Last week, the U.S. Court of Appeals for the D.C. Circuit cast some doubt on the validity of President Barack Obamas controversial recess appointments to the National Labor Relations Board and by extension, that of Richard Cordray as director of the CFPB. Noel Canning v. National Labor Relations Board involves a challenge to the presidents recess appointments to the NLRB in early January during a period when the Senate was holding pro forma sessions every three days specifically to deny him the opportunity to make...