John Yoo has some advise for businesses who run afoul of the new Consumer Financial Protection Bureau and it’s newly appointed head, Richard Cordray- Just ignore any ruling made by that entity on the grounds of unconstitutionality. He even made an offer to defend the first case;
Some think me a zealous advocate of executive power, and often I am when it comes to national security issues. But I think President Obama has exceeded his powers by making a recess appointment for Richard Cordray (whom I respect and have no problems with as a nominee) to head the new Consumer Financial Protection Bureau. Any private party can challenge this nomination by refusing to obey any regulation issued by the agency as the act of an unconstitutional officer. As a result, this may be the first time that Richard Epstein and I get to represent someone in court together!
I think Obama really stepped on his dick this time, not stepped on it in the normal sense, as he’s done in the past, but really stomped on it and ground it into the dirt. It’s setting a bad precedent, but then, Obama has been doing that his whole term. When a Republican President does the same thing, the Dems aren’t going to be able to cry foul and will just have to lay down and take their royal screwing just like the GOP is right now.