Warren vows end to "tricks" with consumer agency

[cal04]

Source: Reuters

Wall Street critic Elizabeth Warren said on Friday she accepted the job of setting up a consumer financial protection agency for U.S. President Barack Obama and declared that the time for financial "tricks and traps" was over.

Obama was expected to announce his appointment of Warren, a Harvard University professor and hero to liberal activists, at 1:30 pm EDT, taking a step forward in enacting the financial reform that is a signature achievement of his presidency.

The Consumer Financial Protection Bureau, which is Warren's brainchild, will have broad powers to write and enforce regulations covering mortgages, credit cards and other financial products.

(snip)
Warren said in a blog post on the White House website that she had "enthusiastically agreed" to take on the role.



Read more: http://news.yahoo.com/s/nm/us_financial_regulation_warren

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Fighting to Protect Consumers
Posted by Elizabeth Warren on September 17, 2010 at 6:00 AM EDT
http://www.whitehouse.gov/blog

[maddezmom]

1. K&R

thanks for posting :hi:

[lunatica]

2. My goddess! A ray of hope in an ocean of despair!

I only hope it isn't too late.

[pleah]

3. K&R Oh, I hope so! n/t

[xchrom]

4. i hope so -- the country needs it. nt

[elleng]

5. Interim Plan for Warren Raises Even Supporters’ Eyebrows.

“I congratulate the administration on its creativity,” said Mr. Frank, a Massachusetts Democrat who is close to Ms. Warren. “There’s no possibility she would take something like this unless she was fully empowered to do the job.”

The liberal coalition MoveOn and the National Organization for Women also endorsed the appointment of Ms. Warren.

A White House official briefed on the decision said Mr. Obama and Ms. Warren both felt it was better to get her started on establishing an agency from scratch than on getting mired in a long confirmation fight or a controversy over a recess appointment.

http://www.nytimes.com/2010/09/17/business/17warren.html?_r=1&hp

Elizabeth Warren: ‘I Accept’

“The President asked me, and I enthusiastically agreed, to serve as an Assistant to the President and Special Advisor to the Secretary of the Treasury on the Consumer Financial Protection Bureau,” Ms. Warren wrote. Then she added, perhaps in a veiled reference to the president’s decision to appoint her as his assistant now, rather than going through what could be a lengthy Senate confirmation process: “He has also asked me to take on the job to get the new C.F.P.B. started — right now.”. .

She finished with a story about her grandmother, Hannie Reed, who at age 16 drove a wagon in the Oklahoma land rush. . .

"It’s time for all of us to pull up our socks and get to work,” she wrote.

http://thecaucus.blogs.nytimes.com/2010/09/17/elizabeth-warren-i-accept/?hp

[wordpix]

11. sounds like Dodd wants the job

just sayin

[Altoid_Cyclist]

6. Go get them Elizabeth!!

My only worry is that there is so much entrenched evil in the financial sector that what we really need is a few dozen people like Elizabeth Warren.

OTOH, it's a large step in the right direction so this is great news going into the weekend.

I can only imagine what the (R)'s will do to try to discredit her. And even though he's a (D), Sen. Dodd can stick it where the sun doesn't shine also.

[florida08]

7. very good news

She will need all the help she can get and ours. We have to keep the Congress we have..you know the republicans will seek to marginalize her at every turn. Let's band around her and the president. Might be our last shot

[Spazito]

8. Excellent! I know there were DUers who wanted to hear Ms. Warren's thoughts...

on her appointment and whether she would be given the "tools" to get it done so I hope, now, that she has stated this:

"The President and I are committed to the same vision on CFPB, and I am confident that I will have the tools I need to get the job done."

their concerns have been addressed. Ms. Warren is a woman of high integrity and to see her appointed to this position is fantastic, imo.

[Kingofalldems]

9. Yeah! Yeah!

The Secret Republican not liking this one. Seems to be on steroids today, 'bad things about Democrats' all over the place. ----->:shrug:

[wordpix]

10. FANTASTIC!!! Big thumbs up---thank you, Barack Obama!

:woohoo: :applause:

[ClarkUSA]

12. "The president and I are committed to the same vision on CFPB... "

... and I am confident that I will have the tools I need to get the job done." ~ Elizabeth Warren, 17 September 2010

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=433x445561

:woohoo: President Obama, you are the best liberal president in my lifetime (and the only one). :woohoo:

[laughingliberal]

13. K & R nt

[boppers]

14. Good luck and godspeed.

Let us know how we can help.

[unkachuck]

15. Excellent!....Thank you Mr. President!....n/t

[harun]

16. Release the hounds !!!!!!!!!

[JNelson6563]

17. I have every confidence she'll do what she says she will.

And I'll be cheering her every step of the way.

Julie

[earcandle]

18. Hail Elizabeth Warren! Who GOT THROUGH! thank you sooo much!

We got your back.

What do you need from us? 

[Vidar]

19. Rahm & Geither will manage to marginalize her, unfortunately.