Support is piling up for Elizabeth Warren to head the new Consumer Financial Protection Bureau.
Quite interesting is the possibility that she could be tasked by Secretary Geithner to establish the new bureau!
Most interesting is the possibility that she could do it without having to go through Senate Confirmation!
Paul Krugman in support of Warren last week:
There’s also a political aspect. The Obama administration suffers from the perception that it’s been too much in the pocket of Wall Street — partly because there’s at least a grain of truth to the accusation. Appointing a prominent pro-consumer crusader would have to help repair the image, while appointing somebody unknown to the public, especially when expectations are running high, would hurt.
More support this week,HT to Huffpo:
Shahien Nasiripour | HuffPost Reporting
Elizabeth Warren Could Head CFPB Without Senate Confirmation
Americans for Financial Reform, a coalition of more than 250 groups organized to fight for strong financial reform, endorsed Warren on Monday to head the new agency. Rep. Carolyn Maloney, a New York Democrat, and Senator Tom Harkin, a Democrat from Iowa, are both asking colleagues to sign letters urging Obama to nominate Warren for the post. Sen. Bernie Sanders, an independent from Vermont aligned with Senate Democrats, wrote Obama on Monday asking him to nominate Warren.
"No one in our nation could do a better job," Sanders wrote.
Heather Booth, AFR's director, said proponents of reform should fight for "the strongest, most qualified" candidate to head the consumer agency. AFR endorsed Warren.
Dodd has already been quoted as doubtful her confirmation would be possible, but Whitehouse has said she would be able to be confirmed.
How about giving that a miss? Shahein:
And the legislation doesn't appear to contain a deadline for a Presidential nomination, experts say, which means Warren could start the agency from scratch, put her people in, begin cracking down on predatory and abusive lenders, and initiate a culture that would put consumers' interests above those of the nation's most powerful financial institutions.
In short, she could set a tone the agency will follow for the next several years without the administration needing to fight a potentially drawn-out confirmation battle that could stall Obama's pro-consumer agenda.
"The statute gives the Treasury Secretary the obligation to get it done, but doesn't tell him how to get it done," Gail Hillebrand, a senior attorney at Consumers Union and manager of the group's financial services campaign, said about the Secretary's role in creating the new agency.
Those who are up with Elizabeth Warren for this work can contact the Whitehouse here:
http://www.whitehouse.gov/...
Okay, off to exercise class, got to stretch and strengthen! GOTV for the fall?