Warren keeps up the populist drumbeat
January 18, 2010 | federal legislation, industry | Comments (0)Elizabeth Warren, the brains behind the Consumer Financial Protection Agency, is in panic and lashing out. From Reuters:
The head of a panel monitoring the government’s bank bailout program, Warren is a Harvard Law School professor and a fierce critic of the banking industry. She is also rumored to be front-runner to become the first chief of President Barack Obama’s proposed U.S. Consumer Financial Protection Agency.
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“The CFPA is the best indicator of whether Congress will reform Wall Street or whether it will continue to give Wall Street whatever it wants,” she told Reuters in an interview.
“The question of who is in control is not going to be revealed by some nuance of how to deal with leverage ratios or credit default swaps clearing,” she said.
Maybe some Senators simply think that creating a new government bureaucracy isn’t the answer to helping consumers.
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