Double Jeopardy! âoeWho is Richard Cordray?â
With all that in the balance, hereâs why we think that America the Purple should be united in Richardâs corner. His background and life story will tell us a lot about what kind of person he is:
Do you want to super size that? Cordrayâs first job was working at a McDonald's earning minimum wage. Do you know any Republicans that flipped burgers and flung french fries?
Iâll take economics for $500 Mr. Trebek! Cordray is a 5 time undefeated champion of âoeJeopardyâ and a semifinalist of the âoeTournament of Championsâ. In 1987 his total winnings from the show was $45,303. He used most of the money to pay some of his college tuition and the rest to buy a used car. Can you imagine being a 5 time âoeJeopardyâ champion? The man is a genius!
Did we mention heâs smart? He earned his masters degree in economics at Oxford University, and then went on to earn his Juris Doctor degree at the University of Chicago Law School. With those economic chops and legal training, he'll likely pack quite a punch when leveling the playing field for American consumers.
Past Battle's Fought and Won! Heâs got a proven track record. As attorney general of Ohio in 2009-2011, he filed a class-action lawsuit against Bank of America, arguing that it concealed serious weaknesses from shareholders, including billions of dollars in losses, when it asked them to vote on its acquisition of Merrill Lynch. He also secured a $725 million settlement from AIG for bid rigging.
Richard Cordray's stint as Ohio's attorney general shows that this isn't his first rodeo when it comes to fighting big banks and businesses. Imagine what he could do with the full power of the Consumer Financial Protection Bureau behind him?
According to Deputy Treasury Secretary, Neil Wolin, âoeThe agencyâs purpose is to âoeaddress unfair, deceptive, and abusive practices by payday lenders, private student loan providers, debt collectors, and other nonbank lenders, including certain mortgage originators and services.â
That means this burger flipping attorney general from Ohio will have a fighting chance at correcting all of the financial exploitation that has hit American consumers. From the fees you face from your bank, your credit cards, your student loans, and home mortgage provider.
Republicans often warn against class warfare, but their blind support of an unregulated and âoewild-westâ financial industry belies their commitment of protecting the ability of the few to profit on the many.
Richard Cordray will now fight toe-to-toe against unfair lending practices. We should all hope that he will float like a butterfly and sting like a bee. Otherwise, the financial industry that took down the global economy will have the green light to keep knocking us all out.