GMA transcript: President Obama on Elizabeth Warren

[ProSense]

'GMA' Transcript: President Obama on Financial Reform, Elizabeth Warren and Shirley Sherrod

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LEAMY: One of the elements of the new law is this Consumer Financial Protection Bureau --

OBAMA: Right.

LEAMY: -- which, as I understand it, was the brainchild of Harvard professor, Elizabeth Warren. And people in your own party are hoping that you will nominate her to head that agency.

OBAMA: Right.

LEAMY: On the one hand, big business is adamantly opposed.

So everybody wants to know, will you nominate Elizabeth Warren to head this agency that she thought of?

OBAMA: Well, fir -- first of all, it's important to note that I've known Elizabeth Warren for a long time because I was a student at Harvard when she was a professor there. During the campaign, I actually brought in Elizabeth Warren to help design proposals for consumer protection. She is, I think, a wonderful voice making a very simple point, which is, if you've got a set of rules and standards in place to make sure your toaster doesn't blow up in your face, you should have some rules and regulations to make sure your credit card or mortgage doesn't blow up in your face.

And so I have the highest regard for Elizabeth. We have not made a decision about who we're going to appoint yet, but here's my guarantee, is that Elizabeth is going to be working with me, working with Tim Geithner, the Treasury secretary, to help in thinking about how do we make this consumer agency as effective as possible looking out for consumers. She is going to be actively involved in that process.

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[katandmoon]

1. I'll take that as a "no."

[Toucano]

2. Sure sounds like it.

I hope I'm wrong.

[nickinSTL]

3. of course it's a no

she's opposed by big business.

[midnight]

4. Amongst all the strange instruments that have been created

by crazy wall street criminals, E.Warren brings simplicity to the mess cuz she knows what they were doing, and she knows how to stop it.

[LeftyAndProud60]

5. She's walking in the crosswalk, but that bus is coming along. NT

[ProSense]

6. Any other perspective

that is not pessimistic?

[90-percent]

7. my recent letter to the white House about Shirley

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=433&topic_id=380546&mesg_id=382521

Last paragraph:

Lastly, could you please show America that you are for we the people instead of the corporations? Our Founding Father's would be aghast at the level of corporate influence permeating our government. Elizabeth Warren's potential appointment will be the tipping point for me in any of my future support for your Administration. You should purge all corporate lobbyists from your administration, not continue to appoint them!

I feel strongly about Warren's appointment!

[nevergiveup]

8. You can read this both ways.

I believe it is a done deal and she will be appointed. Her appointment would be a coup d'etat for Obama and he is way too smart to let this opportunity slip away.

[Uzybone]

9. Sounds like they haven't yet decided...but she is high on the short list

I hope she is the choice.