Friday, September 17, 2010

Elizabeth Warren: Too Much Truth to Power?

President Obama wanted to sidestep a Senate confirmation fight regarding who should officially lead/set-up the new Consumer Financial Protection Bureau.   So, rather than set it up so that Harvard Law Professor Elizabeth Warren - one of the very few, to be sure, who is not in the bankster /corpocracy's pocket -  could officially lead the new agency - that she advocated for since 2007 - through an interim appointment, President Obama appointed Warren as a "special adviser" to set up the agency under Treasury Secretary Timothy Geithner.  While that's all well and good, Obama did not say whether he would  appoint her to permanently (5 years)  direct the agency.

However, if Warren unofficially leads the consumer agency, if she is not nominated and confirmed as the permanent director of the consumer agency, then can we assume she is merely a transitional figure with little power?  If that's the case, she will certainly lack the power/authority needed to act as the "tough cop on the beat" that President Obama stated as a necessity to protect consumers and keep Wall Street in line.

Or, is this the way to stifle Warren's straight-forward, speak-truth-to-power approach?  After all, she will be under the thumb reporting to Geithner, someone who she has shared a tenuous relationship, and, someone who previously expressed opposition to her possible nomination to head the Consumer Financial Protection Bureau.

Let's hope Elizabeth Warren is really on track for the permanent appointment and this is not a case of, "keep your enemies closer".

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