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Associated PressPresident Barack Obama is pressing congressional Republicans to approve his pick to head a new consumer watchdog office, promising he won't back down on his effort to protect middle-class Americans from deceptive business practices and prevent another financial meltdown.
Every day America has to wait for a new consumer protection watchdog is another day that dishonest businesses can target and take advantage of students, seniors and service members," Obama said Saturday in his weekly radio and Internet address. "So I refuse to take `no' for an answer. Financial institutions have plenty of high-powered lawyers and lobbyists looking out for them. It's time consumers had someone on their side."
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Obama also reiterated his push for congressional Republicans to extend the Social Security payroll tax cut, which is set to expire at the end of the year.
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"No one should go home for the holidays until we get this done," Obama said. "So tell your members of Congress, `Don't be a Grinch.' Tell them to do the right thing for you and for our economy."
Read more:
http://www.boston.com/news/nation/washington/articles/2011/12/10/obama_presses_gop_on_consumer_watchdog_delay/
http://www.reuters.com/article/2011/12/10/us-obama-cordray-idUSTRE7B71NZ20111210?feedType=RSS&feedName=politicsNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Reuters%2FPoliticsNews+%28News+%2F+US+%2F+Politics+News%29President Obama says won't take "no" on consumer watchdogPresident Barack Obama on Saturday said he will not take "no" for an answer on his nominee to head a new consumer watchdog agency, despite Republicans vowing to block him.