicans don’t want to vote for it is we want a board, not one person, making all the regulatory decisions, and there’s no oversight under this person,” Graham said, according to TheStateColumn.com. “He gets a check from the Federal Reserve. We want him under the Congress so we can oversee the overseer."
Graham’s criticism of Obama during his Sunday appearance on NBC’s “Meet The Press” extends beyond the CFPB and Corday.
According to Graham, Obama’s policies are the reason “hard-working American’s are going to lose now.”
Graham predicts that as a result of these policies, Obama will not win re-election for a second term in the White House and will be replaced by a Republican.
Obama has defended his actions and accused Republicans of “playing politics,’ TheStateColumn.com reports.