President Obama Speaks to Environmental Protection Agency Staff (Video/Transcript)

Remarks by the President to EPA staff

Andrew W. Mellon Auditorium

Washington, D.C.

THE PRESIDENT: Thank you! Thank you, EPA! (Applause.) Thank you, everybody. Thank you so much. It is wonderful to see you. It is great to see you. Thank you, thank you.

Now, everybody can have a seat. I know Lisa is making you guys all stand up. (Laughter.) But you can all relax.

It is wonderful to be here with all of you. Thank you so much for all the great work you do. I want to first acknowledge your outstanding Administrator, Lisa Jackson. (Applause.) She has done an extraordinary job leading this agency. But here’s what I want all of you to know: Not only is she good on policy, not only is she tough and able to present the EPA’s mission so effectively to the public, but she also has your back. (Applause.) She is an advocate on behalf of all the people who work so hard here at the EPA. And so you should know that your boss loves you, even if she doesn’t always show it, I don’t know. (Laughter.)

The main reason I’m here is simple: I just want to say thank you. I want to say thank you to each and every one of you, because the EPA touches on the lives of every single American every single day. You help make sure that the air we breathe, the water we drink, the foods we eat are safe. You protect the environment not just for our children but their children. And you keep us moving towards energy independence.

And it is a vital mission. Over the past three years, because of your hard work, we’ve made historic progress on all these fronts. Just a few weeks ago, thanks to the hard work of so many of you, Lisa and I was able to announce new common-sense standards to better protect the air we breathe from mercury and other harmful air pollution. And that was a big deal. (Applause.) And part of the reason it was a big deal was because, for over 20 years, special interest groups had successfully delayed implementing these standards when it came to our nation’s power plants. And what we said was: “Enough.” It’s time to get this done.

And because we acted, we’re going to prevent thousands of premature deaths, thousands of heart attacks and cases of childhood asthma.

There are families that are going to be directly impacted in a positive way because of the work that you do. Because you kept fighting -- and some of you have been fighting this fight for a long time, long before I was here and long before Lisa was here. And so your tenacity and stick-to-itness is making a difference.

Because of you, across the board, we’re cutting down on acid rain and air pollution. We’re making our drinking water cleaner and safer. We’re creating healthier communities. But that’s not all. Safeguarding our environment is also about strengthening our economy. I do not buy the notion that we have to make a choice between having clean air and clean water and growing this economy in a robust way. I think that is a false debate. (Applause.)

Think about it: We established new fuel economy standards, a historic accomplishment that is going to slash oil consumption by about 12 billion barrels, dramatically reduces pollution that contributes to climate change, and saves consumers thousands of dollars at the pump, which they can then go spend on something else.

As part of the Recovery Act, you cleaned up contaminated sites across the country, which helped to rid neighborhoods of environmental blight while putting Americans back to work.

We don’t have to choose between dirty air and dirty water or a growing economy. We can make sure that we are doing right by our environment and, in fact, putting people back to work all across America. That’s part of our mission.

When we put in place new common-sense rules to reduce air pollution, we create new jobs building and installing all sorts of pollution-control technology. When we put in place new emissions standards for our vehicles, we make sure that the cars of tomorrow are going to be built right here in the United States of America, that we’re going to win that race.

When we clean up our nation’s waterways, we generate more tourists for our local communities. So what’s good for the environment can also be good for our economy.

Now, that doesn’t mean that there aren’t going to be some tensions. That doesn’t mean that there aren’t going to be legitimate debates that take place. That doesn’t mean that it’s not important for every single one of us to think about how can we make sure that we are achieving our goals in the smartest way possible, in the most efficient ways possible, in the least bureaucratic ways possible, in the clearest ways possible. That’s also part of our mission.

There’s not a federal agency that can’t get better and be smarter in accomplishing our mission, and we have an obligation every single day to think about how can we do our business a little bit better. How can we make sure the taxpayers are getting every dime’s worth that they’re paying in order to achieve these important common goals that we have?

But I believe we can do it, and you’ve shown me that we can do it over these last three years. So I could not be prouder of the work that you all do every single day as federal employees. I know the hours can be long. I know that sometimes spending time getting these policies right means less time at home than you’d like, and you’re missing birthday parties, or you’re missing a soccer game, and the spouse is not happy with you. I know a little bit about that sometimes. (Laughter.) I know these jobs are demanding.

