Obama Settles on Choice to Run Consumer Agency

President Obama will nominate former Ohio Attorney General Richard Cordray to head the powerful Consumer Financial Protection Bureau, the Columbus Dispatch reports.

“By picking Cordray, Obama hopes to avoid a bruising Senate confirmation battle that would have occurred had he selected Elizabeth Warren, the Harvard law professor who came up with the idea and ultimately helped to set up the agency.”

Quote of the Day

“I’m not ready to tell you that I’m ready to announce that I’m in. But I’m getting more and more comfortable every day that this is what I’ve been called to do. This is what America needs.”

— Texas Gov. Rick Perry (R), quoted by the Des Moines Register.

Rebekah Brooks Arrested in London

Rebekah Brooks “has been arrested by police investigating allegations of phone hacking by the News of the World and allegations that police officers were bribed to leak sensitive information,” the Guardian reports.

The BBC reports she was arrested “on suspicion of conspiring to intercept communications and on suspicion of corruption allegations.”



Giuliani Plans Different 2012 Campaign

Politico reports that former New York City mayor Rudy Giuliani (R) is still considering a bid for president in 2012 with a campaign styled very differently than his efforts last cycle.

“This time around, Giuliani’s fiscal record as New York City mayor would be the centerpiece. New Hampshire would be the key state in his strategy — as opposed to Florida, where he placed his big bet last time. The focus would be on winning over fiscally minded Republicans and a chunk of the independents who can vote in the state’s open Republican primary, an approach resembling John McCain’s in 2008. The expectation is that without a contested Democratic primary, there will be more independent voters who cast votes in the GOP contest.”

Giuliani is expected to announce his intentions by Labor Day.

Branstad Sees Perry Entering Race After Straw Poll

Iowa Gov. Terry Branstad said that Rick Perry (R), his Texas counterpart, is “seriously considering” entering the Republican presidential race, CNN reports.

Branstad predicted that Perry will jump in “sometime after” the Ames Straw Poll on August 13.

Goldman Sachs Sees High Unemployment Through Election

James Pethokoukis notes Goldman Sachs “dropped an economic bomb” on President Obama’s chances for reelection last night:

“Our forecasts for Q4 and 2012 are under review, but even excluding any further changes we now expect the unemployment rate to come down only modestly to 8 3/4% at the end of 2012… final demand growth has slowed to a pace that is typically only seen in recessions… Moreover, if the economy returns to recession — not our forecast, but clearly a possibility given the recent numbers…”


Kildee Will Not Run for Re-Election

After 35 years in office, Rep. Dale Kildee (D-MI) announced that he will not seek another term in 2012 and will retire, the Flint Journal reports.

House Republicans Brace for Compromise

“Republican leaders in the House have begun to prepare their troops for politically painful votes to raise the nation’s debt limit, offering warnings and concessions to move the hard-line majority toward a compromise that would avert a federal default,” the Los Angeles Times reports.

“GOP leaders turned to their most trusted budget expert, Rep. Paul D. Ryan of Wisconsin, to explain to rank-and-file members what many others have come to understand: A fiscal meltdown could occur if Congress fails to raise the debt ceiling.”

Meanwhile, Politico notes that even as House Speaker John Boehner (R-OH) is slamming Democrats in public, he’s meeting with Democrats to hammer out a deal in private.

The Making of the Huntsman Brand

Wall Street Journal: “He resigned just 11 weeks ago as the U.S. ambassador to China, but already Jon Huntsman has a logo, a musical theme, a small arsenal of promotional videos, a Hollywood narrator and a line of travel mugs, lapel pins, baseball caps and T-shirts emblazoned with the distinctive H of his infant presidential campaign… Mr. Huntsman is trying something different in GOP politics: a campaign based almost entirely on atmospherics. It is, in many ways, the political version of a Ralph Lauren product launch.”


Most Republicans Can’t Name a 2012 Favorite

A new Gallup poll finds that 58% of Republicans and Republican-leaning independents do not express a preference when asked in an open-ended format — with no candidates’ names read — whom they are most likely to support for the party’s 2012 presidential nomination.

Gingrich Campaign Over $1 Million in Debt

Newt Gingrich’s struggling presidential campaign is already more than $1 million in debt, the AP reports.

“The former House speaker’s campaign raised $2.1 million since he got into the race earlier this year. But he spent $1.8 million, and listed $1.03 million in debt, including more than $100,000 in legal fees.”

Why Did Bachmann Quit Her Church?

Rep. Michele Bachmann (R-MN) “has long been a darling of conservative evangelicals, but shortly before announcing her White House bid she officially quit a church she’d belonged to for years,” CNN reports.

Bachmann was asked about her status with the church at the airport, but an aide “quickly hustled her away, noting they were late for a flight.”

The Bachmann campaign declined to immediately respond to a request for further comment.

However, Jack Kilcrease notes she quit her church earlier this year when learning that her church taught that “the office of the Papacy is the Antichrist.”

DeMint Pledges to Block McConnell Plan

Sen. Jim DeMint (R-SC) said he would use “every tool” available to stop Senate Minority Leader Mitch McConnell’s (R-KY) fall-back proposal for the debt-ceiling negotiations, The Hill reports.

Said DeMint: “I’ll use every tool in Senate to stop passage of ‘Plan B’ blank check debt limit increase. No Republican was elected to give President Obama more power and that’s what this plan does.”

Perry’s Democratic Roots

Texas Gov. Rick Perry (R), “a no-apologies conservative known for slashing government spending and opposing all tax increases, is about as Republican as you can get. But that wasn’t always the case,” the Texas Tribune reports.

“Perry spent his first six years in politics as a Democrat, in a somewhat forgotten history that is sure to be revived and scrutinized by Republican opponents if he decides to run for president.”

Explore posts in the same categories: Candidates, National, Politics

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