Why Obama will nominate Warren (Felix Salmon)

[swag]

http://blogs.reuters.com/felix-salmon/2010/07/23/why-obama-will-nominate-warren/

The nomination of Elizabeth Warren to head the Consumer Financial Protection Bureau seems to be a foregone conclusion at this point. Warren and the large team of Warren enthusiasts have been pushing her nomination aggressively, to the point at which no one in the Obama administration is going to want to face the political firestorm associated with not nominating her.

This is no horserace: Warren’s running only against a vague conception of not-Warren, rather than against a flesh-and-blood Michael Barr or anybody else. Here’s Charlie Rose, for instance, questioning Tim Geithner on the subject in the very first direct question of his interview:

Charlie Rose: Will Professor Elizabeth Warren be the new director of the consumer agency?

Tim Geithner: Let me just say that she is an incredibly capable, effective advocate for reform. She was way ahead of her time, way ahead of the country in pointing out what was actually happening in the credit business. All the bad stuff that was happening, the looming housing crisis, she was pioneering and pointing out those risks. And she is a — I think probably the most effective advocate of reform we have in the country on these questions. So like I say, I think she’d do a great job in that position…

Charlie Rose: She has the qualities you’re looking for.

Tim Geithner: Oh, absolutely, without a doubt, without a doubt. But that’s the president’s decision to make.

Charlie Rose:

I understand. The other question is whether her nomination will be approved by the Senate if she’s nominated. There’s some political controversy there.

. . . more

[Enrique]

1. that would be great

my money's on Fabulous Fab getting the job, but I hope I'm wrong.

[truedelphi]

9. Who is Fabulous Fab?

Are the British re-invading us? (I hail from the Fab four era, sad to say. At least sad to say in terms of keeping up with the more current stuff.)

[Enrique]

11. you need to watch The Young Turks

they had a lot of fun with Fabrice Tourre, the French trader, with Goldman Sachs i think, who gave himself that nickname.

[truedelphi]

12. Thanks for the explanation. Oh good old Fabrice.

I did watch the TYT vids on that - but senior moments intervened.

[davidinalameda]

2. he has too

or else what's left of his base will really be pissed

[Cant trust em]

3. "Geithner is at heart a technocrat, rather than a fighter or an ideologue"

Interesting take.

[Demeter]

6. Geithner is an Idiot and a Banker's Tool

other than that, he's totally unqualified for any office or responsible job.

On edit:

Much as this would be a GOOD THING: Elizabeth Warren in an executive, policy position; don't hold your breath. If there's a way to screw it up, the Boys from Goldman and Chicago will. Guaranteed.

[Cant trust em]

4. The GOP will go apeshit about nearly anyone, so we might as well go with Warren. nt

[unblock]

10. republicans are so predictable, aren't they?

i often wonder why the media "goes to" a republican for their reaction to anything.

they go to a democrat who gives a balanced, thoughtful, analytical view, sometimes coming out on the left, sometimes on the right. you can't predict what any particular democrat will say because they respond to a different view of a slightly different set of facts and constituencies and so on.

then they go to the republican who ALWAYS gives the right-wing view. the anchor or the democrat would have been easily capable of saying what the right-wing view is without bringing on an actual human being to represent an automatic viewpoint.

[66 dmhlt]

5. From your lips to God's ears!

[JDPriestly]

7. In my view, if Obama's financial reform is to work at all,

he needs Elizabeth Warren in that position. He has lots of advice and counsel from bankers and big business and union leaders. All of those people, bankers, big business and union leaders are also consumers. But they as well as we need someone like Elizabeth Warren to protect our personal economic interests.

[yurbud]

8. In a real democracy, she would have Geithner's job and his head in a pickle jar on her desk

[truedelphi]

13. Scene at a Washington Deli - "So do you wanna Vlasic,

Or a Geithner pickle with that?"

Finally putting Timmy to good use!

[yurbud]

14. but who would buy it? Maybe parents would use him like brussel sprouts, to threaten kids