But I also know what compelled you to enter public service in the first place -- and that’s the idea that you could make a difference; that you could leave behind a planet that is a little cleaner, a little safer than the one we inherited.

And I have to tell you that part of why I get excited when I see some of the work that you’re doing is because our next generation is so much more attuned to these issues than I was when I was growing up. I can tell you when I sit down and I talk to my kids, probably the area where they have the most sophisticated understanding of policy is when it comes to the environment. They understand that the decisions we make now are going to have an impact on their lives for many years to come. And their instincts are right. So your mission is vital.

And just think of what this agency has been able to do over the last four decades. There’s so many things we now take for granted. When I hear folks grumbling about environmental policy, you almost want to do a Back to the Future -- (laughter) -- kind of reminder of folks of what happens when we didn’t have a strong EPA. The year before President Nixon created the EPA, the Cuyahoga River was so dirty from industrial pollution and oil slicks that it literally caught on fire. In my hometown, the Chicago River -- you probably could not find anything alive in there -- (laughter) -- four decades ago. Now it’s thriving -- to the benefit of the city. Today, because of your work, 92 percent of Americans have access to clean water that meets our national health standards.

Before the EPA was created, our cars were spewing harmful lead pollution into the air, with all sorts of impacts, especially on children. Today, because of your work, air pollution is down by more than half, and lead pollution is down more than 90 percent from a generation ago.

So all of you, and all of those who served before you, have made a difference. Our environment is safer because of you. Our country is stronger because of you. Our future is brighter because of you. And I want you to know that you’ve got a President who is grateful for your work and will stand with you every inch of the way as you carry out your mission to make sure that we’ve got a cleaner world. (Applause.)

So, thank you. God bless you. God bless the United States of America. Thank you. (Applause.)

President Obama Honors the Dallas Mavericks (Video/Transcript)

Remarks by the President Honoring the 2011 NBA Champion Dallas Mavericks

East Room

THE PRESIDENT: Hello, everybody! Everybody please have a seat, have a seat. Welcome to the White House, and congratulations to the world champion Dallas Mavericks. (Applause.) Obviously we got some Texas people here. (Applause.)

This was the Mavericks’ first title, so I want to start by recognizing everybody who stuck with the team through good times and through bad -- from Don Carter, the original owner, to the arena staff, to all the fans back home.

We’ve got some members of Congress who’ve waited a long time for this -- (laughter) -- as well as my Trade Representative, Ron Kirk, who happens to be a former mayor of Dallas. (Applause.)

Of course, none of this would be possible if it hadn’t been for the shy and retiring owner -- (laughter) -- of the Dallas Mavericks, Mr. Mark Cuban. (Applause.) So not only did Mark help put together an outstanding group of players and coaches, he was also responsible for making this event happen today. And so we are thrilled to have you guys here.

It turns out that because of the lockout, Dallas wasn’t scheduled to play in Washington this season. That did not sit well with Mark. (Laughter.) He knew this team had worked hard. He wanted them to get all the perks of a world championship, including a visit to the White House. It is tough to say no to Mark Cuban. And so they made a separate trip, and here we are.

And I’m glad it worked out, because this is a special group. Last season, they called themselves the “Bad News Bears,” because from the very beginning, nobody gave them much of a chance. People said that Jason Kidd was too old. And I will say that this is the first time I’ve been with some world champions who are my contemporaries. (Laughter and applause.) They said JJ Barea was too small; that Dirk Nowitzki was too slow. They did say that, Dirk, I’m sorry. (Laughter.) That’s what they said -- they said you had a great jump shot, but --(laughter.) They said Deshawn Stevenson was too crazy. (Laughter.) They said “The Jet” was terrific but they weren’t sure whether that tattoo was such a good idea. (Laughter.)

But these players got it done because they know how good teams win -- not just by jumping higher or running faster, but by finding the open man, working together, staying mentally tough, being supportive of each other, playing smarter.

And that’s how the Mavericks took down some of the league’s best teams -- including the Miami Heat, who got a little bit of attention last year. This was especially sweet for Dirk and Jason who were around the first time that the Mavericks and the Heat met in the finals and lost five years ago.

