Most of the problems in the recently passed financial reform bill resulted form Chris Dodd pandering to Republicans. It would have been far weaker than it turned out, had not more progressive Democrats amended Dodd’s version on the floor before passage. Dodd is caving in again, advising against the appointment of Elizabeth Warren as head of the CFPB.
When it first looked like Harvard Law professor Elizabeth Warren might stand a serious chance of getting appointed at the first director of the newly-created Consumer Financial Protection Bureau — a regulatory agency which she was the first to suggest — Senate Banking Committee Chairman Chris Dodd (D-CT) poo-pooed the notion, saying there’s a “serious question” about whether Warren is “confirmable.”
The New Republic’s Noam Scheiber wrote that “after surveying a dozen insiders over the last few days — congressional aides, industry officials, progressive activists, and a few administration officials — I’ve concluded that the odds are good that Warren would be confirmed if nominated by the White House.” And Dodd now seems to have shifted his rhetoric, saying that even if Warren is confirmable, it’s not worth a potential fight to get her the job:
What you don’t need to have is an eight-month battle for who the director or the head or chairperson of this new consumer financial protection bureau will be.
Watch it:
Dodd pretty clearly would prefer that current Federal Deposit Insurance Corp. Chair Shelia Bair receive the nod, but Bair has said that she’s not interested in the job. “I did some checking on Sheila Bair and I was going to have very little difficulty getting Sheila Bair confirmed,” said Dodd. “I’d probably confirm her in a couple of days. That’s how strongly people felt, Democrats and Republicans.”
Bair certainly has the credentials to do the job, as she was one of the first federal officials warning about the proliferation of subprime loans during the buildup of the housing bubble. But she’s doing very important work at the FDIC, and as The Wonk Room explains, there’s simply no reason for passing over Warren.
Leaving aside Warren’s qualifications, it makes little sense that Dodd feels a political fight here isn’t worth it. Warren is an unabashed, articulate consumer advocate, and her nomination would set up a clear choice: consumers or the banks… [emphasis original]
Inserted from <Think Progress>
I have nothing against Sheila Bair, but she’s a great fit for her current post at FDIC. Warren is a better fit for the CFPB. Dodd is wrong. Elizabeth Warren is worth the fight, and the fight is worth having. Let the Republicans side with the banksters as the midterms approach. Let them show voters who they represent. The link below is a White House form for emailing the President. Spread this around, please.
Tell Obama to ignore Dodd and appoint Warren! CLICK HERE
21 Responses to “Action Alert: Tell Obama to Ignore Dodd, Appoint Warren”
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This women is so sharp and many of us want to see her appointed. I’ll believe it when it happens and I have signed.
Thanks Fly. She really is.
TC this worries me because I’ve heard it said if Warren is not appointed it shows badly for Obama. It’ll show he and the dems are not that concerned about protecting Main St. from Wall St. I will definitly sign!
Thanks Sue. If Obama appointed a cprporatist to fill the post, he will lose credibility with me to the extent that I would entertain the idea of supporting a primary challenger in 2012.
I signed it willingly – even tho over half my emails are from organization who want me to sign this or that.
Thanks, Leslie. Mine too, but I’m quite selective about what I sign and moreso about what I post here as an action alert. This one isn’t even from an organization. It’s completely homegrown.
Signed it and will hope for the best.
Thanks Beach. Me too.
It started with Bush but I just can not believe anything any politician says any more. Obama has to ignore them all and do what he thinks is right not just in this instance but always.
Jim, there are a few I trust. I have great representation from Wyden, Merkley, and Wu. Alan Grayson, Bernie Sanders, and a few more are also top drawer.
signed but i hold little hope. and why is dodd – who is fracking retiring – geting so involved? i would vote for warren for president.
the powers that be are scared of anyone who truly does ring a REAL populist chord and threatens any of the MONEY structure that iws currently place. the bill that was passed was so watered down it will in the end be meaningless – just like the constitutional clause than says congress shall declare war. i still dont remember a war declaration for afghanistan, iraq, korea or vietnam
DC, we can only hope for the best, but prepare for the worst.
Sadly, Clinton may have been right about Obama’s inexperience, as he has fallen under the influence of three despicable characters: Geithner, Bernanke, and Summers.
Oh, STFU already Dodd – you’re a lame luck. However long it takes to confirm Warren is what it takes. And Bair is tainted by that housing schedule.
I agree, Lisa.
While I believe $en. Dodd’s concerns are specious and disingenuous (I believe he looking for a lucrative lobbying job from the Financial $ector when he leaves the $enate) and I’ve been a backer for Warren from the get-go – I do think there are some legitimate concerns.
From The New Republic:
http://www.tnr.com/blog/jonathan-cohn/76402/elizabeth-warren-the-president-and-wall-street
Which was echoed by Kevin Drum at Mother Jones:
http://motherjones.com/kevin-drum/2010/07/can-elizabeth-warren-run-cfpb
But unlike$en. Dodd, I would NOT shy away from a confirmation battle with the Teapublicans – it forces them to side with Wall $treet moguls!
Besides, Pres. Obama, can you say “RECESS APPOINTMENT”? I couldn’t care less how loud THAT would make Teapublicans whine!
Great info, Nameless. We are clearly on the same page here.
Ahh you mentioned the three Wise Men, Moe larry and curly. These three should go ASAP.
Warren is an Honest person in DC, that will never fly..
As Cappy said, I too would vote for her for President.
She definitely should have this post. Dodd is a shill.
Amen, Tim.
Does Dodd already have a job lined up working for the banksters?
I can’t say for a fact that he does, Lib, but if he doesn’t I’ll be falling out of my chair.