Posts Tagged ‘elizabeth warren’

CNN’s Ed Henry ran into Elizabeth Warren this morning at the White House and reports that she is “fired up” and ready to hit the ground running in setting up the new Consumer Financial Protection Bureau.

Newsweek has a round up of some of the reactions to the news that Obama will bypass a Senate confirmation fight by making Warren a special assistant who reports directly to him and who will also serve as a special adviser to Treasury Secretary Timothy Geithner.

While a confirmation fight would have been great fun (seriously, didn’t you want to hear Mitch McConnell argue against protecting consumers from predatory lenders?), it’s great that Warren can get to work post haste establishing the agency that she first proposed a few years ago.

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From David Arkush, director of Public Citizen’s Congress Watch Division:

Reports that President Barack Obama will give Elizabeth Warren a major role in establishing the new Consumer Financial Protection Bureau are welcome news. Warren offers the promise of what financial consumers need most – a tough advocate to clean up an industry that has made unfairness and deception its core business model.

The details of the post are unclear, but early indications are positive. Warren would serve as an assistant to the president and a special advisor to Treasury Secretary Timothy Geithner. It is important that Warren answer directly to the president and have his ear, not merely work within the Treasury Department.

We are disappointed that the president has not nominated Warren to direct the agency. It is understandable that some might view confirmation as difficult at present, given Senate Republicans’ persistent and arbitrary obstruction of so many nominees. But Warren is confirmable, and a fight over her confirmation is worth having. The big banks and their supporters in Senate would be foolish to oppose her with the American public watching. Warren would emerge from the fight not only confirmed, but even better known and therefore strengthened as a national champion for consumers. We urge President Obama to nominate her.

Note: Public Citizen launched a petition drive urging Obama to nominate Warren to run the new consumer financial protection agency. Last month, we delivered more than 15,000 signatures to the White House.

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Today’s buzz speculates that Obama will name Elizabeth Warren as a special adviser, a czar of sorts, to lead the Consumer Financial Protection Bureau.

Until the Commander in Chief announces for sure what Warren’s role will be in the new agency, this music video about the “new sheriff” in town should entertain you plenty. Check it out!

Learn more while you’re at it.

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On Wednesday, we delivered our petition to the White House urging President Barack Obama to nominate Elizabeth Warren to lead the new Consumer Financial Protection Bureau.

Thank you to everyone who signed our Elizabeth Warren petition!

If anyone understands the urgency of appointing Elizabeth Warren to lead the new consumer bureau, it’s Craig Mehall – a Public Citizen lobbyist who fought on the front lines of Wall Street reform, going toe-to-toe with big bank lobbyists.

All of us at Public Citizen are grateful for and inspired by our activists.

Now we wait for President Obama’s response.

While millions of families are still struggling in this Great Recession, big banks are busy inventing new, deceptive ways to lift money from consumers’ wallets. It’s critical that the new Consumer Financial Protection Bureau get to work as soon as possible, with Elizabeth Warren in charge.

We’ll let you know what happens, and how to continue working for a fair, sustainable economy.

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A tweet last night from the Nation’s Katrina vanden Heuvel has raised expectations that President Obama will soon nominate Elizabeth Warren to head the new Consumer Financial Protection Agency.  Betty Cracker at Rumproast says if the rumor is true, she’s looking forward to the confirmation fight:

I’d love to see the brilliant, no-nonsense Ms. Warren on teevee analyzing the big shitpile and spelling out exactly how the GOP and its enablers stacked the deck in favor of their sugar daddies at the expense of the middle class.

While Public Citizen has been pushing for Warren to get the job because of her tough, bulldog  approach to Wall Street abuses, Liberaland’s Yashwanth Manjunath says if Obama really wants Warren for the job, he’d just bypass Congress and make her a recess appointment. He doesn’t see it happening, though, because neither the Democrats nor Republicans are all that interested in really reforming the financial markets.

This issue has nothing to do with “liberals” and “conservatives”; it has to do with power, and who really has it in Washington. Elizabeth Warren has no shot of being confirmed by this Congress because, as Dick Durbin once admitted, “the banks own the place.”

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Famed comedian and talk show host Stephen Colbert has long acknowledged “The Colbert Bump,” meaning the increased popularity of a person, website or issue after appearing as a guest or discussed on his show, The Colbert Report.

Here’s hoping that’s the case after last night’s show, because Colbert discussed a few issues near and dear to our hearts here at Public Citizen.

First, he discussed the new Consumer Financial Protection Bureau, created with the new Wall Street reform law, and mentioned Elizabeth Warren as liberals’ pick to head the new agency. (Public Citizen thinks she should.) But then — BAM — (more…)

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A photo of Elizabeth Warren

Wall Street reform is on its way to becoming law. Most central to financial reform is the creation of the Consumer Financial Protection Bureau. It is one of the bill’s hardest won and most meaningful reforms. But whether the new bureau delivers on its promise depends in large part on who runs it. There’s no doubt who would be the most effective leader of the new bureau: Harvard law Professor Elizabeth Warren.

Warren first proposed the creation of a new consumer financial protection agency. And as head of the Congressional Oversight Panel, she has led the commission that has been the official group that has been the toughest – by far – on Wall Street. Because of her accomplishments and because we know she will fight for consumer rights, Public Citizen asks President Barack Obama to appoint Elizabeth Warren to lead the Consumer Financial Protection Bureau.

Ever since she was first mentioned in the discussion about Wall St. reform, the banks have been fighting against Warren’s appointment. They know she has both the will and the intelligence to effectively regulate them and they will put all their might behind a huge lobbying effort to stop her nomination and appointment. We have to use our own power as citizens to secure her appointment. Sign our petition to get Elizabeth Warren to lead the Consumer Financial Protection Bureau.

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