Congressman Tom Price (R-GA) issued the following statement after President Obama bypassed the Senate confirmation process and installed his friend Elizabeth Warren in a position to oversee the CFPB, a powerful new federal bureaucracy created by the passage of the Democrats’ Dodd-Frank permanent bailout bill.

“President Obama just gave his personal friend an open-ended, unilateral appointment to head up a brand new bureaucracy with sweeping powers to restrict Americans’ financial options,” said Congressman Price. “And he did it because she is way too far left of mainstream America to be confirmed by a Democrat-controlled Senate. Elizabeth Warren could conceivably hold this post for years without ever having to answer to the people’s elected representatives. If that does not concern you, I don’t know what will.

“Most people can agree that government has a role in ensuring transparency so individuals can make informed decisions. Elizabeth Warren seems to believe that government should actually make decisions for people by limiting and restricting the options available to them. This radical view, indicative of this White House, is fundamentally at odds with the principles on which our nation was built.

“This appointment is a stark reminder of what happens when Congress passes 2,000-page bills without reading them. Even Senator Chris Dodd, the man who wrote the law creating this vast new bureaucracy, had no idea it gave the President the power to bypass the Senate confirmation process for this position.”