In fact, the Mavericks played -- before the Mavericks played a single game last season, when Jason got his tattoo, he said, “When you do something as crazy as I did, you’ve got to back it up.” And he did, by the way, score 27 points to help win the deciding Game Six. (Applause.)

Dirk joined the Mavericks 13 years ago as a skinny kid from Germany with what he describes as a “goofy” haircut. (Laughter.) Last year he became the second European player ever to be named Finals MVP. And it wasn’t easy. He bent a finger so badly in Game Two that he had to shoot left-handed. In Game Four, he played through a 101-degree fever. But every time, he came through when it counted. And I think it’s fair to say that we have very rarely seen a better playoff run than Dirk Nowitzki had last year. It was remarkable. (Applause.)

So clearly Dirk is a tough guy. Although the most painful thing may have been his rendition of “We Are the Champions” -- (laughter) -- during the victory celebration. That was -- (laughter) -- you said you worked on that? (Laughter.) Seriously? Okay.

Now, none of these players would have gotten so far without the rest of the folks on this stage. Obviously Jason Kidd now has the second most assists and third most steals in NBA history. (Applause.) It wouldn’t have worked without an outstanding coach. And Coach Rick Carlisle has now won a player as -- or won a title as a player, with Larry Bird in the 80s, has a title as a coach, and then he just informed me that he had also won -- what was it? The Pantoons? What were they called?

COACH CARLISLE: The Patroons, the Albany Patroons.

THE PRESIDENT: The Albany Patroons. Many of you did not know that Rick Carlisle had also won one of those. (Laughter and applause.)

COACH CARLISLE: Minor league.

THE PRESIDENT: It’s a minor league team. (Laughter.)

So these players and coaches will always share a bond that comes with being the best. And it’s a bond they share with the Dallas community, where they do everything from setting up scholarships to helping military families get back on their feet. Today, in fact, they met with some wounded warriors here at the White House. I want to really thank them for taking the time to do that. That means so much to people. (Applause.)

So this team really does have a heart that’s the size of Texas. This was a remarkable run, a great victory, a great vindication for all the effort Mark Cuban put into building this team, and for long-time players like Dirk Nowitzki and long-suffering fans like all of you. (Laughter.)

And so I just want to give a heartfelt congratulations to all of you. I told them that it’s too bad that next year it will be the Chicago Bulls here, -- (laughter) -- but they said I shouldn’t be so confident. So congratulations, everybody. Give it up for the Dallas Mavericks. (Applause.)

Dirk, you got something for me?

MR. NOWITZKI: Yes.

THE PRESIDENT: That’s it. That’s what I’m talking about.

MR. NOWITZKI: That’s it. I heard you’re a big, big fan of Michael Jordan.

THE PRESIDENT: Thank you so -- well, you know, I was actually -- I was 23 before Jordan.

MR. NOWITZKI: Oh, you were?

THE PRESIDENT: I was. (Laughter.) So he got the number from me, I think. (Laughter.) He stole it.

MR. NOWITZKI: Yes. I got you.

THE PRESIDENT: That’s what happened, that’s beautiful.

In the Shadow of Pollution

What are we going to do about this problem?

Republicans argue, "Environmental Protection is killing jobs"!
Is that true? 
However, truth is pollution is killing people!

President Barack Obama Weekly Address January 7, 2012 (Video/Transcript)

Remarks of President Barack Obama

Weekly Address

The White House

Saturday, January 7, 2012

Happy New Year everybody.

This week, I traveled to Cleveland, Ohio, to talk with folks about the biggest challenge we face as a country – rebuilding our economy so that, once again, hard work pays off, responsibility is rewarded, and anyone, regardless of who they are or where they come from, can make it if they try. That’s the economy America deserves. That’s the economy I’m fighting every day to build.

Now, to get there, the most important thing we need to do is get more Americans back to work. And over the past three years, we’ve made steady progress. We just learned that our economy added 212,000 private sector jobs in December. After losing more than 8 million jobs in the recession, we’ve added more than 3 million private sector jobs over the past 22 months. And we’re starting 2012 with manufacturing on the rise and the American auto industry on the mend.

