Jake Tapper of ABC News reports that Obama will appoint Elisabeth Warren as Assistant to the President & Special Adviser to the Secretary of the Treasury on the Consumer Financial Protection Bureau. This is going to bypass the a Senate confirmation process which could drag on for months. Warren has been the moving force and advocate for a consumer financial products protection agency. She has been working closely with the president as Chair of the Congressional Oversight Panel of the Troubled Assets Relief Program. She will answer directly to President Obama and to Treasury Secretary Geithner.
Yippy!!! (this democrat is doing a happy dance)
It is about time for the White house to do something to excite the democratic base. This is a way to get the agency set up with out the republican senators holding it up through the appointment process. Now there will be criticism that this will not satisfy the liberal left but it is going to be very gratifying to the consumers that wants oversight on credit products. Banks are still out there making up ways to fleece the public. Warren is very out spoken and will forge the way for a strong protection regulatory agency.
Now if the Speaker of the House can get a bill through on taxes that will let the Bush tax cuts to expire on the wealthy and keep the cuts for the middle class and Reid pushes it through the senate in the next few weeks after they get the repeal done on DADT, there will be more than me hitting the voting booth with relish to vote against the Tea Party.