If you have "no place to go," come here!

Another bank shot from The Big O on Elizabeth Warren

Obama will put Warren in special advisory role for consumer agency, sidestepping confirmation.

Well, that makes everybody unhappy, doesn't it? Obama's owners, who won't like that Warren is involved at all, and "the left," which hoped to be tossed a bone, and got a special advisor for a bone to be tossed later.

Oh, and if The Big O won't wage a confirmation battle on her behalf, what kind of signal does that send?

NOTE And I like Warren!

UPDATE Yves is skeptical. Booman, so far, has nothing to say.

UPDATE Looks like the conference call took place, a little late, which shows you the priority. Booman, this morning:

Predictably, there are those on the left [as if Yves were a poliblogger, which she isn't] who want to spin this [project much, Boo?] as some kind of sleight of hand move to marginalize Warren. Any such analysis is completely premature ["Wait 'til he does something!"] and it just reeks of petulance. [Booman seems to think. Booman seems to think that Yves is some C lister that everybody hates and nobody reads.] The law allows the Treasury Department to set the bureau up, and they ["They" being not the law, despite the rules for subject/verb agreement in English. I think the agent Boo has in mind is Treasury, and not Obama] have deputized Warren to do that job. She won't just report to Geithner, but also directly to the president, which gives her needed clout. [Or puts her in a box, with a divided reporting relationship, which is never good.]
And, while it is not clear ["Let me be clear..."] that she will eventually be named the director, she will clearly [Two "clear"s in a row? That's a tell that things are the reverse of clear] have the best argument [which she already had, so why wait?] for being named director since she will have been serving as acting director for many months prior to any nomination.

And to top it all off, Boo is either ignorant, spinning, or lying, since Warren isn't the "acting director," she's "a special adviser" to oversee the creation of the agency, whatever that means. What a pathetic performance. Honestly, is that all he's got?

No votes yet


Submitted by Paul_Lukasiak on

I mean, if Obama and the Congressional Dems weren't owned by the banks and wall street, they'd be salivating at the prospect of having Warren take on the GOP -- Warren has consistently demonstrated that she won't be initimated by the so-called "powers that be", and given that she's on the side of the angels (and the consumers) here, she'd wipe the floor with obstructionist Republicans.

Which tells me that the real reason there won't be a confirmation battle is that Dems like Schumer and Dodd who are wholly owned subsidiaries of the banks and Wall Street would have to choose between serving their masters, and looking like idiots by trying to impeach Warren's credentials or credibility...

Submitted by Hugh on

Senate Banking Committee Chairman Christopher J. Dodd (D-Conn.), who shepherded the landmark financial legislation through the upper chamber, told reporters this week that such a move could jeopardize the credibility of the fledgling consumer bureau

This from a man who has done everything in his power to spike both the CFPB and Warren's nomination. Anyone remember how Dodd once looked like he might be the progressive standard bearer? I would say that he has really involuted in the last few years, but the truth is he probably always was crooked. We were just desperate. I figure this is the bone, as in the only one, we progressives are likely to get before the November elections. And then Warren can be eased out early next year. That the White House would give us anything I take as a sign of how scared they are about November.

coyotecreek's picture
Submitted by coyotecreek on

Is this different than if she had been named and confirmed? She's now an advisor to the person who runs the committee....

I love EW, and I hope that she keeps her spine even if it means she has to resign because of her inability to get anything done.

coyotecreek's picture
Submitted by coyotecreek on

that's better! (Snark). Poor poor Elizabeth.

Why is she doing this?

Submitted by Hugh on

The CFPB is under the Treasury and so Geithner until it is set up and has a confirmed director. At that point, it goes to the Fed. Warren may have some influence on the CFPB but at the moment this is all atmospherics, and not very convincing ones, aimed at the November election. It's important to remember that the CFPB was largely gutted in the legislation. A special adviser can be a general troubleshooter and coordinator, but that does not mean she would be calling the shots. You can also see this as a move to keep Warren from becoming a focus for progressive political support.