Will Elizabeth Warren Get Her Chance to Protect American Families?

[onehandle]

As the horsetrading winds down, it's clear that Elizabeth Warren is the right choice to head the new consumer financial services protection agency. Will she be given the chance?

Many fans, including Representative Barney Frank, Democrat of Massachusetts, hope Ms. Warren will run it. But even if the agency is approved, it might be far weaker than what she envisioned, thanks to fierce opposition from the financial industry.

Critics argue that such an agency, which would regulate mortgages, credit cards and nearly all other loans to consumers, would tighten credit in an already tight market, stifle innovation and hurt small businesses.

They have another objection as well: to Ms. Warren herself. As one administration official acknowledged, the prospect of her running the new agency may be an impediment to its creation because of her crusading style, her seemingly visceral loathing of financial services companies and her expansive way of interpreting assignments.

http://crooksandliars.com/susie-madrak/will-elizabeth-warren-get-her-chance

[Mass]

1. I hope she runs against Brown in 2012.\nt

[Mudoria]

2. Stifle innovation?

You mean like Credit Default Swaps and other exotic financial devices that no one, even many financial firms, really understands or know the risks of? I'm sorry I trust Ms. Warren quite a bit more than the other financial experts currently running things in this administration.

[Bluenorthwest]

3. Warren is the only person in the administration with guts

and the brains to simply speak the facts. She has my respect, hands down, and she'd have my support or my vote anytime, simply by asking for it.
She frightens lesser people because she does public service while they are doing personal politics.

[polichick]

5. Yes, she really is an amazing public servant! nt

[DCKit]

6. Bernanke and Geithner should be made to report to her. n/t

[DirkGently]

4. "Expansive way of interpreting assignments"?

... as in, actually telling the truth and trying to do some good? Perish the freaking thought.


:banghead: