Obama praises nominees for SEC, consumer panel

WASHINGTON (AP) - President Barack Obama says his picks for two top posts will crack down on those whose irresponsible behavior threatens the U.S. economy and the middle class.

In his weekly radio and Internet address, Obama praises his nominee to lead the Securities and Exchange Commission, Mary Jo White, and his pick for the Consumer Financial Protection Bureau, Richard Cordray.

Obama says White, a former federal prosecutor, will help reform Wall Street. He says Cordray will be a champion for American consumers and is imploring the Senate to confirm him.

Obama installed Cordray last year through a recess appointment after Senate Republicans opposed his nomination.

In the Republican address, South Dakota Sen. John Thune says the Senate must pass a budget that addresses out-of-control spending to stave off another credit-rating downgrade.

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