This news came as a shock to me, because I cannot imagine the CFPB headed by anyone other than Elizabeth Warren.
The Wall Street Journal is reporting that Elizabeth Warren is quietly searching [Murdoch delinked] 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… [emphasis added]
Inserted from <Daily Kos>
There is no valid reason to appoint anyone else. First, the need for at least seven Republicans stated by the WSJ assumes there will be no filibuster reform. Second, if the Senate refuses to confirm any nominee, she continues indefinitely as interim head of it until someone is confirmed to replace her. Here’s the bottom line. If Obama replaces her with an accursed DINO who will burrow his nose deep between Bankster cheeks, it will be because that’s what he wants to do, not because it’s what he has to do.
17 Responses to “Will Warren or a DINO Head the CFPB?”
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I say let them filibuster all they want. Like you said, if they do, she remains head. Sounds like a winning situation to me.
To me too, Jerry. She won’t be replaced unless that is what Obama wants.
Obama and Geithner fought hard against her appointment, compromise was allowing Warren to set the CFPB up then step aside so someone more Wall St friendly can be plugged in. Business as usual in DC.
Oso, Geithner did, but Obama did not. He is the one that appointed her.
I was hoping the WSJ was fantacizing as they are want to do but I see it elsewhere. I hope it isn’t true or there’s more here than is being reported – like she doesn’t want the job, maybe doesn’t have the stomach for the approval process, which I can certainly understand with the current crop of Republicans. I think it would be a sad day if we were to lose such a bright taleted individual.
I know, Leslie. I source checked it before I put it up. I cannot see her not wanting the job. The CFPB for her is like PP is for me.
Since the CFPB is housed in Treasury at present, Geithner could have appointed her. Obama could have too,as a recess appointment. IMO neither chose to do so because Wall St dislikes her. Timmy and the president want Michael Ball, a Robert Rubin protege to head the agency.
Obama will sadly shake his head and say he really wanted her but the mean Republicans would have fought it and Dems will cheer him and shake their fists at the Repubs. Dodd politely trashed her before he left, claiming confirming her would be problematic – he went out as a Wall St/Obama team player all the way.
Obama doing the same “kick the smart woman in the ass” thing Clinton did with Brooksley Born.
Actually, Oso, that is not correct. Although the CFPB is housed in Treasury, it is independent from Treasury, and it’s head reports to the President. Only the President can appoint her, not Geithner. I agree that’s what Timmy wants. What Obama wants remains to be seen.
Wasn’t Brooksley a treasure?!!? She was the first to see it all coming.
Absolutely TC, she was. You’re probably right about Timmy, I’d read in FDL he could’ve appointed her (Timmy LOL I love calling him that! ) but that may have been just the writers speculation. Obama opposing her is my opinion only, pretty much based on my observation of his behavior. If he has solid support on anything he takes a position, if not IMO he works thru others. Letting Timmy go off on her as well as Dodd saying she lacked enough votes for confirmation seemed to me to be BHO’s hand but I could be wrong. Wall St hates her, his old base loves her – so I figured he’d give her the temp job, then let someone more Wall St friendly have the actual job, get her to fall on her sword by claiming she didn’t want to be tied up for 4 years. Just my hunch though, I also thought the Raiders were gonna TRY against the Colts but they rolled over for that Republican SOB Manning.
Oso, you’re likely correct, but it’s possible that Obama is being shrewd by having her pick someone Republicans will obstruct, leaving her in place. A recess appointment lasts for one year only. Her interim position continues until either she resigns or her replacement is confirmed.
Look Obama is in the top tier of wealth holders. he is doing, just like the rest of them, everything necessary to protect his own personal fortune. And when you SS is cut 10-20% he will say “aww gee whiz I wanted to stop them but I don’t control the purse strings.”
Warren is simply going to be another casualty of the truth rising.
I suggest everybody get the number to the food stamp office now because by July you’re going to need it.
Will there be a food stamp office by next July?
Welcome KB. 🙂
Not if Republicans get full control.
Mark, before I condemn them for doing something, I wait for them to actually do it.
If Obama lets this go through, and some DINO is in there the libs are gonna loose it (and so will I). He should have recess appointed her with this last batch that he just did. I don’t know why he didn’t. 😯
Tom in the old days did you prepare for the protest on the day it was scheduled to happen or did you work to make it happen?
Mark, we worked to make it happen in response to the conditions that existed at the time. These conditions are that she is still the person in charge. See my earlier reply to Oso.