Elizabeth Warren Gets White House Nod

After months of will he or wont he, ABC News is reporting that the White House has tapped Elizabeth Warren as a special advisor to help establish the new Consumer Financial Protection Bureau, the regulatory agency created under recently passed financial services reform. This will allow Warren to act as interim head of the agency and get right to work.

The move also blocks GOP efforts to filibuster her nomination–a distinct reality since Warren has been a vocal critic of the banking industry and its lobbyists fought hard against her potential nomination. Warren has been just as critical of some in the administration, and many progressives worried that her public critiques of Treasury Secretary Timothy Geithner would prevent the administration from choosing her.

Many have credited Warren as essentially the intellectual founder of the agency since she has been calling for some kind of financial services oversight since chairing the congressionally chartered panel that oversees the Wall Street bailout. In that role Warren made waves by holding a series of hearings and accusing Bush Treasury Secretary Hank Paulson of misleading investigators. Warren also took shots at the banks for failing to track the bailout money and at the government for overpaying for bank stocks.

Warren could serve in the post until President Obama names a permanent director, a nomination he is not required to make for some time.

This nomination should be seen as a victory for progressives and consumer advocates. If Warren’s performance so far is any indication, she intends to take the role of oversight and protection very seriously. And it’s about time someone does.

photo courtesy of david_shankbone via Flickr

Disclaimer: The views expressed above are solely those of the author and may not reflect those of
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jane r.

7:48AM PDT on Sep 25, 2010

For once someone in Washington listened!

send a green star

Walter G.

5:46AM PDT on Sep 18, 2010

Excellent! At last one choice which does not appear to be a did!

The banks hate her, which means I Iove her!

Beverly C.

5:26PM PDT on Sep 17, 2010

THANKFULLY, PRESIDENT OBAMA CHOSE ELIZABETH WARREN. SHE IS A GREAT ADVOCATE FOR US ALL.

Shirley A.

9:54AM PDT on Sep 17, 2010

It's about time !!!!! NOW GIVE HER THE AUTHORITY TO KICK SOME BUTT AND GET THINGS DONE.

NOW PEOPLE !!! Let's get to work and MAKE SURE the INCOMPETENT R'S do not gain control in November. It takes time to climb out of a DEEP ditch and I'm sure as hell willing to keep looking forward. It still may not be as fast as we'd like but we HAVE TO GET RID OF THE OBSTRUCTIONISM that has absolutely CRIPPLED OUR NATION FOR TWO YEARS. The R'S are so afraid that this administration WILL be able to pull this Country out of the BUSH BLUNDER YEARS, they see their self-righteous, self-absorbed, bigoted power mongering going down the drain for a long, long time. AS IT SHOULD BE. There are repercussions for ignorant and illegal actions and it's time this Country quit excusing the lack of competence, morals and values of soooo many (right or left). We have to do our homework on candidates BEFORE we vote and make good common sense decisions based on their credibility for the job and what will be the CORRECT decisions for this Nation as a whole. Just because you may not be personally affected by a bill or policy a candidate is pushing, let's PLEASE try to think as a fair minded, open minded, INFORMED and compassionate people that I believe the majority in this Country are.

VERY HAPPY ELIZABETH IS FINALLY positioned to START doing some good and making some CHANGES. Wish it could have come even sooner and she had more power. We certainly need MORE LIKE HER.

Marlyn V.

9:09AM PDT on Sep 17, 2010

didn't we know this already? old news

Rosa F.

1:09AM PDT on Sep 17, 2010

Financial systems should be once and for all some kind of control, to avoid being seen wrapped in a few years again without having another crisis caused if were are suffering the consequences, while "them" remain the same. It is not fair. From Madrid (Spain)

suzanne s.

11:46PM PDT on Sep 16, 2010

NATIONAL PARTY TIME!!!!!!!

Edith B.

9:45PM PDT on Sep 16, 2010

Great news. I hope she continues her work to protect ordinary folks.

Lynn Marie M.

6:03PM PDT on Sep 16, 2010

Excellent.

Nancy D.

5:47PM PDT on Sep 16, 2010

Omigod, I'm soooo excited that the President has finally put her on board. She won't cut Wall Street any slack!! Go gettum Elizabeth!!