In addition, by taking this action the President may have actually weakened the CFPB because any action that take it takes the future will be subject to legal challenge on the basis that the Director was not Constitutionally installed.
While the Cordray appointment has been stalled since last July when the President first nominated him, the President had nominated two of the three NLRB candidates (Sharon Block and Richard Griffin) only a few weeks ago and the third NLRB candidate (Terence Flynn) he had not previously nominated at all. So the President is already attempting to completely bypass the Senate and gut the Senate's Constitutional power of advice and consent.
The President has an obligation to protect the Constitution. He should not succumb to the frustrations or politics of the moment and attempt to nullify one the important checks and balances that the Constitution affords. Unless the courts should strike down these appointments, future Presidents - many of whom may hold views inimical to President Obama's - will use the precedent established by President Obama to routinely make federal appointments without Senate approval. President Obama's actions have weakened our democracy.