The Wall Street Journal is reporting that Elizabeth Warren is quietly searching for a permanent head for the Consumer Financial Protection Bureau.
The hunt suggests that Ms. Warren, a lightning rod for some bankers, might not be selected to lead the bureau, a centerpiece of the Dodd-Frank financial overhaul bill that passed this summer. Still, many liberal groups will push to get her in the post.
President Barack Obama's choice could signal how he intends to deal with resurgent Republicans in Congress. The feelers to business groups serve as a reminder that any nominee would likely need support from at least seven Republicans in the Senate to win confirmation.
Among the names being discussed are Iowa's attorney general, Tom Miller; New York state bank regulator Richard Neiman; and former Office of Thrift Supervision director Ellen Seidman....
The process is at an early stage but could escalate quickly, the people said. A concrete list of candidates hasn't yet been established, and the White House could dismiss any recommendations made by banking or liberal groups. The decision on a nominee will ultimately be made by Mr. Obama, and could come by March, the people said.
Given Warren's passion for the new agency and the work she has done thus far to establish it, she'll hopefully have primary influence with Obama in selecting the permanent head of the agency. But if Obama is going to go for a candidate that won't rile up Republicans--who will be riled up regardless of his pick, and who will remain committed to curtailing the agency--it doesn't seem likely that a pick Warren would approve would get through the Senate.
Because the Republicans will choose Wall Street over Main Street every time.