Obama Eyes Ex-Banker, Raj Date, to head Consumer Financial Protection Bureau!

[Better Believe It]

Just what the doctor ordered. A big time banker protecting consumers from the banks. BBI

Obama Eyes Ex-Banker for Consumer Chief
By Carter Dougherty, Robert Schmidt and Mike Dorning
June 8, 2011

President Barack Obama is considering nominating Raj Date, a former banker with Capital One Financial Corp. (COF) and Deutsche Bank AG, as head of the Consumer Financial Protection Bureau, according to a person briefed on the process.

Date’s nomination could be a way for the Obama administration to tamp down political controversy over the leadership of the consumer agency, which is one of the centerpieces of Dodd-Frank. Warren could urge her supporters to endorse his nomination, and his industry experience has been praised by banks that would fall under the bureau’s oversight.

Still, after 44 Republican senators announced last month that they wouldn’t vote to approve any candidate to run the bureau without changes in its structure, the White House might have to resort to a temporary appointment during a congressional recess. Sixty of the 100 senators are effectively required to vote for a nomination due to procedural rules.

Date, 40, earned an engineering degree from the University of California at Berkeley and a law degree from Harvard University. He was senior vice president for corporate strategy and development at Capital One and a managing director in the financial institutions group at Deutsche Bank. During the debate over Dodd-Frank, Date headed the Cambridge Winter Center for Financial Institutions Policy, a research group he founded.

Read the full article at:

http://www.bloomberg.com/news/2011-06-08/obama-eyes-ex-banker-for-consumer-chief.html

[tekisui]

1. Horrible choice.

[Marr]

2. Bet you $10 Obama eventually does a recess appointment, and installs some

bank stooge like Date. Liberals will ask why he didn't just install Warren if he was going to do a recess appointment, and Obama will disappear in a bipartisan puff of smoke.

[Better Believe It]

3. I think you are probably right. And some will excuse and try to justify such action.

[Angry Dragon]

4. Change the name of the agency to:

Banking Financial Protection Bureau

[Donnachaidh]

5. He's gotten quite adept at appointing foxes in the henhouse, eh?

More *Change You Can Believe In*. ....

[vi5]

6. If he does a recess apointment of anyone other...

..than Warren. That will rightfully stir up a hornets nest. And it should. Right now he's hanging barely on to my vote but lost all money and legwork support. If he does a recess appointment, not only of someone other than Warren but someone with ties to banking.......he's not even getting my vote.

[SidDithers]

7. Why would Warren urge her supporters to endorse the nomination...

if she wants the job?

Sid

[PassingFair]

11. Um...because she realizes the administration is too churlish to give it to her?

We had to live with Bolton's recess appointment.

Why can't they live with Warren?

Hint: Because WE don't want a FOX in what is now OUR hen house.

[Bonhomme Richard]

8. All I know for a fact is that anyone who is OK with repugs...

is not OK with me.

[Bandit]

9. Another LOYAL American about to be sold down the river by this Administration

Someone that has nothing but the best interest of America at heart and what do they get? The Obama treatment...He is simply not a trustworthy man.. deal with it..

[FiveGoodMen]

10. Example #1,078,384 that Obama is a republican

[inna]

12. does Obama *ever* throw any bones/(crumbs?) to his (supposedly) "base"?

i.e, the majority of working people that he's supposed to represent? :shrug:

[hifiguy]

13. Hello there, Mr. Fox

I have decided to place you in charge of henhouse security. I can think of no one with better qualifications.

Sincerely,

The POTUS