Archive | August, 2010

Another Senate candidate pipes up

What is going on here?  From the story

Elaine Marshall, running for US Senate from North Carolina, has become the latest Democratic candidate or Senator to endorse Elizabeth Warren for the position of director of the Consumer Financial Protection Bureau. Marshall, the Secretary of State of North Carolina, cited Warren’s experience in “taking on Wall Street on behalf of consumers” as chair of the Congressional Oversight Panel as a reason for her support. Just today, Chris Dodd questioned Warren’s experience in running a federal agency.

Protecting consumers and local investors has been a top priority for me as Secretary of State. My office has returned over $500 million to North Carolina investors from Wall Street banks for their fraudulent misrepresentation, and fought to protect consumers by putting Ponzi schemers behind bars and cracking down on counterfeit goods.

I know what it takes to protect consumers, and Elizabeth Warren has it.

Elizabeth is highly qualified, highly educated, and has dedicated her career to being an advocate on behalf of consumers and ordinary Americans. I strongly encourage President Obama to appoint her, and ask Senator Richard Burr to help confirm her.

I’ve never heard of Senate candidates weighing in on the appointment of an agency head. 

Posted in CFPB Nomination, Elizabeth Warren, federal legislation, Financial Reform Bill - CFPB0 Comments

Professor Silber for Professor Warren

We get a history lesson on the FDA as well.   From an op-ed in The Hill

This might sound like today’s debate over the choice of the new director of the Bureau of Consumer Financial Protection—but it is a more accurate reflection of the drama that played out a century ago, in 1906, when the first director of what became the Food and Drug Administration was selected by President Teddy Roosevelt.

Landmark legislation can finally protect the public from hidden dangers which might happen to any of us any day. For the first time we have the real prospect that products will be safer and that we will know more about the dangers in store. But this can happen only if the new Agency has an independent and assertive start under an experienced leader with loyalties that run toward the public interest, and not toward special interests who have from the start tried to kill the new authority. The new director will, for better or worse, personify the strength of this new effort. There can hardly be any doubt about who the head of the new agency should be. The question is who will it actually be?

Posted in CFPB Nomination, Elizabeth Warren, federal legislation, Financial Reform Bill - CFPB0 Comments

Dodd hedges on Warren

From The Hill

The chairman of the Senate Banking Committee on Tuesday hedged when asked whether or not he would back Elizabeth Warren to head the newly-created Consumer Financial Protection Agency (CFPA).

“If the president wants to name her and it goes through the hearing process, then fine, she’ll have my support,” Sen. Chris Dodd (D-Conn.) told the Hartford Courant editorial board. “But she has to tell me more than just she’s a good consumer advocate or that’s she’s got a great campaign.

Posted in CFPB Nomination, Elizabeth Warren, federal legislation, Financial Reform Bill - CFPB0 Comments

Announcement timing

Last week I thought Warren would be appointed this week.  I based my guess on a blog post in The Nation newspaper.  However, the President is on vacation.  Certainly, it could still happen while he’s in Martha’s Vinyard, I just don’t think so.   My new guess?  The first day he’s back from vacation.

Posted in CFPB Nomination, Elizabeth Warren, federal legislation, Financial Reform Bill - CFPB4 Comments

More Warren news

Franks seeks meeting with President to push Warren.

She gets a mixed review from Fiscal Times

And the rap video we posted the other day is getting out everywhere.

Posted in CFPB Nomination, Elizabeth Warren, federal legislation, Financial Reform Bill - CFPB0 Comments

Keep your friends close

But your enemies closer.  From The Washington Post:

Elizabeth Warren, a top candidate to lead the new Bureau of Consumer Financial Protection, met quietly last week with some of her sharpest critics: big bank lobbyists.

Posted in CFPB Nomination, Elizabeth Warren, Financial Reform Bill - CFPB0 Comments

Under attack in Mississippi

The industry is fighting back with a new website.

Posted in Center for Responsible Lending, Mississippi1 Comment

Craziness in Colorado

Must be slow news day out there.

Posted in Colorado0 Comments

Comment of the Day

I was at movies yesterday and paid $15 for bucket of pop corn and medium soda. I could have had both for less than a $1 at home but I ended up paying 15 times more than it was worth.

Should we call that predatory selling? And should we have our States and Federal government to regulate it, crack down on it, or ban it?

Posted in Uncategorized0 Comments

Candidate weighs in

This is strange.  Now a Kentucky Senate candidate is supporting Warren.

Posted in CFPB Nomination, Elizabeth Warren, federal legislation, Financial Reform Bill - CFPB0 Comments

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