We’re heading in the rightdirection. And we’re not going to let up. On Wednesday the White House will host a forum called “Insourcing American Jobs.” We’ll hear from business leaders who are bringing jobs back home and see how we can help other businesses follow their lead.

Because this is a make or break moment for the middle class and all those working to get there. We’ve got to keep at it. We’ve got to keep creating jobs. And we’ve got to keep rebuilding our economy so that everyone gets a fair shot, everyone does their fair share – and everyone plays by the same rules. We can’t go back to the days when the financial system was stacking the deck against ordinary Americans. To me, that’s not an option. Not after all we’ve been through.

That’s why I appointed Richard Cordray as our nation’s new consumer watchdog this week. Richard’s job is simple: to look out for you. Every day, his sole mission is to protect consumers from potential abuses by the financial industry and to make sure that you’ve got all the transparent information you need to make the important financial decisions in your lives.

I nominated Richard for this job last summer. And yet, Republicans in the Senate kept blocking his confirmation – not because they objected to him, but because they wanted to weaken his agency. That made no sense. Every day we waited was a day you and consumers all across the country were at greater financial risk.

So this year, I’m going to keep doing whatever it takes to move this economy forward and to make sure that middle class families regain the security they’ve lost over the past decade. That’s my New Year’s resolution to all of you. Thank you, and have a great weekend.

Why They Protest: American Movements

President Obama Speaks at the Consumer Financial Protection Bureau(Video/Transcipt)

THE PRESIDENT: Well, it is wonderful to see all of you. I thought I would just drop by to help your new director move in. (Laughter.) He’s been a little busy. So I thought maybe some boxes, a little plant. (Laughter.)

I also just wanted to say hello to all of you who have just been doing extraordinary work in standing up what I think is going to be one of the most important agencies for people that there is. And I know that all of you have devoted enormous amounts of time and energy, and many of you are here making significant sacrifices with your families to make sure that this agency gets up and running really well. And so I just wanted to say thank you to all of you.

Let me begin by saying a few words about the latest economic news. This morning, we learned that American businesses added another 212,000 jobs last month. Altogether, more private sector jobs were created in 2011 than any year since 2005. And there are a lot of people that are still -- (applause) -- there are a lot of people that are still hurting out there. After losing more than 8 million jobs in the recession, obviously we have a lot more work to do. But it is important for the American people to recognize that we’ve now added 3.2 million new private sector jobs over the last 22 months -- nearly 2 million jobs last year alone. So after shedding jobs for more than a decade, our manufacturing sector is also adding jobs two years in a row now. So we’re making progress. We’re moving in the right direction.

And one of the reasons for this is the tax cut for working Americans that we put in place last year. And when Congress returns, they should extend the middle-class tax cut for all of this year, to make sure that we keep this recovery going. It’s the right thing to do. There should not be delay. There should not be a lot of drama. We should get it done.

And the American people I think rightly understand that there are still a lot of struggles that people are going through out there. A lot of families are still having a tough time. A lot of small businesses are still having a tough time. But we’re starting to rebound. We’re moving in the right direction. We have made real progress. Now is not the time to stop. So I would urge Congress to make sure that they stay on top of their jobs to make sure that everybody else is able to enjoy hopefully an even more robust recovery in 2012.

So the economy is moving in the right direction. We’re creating jobs on a consistent basis. We’re not going to let up -- not until everybody who wants to find a good job can find one. But we have a responsibility to do even more than just try to recover from this devastating recession and financial crisis. We have a responsibility to make sure that the economy that we’re rebuilding is one where middle-class families feel like they can get ahead again. A lot of the problems that we’re dealing with are problems that existed even before the recession, even before the financial crisis. For a decade or more, middle-class families felt like they were treading water, that they were losing ground.

And what we want to do is make sure not just that we’re getting back to the status quo, we want to make sure that we’re dealing with those underlining problems -- getting to a point where middle-class families feel like they can get ahead again. Where hard work pays off again. Where everybody gets a fair shot, and everybody does their fair share, and everybody is playing by the same set of rules.

And that’s where all of you come in. Every one of you here has a critical role to play in making sure that everybody plays by the same rules. To make sure that the big banks on Wall Street play by the same rules as community banks on Main Street. To make sure that the rules of the road are enforced, and that a few bad actors in the financial sector can’t break the law, can’t cheat working families, can’t threaten our entire economy all over again.

