Reply #93: While I understand your argument, there is nothing preventing her from hiring an operating officer [View All]

[BzaDem]

with lots of experience in building up agencies.

This job more than most will require someone who is zeolous about protecting the consumer. She is very experienced at the policymaking level. Her academic work is superb, and her role in investigating TARP has shown she is a strong advocate for the consumer and a strong skeptic of big banks.

Having someone who is dedicated to the mission of the agency with great expertise in the policy areas the agency covers is not only important in its own right. Having someone like Warran will attract lots of talent to work for her, and a talent-rich environment will attract even more talant. She is very well respected in this area. On the other hand, having a less well known and less zeolous advocate might hurt their ability to attract good employees to work for the agency.

As for the nuts and bolts of building up the agency, she can delegate much of that to a more experienced operating officer. This gives us the best of both worlds: someone experienced at actually running day-to-day operations and building up an agency, with Warren to set the overarching vision, strategy, and policy direction of the agency. The operating officer would of course report to Warren.