Obama Makes It Official: Warren In At CFPB

Ending months of speculation, hand-wringing and rumored in-fighting, President Obama today will name Elizabeth Warren as a special adviser to the President leading the creation of the Consumer Financial Protection Bureau.  The appointment puts Warren in the ranks of one of the President’s most closest White House aides where she will report to two of the most powerful players in D.C.–President Obama and Treasury Secretary Timothy Geithner.

The advisory role allows President Obama to avoid what promised to be a nasty confirmation battle should he name Warren to head the brand new agency.  It also insulates Warren from some of the political realities heading up the agency would entail and, ultimately, give her more clout with the President who has described Warren as a “dear friend”.

For those who see this as a capitulation or a compromise that ultimately takes the teeth out of Warren’s potential, think again.  This is a woman who not only came up with the idea of the agency but who has fought for the rights of consumers and the middle class long before the popular Wall Street backlash.  She is known as a fierce advocate who will not shy away from any fight.  Those who are close to her are confident she would not accept any position that was the equivalent of window-dressing.  This is  a woman on a mission and a woman who would not accept any position unless it came with the tools and the authority necessary to make things happen.

Given the nature of the opposition against Warren, those seem like pretty safe assumptions.  Wall Street is particularly scared of Warren and the Republican opposition was fierce even when the possibility of an appointment was nothing more than speculation.

This announcement is nothing short of great news for progressives and consumer advocates.  Elizabeth Warren has the chance to play the central role in forming and launching an agency that will ultimately advocate on behalf of consumers in an area where consumers need it most.  Pay attention to the nature of her opposition and you will see just the kind of advocate we gained today.  And not a moment too soon.

photo courtesy of david shankbone via Flickr

74 comments

jane richmond
jane richmond7 years ago

fantastic!!!

SEND
Salome Waters
Salome Waters7 years ago

Great appointment. Kudos to Obama!

SEND
Macon L.
Macon L7 years ago

This lady has the credentials. I just hope President Obama will give her full support to create an agency that really has some teeth in it!

SEND
Cherie Ann Day
Cherie Day7 years ago

I hope they let her do some good! I like Ann P's thinking.

SEND
Charlene R.
Charlene Rush7 years ago

Ms. Warren gives me a very positive feeling. Hopefully, she will have the determination to succeed, where others have failed. We must give her all the emotional support, possible.

SEND
Carolee W.
Carolee Wood7 years ago

I applaud President Obama's choice. She is the best possible person for this job.

SEND
Ray M.
Ray M7 years ago

It's about time. Hopefully she can make a difference, but have my doubts. Greed wins out every time.

SEND
Rie Rie T.
Ria T7 years ago

I hear Etta James singing "At Last" as my political commentary often arises like this. A non-corporatist Presidential Advisor who seems able to understand non-beltway citizens (and I'm not talking about paper documentation either). Power can corrupt so quickly and entirely. May Elizabeth Warren, not relying on lobbyist and corporate donations to her election campaign protect and serve us.

SEND
James R. Stewart Jr.

Wonderful, Wonderful, WONDERFUL !!!

SEND
Audrey L.
Audrey L7 years ago

Great move Mr. President. Yes there are ways to get around the party of NO. You out foxed them on that. It was a great choice.

SEND