That’s your mission –- to make sure that the American people have somebody in their corner. That American consumer have somebody who’s got their back. And you finally got a great director who was tailor made to lead this agency in Richard Cordray. (Applause.)

You’ve also got an extraordinary team that is lined up behind me here, who did a great job in getting this agency up and running, and are going to continue to show extraordinary leadership in all the various issues that you’re going to be addressing. And I also want to give a special shout-out to the woman who dreamt up this agency and spent so much time turning it into a reality -- our friend, Elizabeth Warren. (Applause.)

Just to be a little more specific, millions of working Americans use financial products like credit cards and student loans and mortgages -- and that’s a good thing. These products have a tremendous potential to make people’s lives better –- to buy products, to earn an education, to afford a home, to raise a family. And we all use them. But when they’re sold in an irresponsible fashion they can also make life brutally hard on people. They can turn the dreams of a family into a nightmare. Things like hidden fees and traps on credit cards and student loans cost working American billions of dollars. Things like subprime loans and skyrocketing interest that you can’t escape cannot only bring families to their knees but the entire economy to its knees.

And Richard just mentioned the example of this elderly couple that we met when we were in Ohio yesterday. These are folks -- the gentleman was a Marine who served in Korea. They had been married for 42 years. He had worked all his life; they had poured their savings into this home.

Because of a code violation -- obviously, they’re on a fixed income. They don’t have a lot of money. They thought, well, maybe we can get a loan to make some modest repairs. And what initially was promised as an $8,000 line of credit to make these repairs ended up being an $80,000 debt with no repairs that threatened them going into foreclosure.

And those kinds of stories are replicated all across the country. And it not only hurts those individuals, it hurts the entire economy. That shouldn’t happen, not in America. And that’s why we’re here. We’re here to put an end to stories like these.

And already, your work is making a difference. The “Know Before You Owe” campaign you’ve been working on for months is doing three big things. It’s making home loan applications more transparent, so that families will know what they owe on their mortgages. It’s making it easier for students to compare financial aid packages and know what they owe each month when they graduate. I could have used that. (Laughter.) It’s making -- in fact, I’ve got a law school classmate here who probably went through the same thing I did. (Laughter.) It’s making credit card agreements shorter and simpler, so that credit card holders will know what they owe and what they’re getting into. And I know that folks all across America have been sending in their stories to help shape these new initiatives.

This is not something where it’s just a Washington top-down process. You are gathering the experiences of individual families, seeing how they got hurt, how they might have gotten cheated. And that’s helping to define how you enforce these rules. And that’s vitally important.

And now that Richard is your director, you can finally exercise the full power that this agency has been given to protect consumers under the law. Now that he’s here, irresponsible debt collectors and payday lenders and independent mortgage servicers and loan providers, they’re all bound by the same rules as everybody else. No longer are consumers left alone to face the risk of unfair or deceptive or abusive practices -- not anymore.

So we can make sure that folks don’t lose their homes or their life savings just because somebody saw them as an easy target. We can make sure that students don’t start out in life saddled with debt that they can never pay back just because of a lousy deal. We can safeguard families and seniors and veterans from toxic financial products. We can help give everybody the clear and transparent information that they need to make informed financial decisions and have companies compete for their business in an open and honest way.

That’s Richard’s commitment. That’s my commitment. That’s the commitment of everybody standing on this stage. And that’s your commitment. That’s why this agency is so important.

So I want to thank all of you for choosing to serve your country in these challenging times. Your mission is extraordinarily important. It’s vital to the strength of our economy. It’s really important to the security of working families. And I know that it might be personal for some of you. You may know a friend or a family member whose life was turned upside down because of some of these unsavory practices that this agency is designed to root out, and maybe you were then determined to prevent that from happening to somebody else. Now you can. And we’re not going to let those folks down all across the country.

When I meet Americans all across the country or I read letters that I get every night, they really don’t ask for much; they’re not looking for a handout, they’re not looking for special treatment. They just want a fair shake; they just want a fair deal. And we have a chance to give it to them.

