Progressives Celebrate: Obama to Appoint Warren Consumer Adviser
September 16, 2010
(ChattahBox Political News)—Elizabeth Warren, a respected and passionate advocate for middle class consumers, is headed to the White House. The Harvard Law School professor and official watchdog of the Troubled Assets Relief Program, will be appointed this week to a special advisory role overseeing the formation of the newly-created Consumer Financial Protection Bureau. Her expected appointment, long demanded by the liberal base of the Democratic Party, has progressives cheering today.
The logjam in the Senate of Obama appointees, is so onerous and unprecedented, with Republicans placing secret holds on even mundane appointments, that President Obama was reluctant to officially appoint Warren to head the Consumer Financial Protection Bureau. Republican senators would have blocked and stalled her appointment process, effectively killing the consumer rights bureau.
Obama recently quipped that he could not get an appointee for “dog catcher” through the dysfunctional senate, broken by determined Republican obstructionism, intended to deny the President a victory at any cost.
As a White House adviser, Warren can advocate on behalf of consumer rights and see that the new agency moves forward.
ABC’s Jake Tapper first broke the story of the special Warren appointment:
“President Obama will announce this week that Elizabeth Warren, the Harvard Law School professor who first proposed the Consumer Financial Protection Bureau, will be named to a special position reporting to both him and to the Treasury Department and tasked with heading the effort to get the new federal agency standing, a knowledgeable Democrat told ABC News.”
“Warren’s title will be Assistant to the President & Special Adviser to the Secretary of the Treasury on the Consumer Financial Protection Bureau.”
And The New York Times reports that Warren’s expected appointment, may eventually lead to a nomination to head up the new bureau:
“The decision does not preclude the possibility that Ms. Warren could eventually be named director, and at the least, she would play a pivotal role in deciding whom to appoint to the job, according to the official, who spoke on the condition of anonymity so as not to pre-empt the formal announcement. Several organizations, including ABC, reported the news of Ms. Warren’s impending appointment on Wednesday.”
The consumer rights bureau was first proposed by Warren in an academic article. And the idea was embraced by Democratic lawmakers authoring the Wall Street reform legislation.
President Obama hailed the new bureau, as the first independent agency “whose sole job is to protect families in their financial transactions.”
Photo Source: Wikmedia Commons/David Shankbone/Elizabeth Warren, Time 100 Gala.