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View Diary: Elizabeth Warren - I never wanted the chairmanship (127 comments)

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  •  The Dodd-Frank Act (0+ / 0-)

    is a toothless joke.  It was written with the help of the financial lobby and it doesn't do anything to regulate derivatives, prevent another financial disaster, or end too big to fail.

    Of course the CPFB itself is a good thing that came out of that bill, but how effective it is depends largely on who is appointed to head it.  

    "None are more hopelessly enslaved than those who falsely believe they are free" -- Von Goethe

    by Lawguy101 on Mon Jul 18, 2011 at 12:19:12 PM PDT

    [ Parent ]

    •  Wrong. (3+ / 0-)
      Recommended by:
      malharden, Sophie Amrain, Escamillo
      Of course the CPFB itself is a good thing that came out of that bill, but how effective it is depends largely on who is appointed to head it.  

      Its success depends far more on whether repubs successfully gut the CFPB through lack of funding and/or removing CFPB authority.

      Its success depends on the groundwork already done by Warren and Cordray, and their ability to hire the best and brightest. Both of them have been key in attracting good people to work at CFPB.

      Cordray has excellent qualifications to run CFPB.

      The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little. -FDR

      by SoCalSal on Mon Jul 18, 2011 at 12:49:57 PM PDT

      [ Parent ]

      •  Yeah, the idea that ONLY Warren could do it (4+ / 0-)
        Recommended by:
        Escamillo, SoCalSal, Sharoney, FiredUpInCA

        Is ludicrous! There's virtually never a time when there's only one person who could hold down any job!

        •  The idea is also ultimately self-defeating. (2+ / 0-)
          Recommended by:
          Sharoney, FiredUpInCA

          If Warren were indeed the ONLY person that could run the agency, and the term as director lasts only 5 years, then at the end of 5 years, Warren would step down, and since ONLY she could run it effectively, the agency would be totally ineffective and useless from then on, forevermore.  So what would be the point of creating the agency at all?  Just for 5 years of consumer protection?

          So yeah, the idea that only Warren could run the agency makes no sense, on multiple levels.

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