So let’s do everything that we can to make sure that middle-class families can regain some of the security that they’ve lost over the last decade. Let’s help to protect what they’ve worked so hard for, and give them the chance to hand it down to their kids. I know you guys are ready to go to work. I am too. I couldn’t be prouder of you.

So congratulations. (Applause.)

President Obama appoints the Director of the Consumer Financial Protection Bureau (Video/Transcipt)

Shaker Heights High School

Shaker Heights, Ohio

THE PRESIDENT: Hello, Ohio! (Applause.) Ah, it is good to be back in Ohio. (Applause.) It is good to be back in Shaker Heights -- (applause) -- home of the Red Raiders. (Applause.)

AUDIENCE MEMBER: Mr. President, I love you!

THE PRESIDENT: I love you back. And I'm glad to be back. (Applause.) I'm glad to be here.

I want to thank your mayor, Earl Leiken, for hosting us today; -- (applause) -- your superintendent, Mark Freeman; -- (applause) -- the principal here, Mike Griffith. (Applause.) Well, and I know -- I'm pretty sure we've got a couple of congresspeople here, but I don't see them. Where are they? Okay, we've got Marcia Fudge. (Applause.) Marcy Kaptur is here. (Applause.) Dennis Kucinich. (Applause.) Betty Sutton in the house. (Applause.) Outstanding members of Congress, doing the right thing every day. So we thank them all for being here. (Applause.)

Now, I understand the folks here at this school have a pretty good basketball team. (Applause.) Boys and girls. (Applause.) Unfortunately, I have no eligibility left. (Laughter.) So I can't play with you.

I want to wish everybody a happy New Year -- 2012 is going to be a good year. (Applause.) It's going to be a good year. And one of my New Year's resolutions is to make sure that I get out of Washington and spend time with folks like you. (Applause.) Because folks here in Ohio and all across the country -- I want you to know you’re the reason why I ran for this office in the first place. You remind me what we are still fighting for. You inspire me. (Laughter.) Okay, you do. You remind me that this country is all about folks who work hard and where responsibility pays off, an America where anybody who puts in the effort and plays by the rules can get ahead.

That’s the America you deserve. (Applause.) That’s the America we’re working to build. That’s why I told Congress before the New Year they couldn’t leave for vacation until we made sure 160 million working Americans wouldn’t get hit with a tax hike on January 1st. (Applause.)

Now, this wasn’t easy. It should have been easy, but it wasn’t. But in the end, we got members of both parties to come together and make sure that you could keep more money in your paychecks each month. And you’re keeping that extra $40 in every paycheck because we made sure that we didn’t stunt the recovery. We made sure that families got the break that they need. And that means more security for your families. It also means a boost for our economy at a time when we've got to do everything we can to keep it growing. Because more money spent by more Americans means more businesses hiring more workers.

And so when I -- when Congress returns, I’m going to urge them to extend this tax cut all the way through 2012, with no drama, no delay. (Applause.) Do the right thing. It is a no-brainer. Let’s get it done. Let’s pass these tax cuts. (Applause.)

Now, we still have more to do. So today, we’re taking another important step -- one that will bring us closer to the economy that we need, an economy where everybody plays by the same rules.

AUDIENCE MEMBER: Yes!

THE PRESIDENT: And to help us do that, I’m joined by somebody you might recognize -- Richard Cordray. (Applause.) Son of Ohio; a good, good man. (Applause.) Today I’m appointing Richard as America’s consumer watchdog. (Applause.) And that means he is going to be in charge of one thing: looking out for the best interests of American consumers. Looking out for you. (Applause.)

His job will be to protect families like yours from the abuses of the financial industry. His job will be to make sure that you’ve got all the information you need to make important financial decisions. Right away, he’ll start working to make sure millions of Americans are treated fairly by mortgage brokers and payday lenders and debt collectors. In fact, just this week, his agency is opening up a simple 1-800 number that you can call to make sure you’re getting a fair deal on your mortgage, and hold banks and brokers accountable if you’re not. (Applause.)

Now, I nominated Richard for this job last summer, so you may be wondering why am I appointing him today. It would be a good question. (Laughter.) For almost half a year, Republicans in the Senate have blocked Richard’s confirmation.

