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You know what he said every time? no. >> she is right about the powers that have been preserved as you read the powers that you now have having been sworn in. your position seems very powerful. you're able to create rules of the road for financial institutions. in effect, what is the effective difference between your powers and congress' power to legislate? >> well, i think like every independent agency, congress has delegated us authority to make some rules that fill in the gap in legislation. but frankly when i was attorney general of ohio and i was trying to help people with their consumer ...

>> she is right about the powers that have been preserved as you read the powers that you now have having been sworn in. your position seems very powerful. you're able to create rules of the road for financial institutions. in effect, what is the effective difference between your powers and congress' power to legislate? >> well, i think like every independent agency, congress has delegated us authority to make some rules that fill in the gap in legislation. but frankly when i was attorney general of ohio and i was trying to help people with their consumer problems, seniors who were being scamm...

Finally got a human to listen to him and he won't be losing his home. last night, richard cordray, who president obama just installed using his appoint. talked about his new job in the agency compared to congressional oversight. >> congress has delegated us authority to make some rules that fill in the gaps in legislation. but frankly, when i was attorney general of ohio, and i was trying to help people with their consumer problems, seniors who were being scammed and defrauded of life savings, people losing their homes to foreclosures, people drowning in credit card debt, i was often frustra...

That have been preserved as you read the powers that you now have having been sworn in. your position seems very powerful. you're able to create rules of the road for financial institutions. in effect, what is the effective difference between your powers and congress' power to legislate? >> well, i think like every independent agency, congress has delegated us authority to make some rules that fill in the gap in legislation. but frankly when i was attorney general of ohio and i was trying to help people with their consumer problems, seniors who were being scammed and defrauded of their life sa...