Consumer Financial Protection Bureau director Richard Cordray just did a quick spot on CNBC, and the anchors threw him a few hardballs.
But he threw them right back, after the anchors mentioned JP Morgan CEO Jamie Dimon’s “Dodd-Frankenstein” line, Cordray said that he had just spoken to Dimon on the phone yesterday, and that Dimon was “very interested in our effort to level the playing field between banks and non-banks.”
As you can see, whatever you want to say about Cordray, he’s definitely on message.
At Brookings yesterday, he said that he blamed unregulated non-bank financials for the crises, and no matter where CNBC’s reporters took the conversation, he swung it right back to those institutions. He accused them of “leading a race to the bottom,” and said that, “you can’t have a market that works when some of it is regulated and some is unregulated.”
You can watch the full video of the interview below. It’s worth a look.