AUDIENCE: Booo --

THE PRESIDENT: They refused to even give Richard and up or down vote. Now, this is not because Richard is not qualified. There's no question that Richard is the right person for the job. He’s got the support of Democrats and Republicans around the country. A majority of attorney generals -- Richard is a former attorney general -- a majority of attorney generals from both parties across the country have called for Richard to be confirmed. Your local members of Congress who are here today -- they support him. He has the support of a majority in the Senate. Everyone agrees Richard is more than qualified.

So what’s the problem, you might ask. The only reason Republicans in the Senate have blocked Richard is because they don’t agree with the law that set up a consumer watchdog in the first place. They want to weaken the law. They want to water it down. And by the way, a lot of folks in the financial industry have poured millions of dollars to try to water it down.

That makes no sense. Does anybody think that the reason that we got in such a financial mess, the worst financial crisis since the Great Depression, the worst economic crisis in a generation -- that the reason was because of too much oversight of the financial industry?

AUDIENCE: No!

THE PRESIDENT: Of course not. We shouldn’t be weakening oversight. We shouldn’t be weakening accountability. We should be strengthening it -- especially when it comes to looking out for families like yours. (Applause.)

THE PRESIDENT: The financial firms have armies of lobbyists in Washington looking out for their interest. You need somebody looking out for your interest and fighting for you, and that's Richard Cordray. (Applause.)

Now, I have to say Richard is a really nice guy. (Laughter.) You know, you look at him and you think, this guy is not somebody who’s going around picking fights. And yet, this fight on behalf of consumers is something that Richard has been waging here in Ohio for the better part of two decades. (Applause.)

As your attorney general, he helped recover billions of dollars in things like pension funds on behalf of retirees. He protected consumers from dishonest lending practices. Before that, Richard was the state treasurer, where he earned a reputation for working with folks from across the spectrum -- Democrats, Republicans, bankers, consumer advocates -- had a great reputation across the board doing the right thing.

And, Cleveland, you’ve seen the difference that Richard can make for consumers, and I have, too. And that’s why I want Richard to keep standing up for you -- not just here in Ohio, but for consumers all across the country.

Now, every day that Richard waited to be confirmed -- and we were pretty patient. I mean, we kept on saying to Mitch McConnell and the other folks, let’s go ahead and confirm him. Why isn’t he being called up? Let’s go. Every day that we waited was another day when millions of Americans were left unprotected. Because without a director in place, the consumer watchdog agency that we’ve set up doesn’t have all the tools it needs to protect consumers against dishonest mortgage brokers or payday lenders and debt collectors who are taking advantage of consumers. And that’s inexcusable. It’s wrong. And I refuse to take no for an answer. (Applause.)

So I’ve said before that I want to look for every possible opportunity to work with Congress to move this country forward and create jobs. I’m going to look for every opportunity to try to bridge the partisan divide and get things done -- because that’s what the American people need right now. And that means putting construction workers back on the jobs repairing our roads and our bridges. (Applause.) That means keeping our teachers in the classrooms. (Applause.) That means keeping our cops and firefighters doing what they do, protecting us every day. (Applause.) That means helping small businesses get ahead. (Applause.) That means serving our veterans as well as they’ve served us, like this young man right in the front. We are grateful for him, for his service. (Applause.)

These are ideas that have support from Democrats; they have support from Republicans around the country, independents around the country. I want to work with Congress to get them done.

But when Congress refuses to act, and as a result, hurts our economy and puts our people at risk, then I have an obligation as President to do what I can without them. (Applause.) I’ve got an obligation to act on behalf of the American people. And I’m not going to stand by while a minority in the Senate puts party ideology ahead of the people that we were elected to serve. (Applause.) Not with so much at stake, not at this make-or-break moment for middle-class Americans. We’re not going to let that happen. (Applause.)

For way too long, we’ve had a financial system that was stacked against ordinary Americans. Banks on Wall Street played by different rules than businesses on Main Street. They played by different rules than a lot of community banks who were doing the right thing across the country -- hidden fees, fine print that led consumers to make financial decisions that they didn’t always understand.

Richard and I, before we came here, had an opportunity to visit with a wonderful elderly couple -- the Easons. And Mr. Eason is a former Marine, served in the Korean War. Ms. Eason makes a really good sweet potato pie. She gave me one. (Applause.) I’m going to eat it later, after. (Laughter.) I didn't want to eat it before because I didn't want to get sleepy having a big piece of pie right before. (Laughter.)

But their story was the story of a lot of folks in this region, where a mortgage broker came to them, said that they could do some home repair for a few thousand dollars, and they ended up getting scammed; the loans got flipped. They ended up owing $80,000, almost losing their home, and the repairs were never made.

Those kinds of practices, that’s not who we are. We cannot allow people to be taken advantage of. And it’s not just because it’s bad for those individuals. All that risky behavior led -- helped to contribute to the economic crisis that we’re all still digging ourselves out of. All those subprime loans, all those foreclosures, all the problems in the housing market -- that’s all contributing to an economy that’s not moving as fast as we want it.

And that’s why, last year, we put in place new rules -- new rules of the road to make sure that a few bad apples in the financial sector can’t break the law, they can’t cheat consumers, they can’t put our entire economy in danger. And many of these provisions are already starting to make a difference. For the first time in history, we put in place a consumer watchdog -- someone whose only job is to look out for the interests of everyday Americans.

And we are so fortunate to have somebody like Richard who’s willing to do it, despite great sacrifice to his family. He’s the right man for the job. (Applause.)

So if you’re a student -- I see some young people out here -- (applause) -- his job will be to protect you from dishonest lending practices and to make sure that you’ve got the information you need on student loans. (Applause.) He has already started up an initiative called “Know Before You Owe.” (Laughter.) That’s a good slogan -- “Know Before You Owe.” You don’t want to owe and then know. (Laughter.)

If you’re a veteran, he’ll help make sure that you aren’t taken advantage of when you’re coming home from serving your country. And it turns out that military families are some of the folks who are most vulnerable to some of these financial abuses.
If you’re a senior, Richard is going to help make sure you don’t lose your home or your retirement because somebody saw you as an easier target. And that’s what happened to the Easons. Endia, who I think is here -- Ms. Eason, are you here? You’re somewhere here. There’s -- Ms. Eason is down there. Ninety-one years old. (Applause.) And as I mentioned, Ms. Eason’s husband, William, is a former Marine -- also a former boxer. So don’t mess with him. (Laughter.)

And I just want to repeat, 10 years ago they were approached by a broker who offered them a loan to make needed repairs on their home; made everything sound easy. The Easons agreed. Broker ended up disappearing. They get left with $80,000 in debt, almost lose their home. They didn’t lose it because of the intervention of some terrific non-for-profits that Richard, when he was treasurer here in Ohio, helped to support. (Applause.)

East Side -- that's right. (Applause.)

Now, the Easons are good people. They're what America is all about. They worked hard. They served their country. They saved their money. They didn't live high on the hog. It’s a modest house. They earned the right to retire with dignity and with respect, and they shouldn’t have to worry about being tricked by somebody who's out to make a quick buck. And they need somebody who is going to stand up for them, and millions of Americans need somebody who is going to look out for their interests. And that person is Richard Cordray. (Applause.)

And we know what would happen if Republicans in Congress were allowed to keep holding Richard’s nomination hostage. More of our loved ones would be tricked into making bad financial decisions. More dishonest lenders could take advantage of some of the most vulnerable families. And the vast majority of financial firms who do the right thing would be undercut by those who don't.

See, most people in the financial services industry do the right thing, but they're at a disadvantage if nobody is enforcing the rules. We can't let that happen. Now is not the time to play politics while people’s livelihoods are at stake. Now is the time to do everything we can to protect consumers, prevent financial crises like the one that we’ve been through from ever happening again. That starts with letting Richard do his job.

So I know -- let me just close by saying this. I know that you're hearing a lot of promises from a lot of politicians lately. Today you’re only going to hear one from me. As long as I have the privilege of serving as your President, I promise to do everything I can every day, every minute, every second, to make sure this is a country where hard work and responsibility mean something and everybody can get ahead. Not just those at the very top, not just those who know how to work the system, but everybody.

That's what America has always been about. (Applause.) That's what America is going to be about today and tomorrow and 10 years from now and 20 years from now. And with the help of people like Richard Cordray, that's the country that we will always be.

Thank you. God bless you. God bless the United States of America. (Applause.)