President Obama wants to do an end-run around congress to appoint Elizabeth Warren, a social justice crusader, to be the next “Wall Street Czar.” But even liberals don’t like the way Obama’s going about things.
Senate Banking Committee Chairman Chris Dodd (D-Conn.) said Thursday the Obama administration is leaving a new consumer protection bureau “vulnerable” by circumventing a confirmation process to name Elizabeth Warren to help create the new agency.
The top Senate negotiator on the Wall Street reform law has repeatedly expressed his opposition to naming an interim or recess appointee to run the agency. But sources say President Barack Obama plans to name Warren as a presidential adviser, charged with setting up the agency in a position that would not require Senate confirmation.
“We need a director. And you need someone that’s confirmable. And anything short of that, I think, you put this bureau in some jeopardy. Without it being established and up-and-going. it’s vulnerable,” Dodd told reporters. “We still need a nominee. I hope that they send up a nominee sometime in the next few weeks, even in the lame duck, I don’t see why [we] can’t have hearings and consider who should actually run the place.”
Well, can we all now agree that Obama doesn’t give a hoot about putting our economy, or anything else we hold dear in jeopardy? By now it’s obvious to anyone paying attention he’s doing it on purpose!
ABC News sort of downplayed it. (Yeah, shock! I know!)
Here’s the thing. Elizabeth Warren is obsessed with “social justice.” Senator Judd Gregg brought it up on Thursday. This is not a woman concerned about the economy. She’s concerned about her agenda.
“This position, as it’s structured under the financial reform bill, is going to be one of the most powerful positions in Washington. It creates a person in charge of an agency, which is going to have almost a billion-dollar budget, which is not overseen by the Congress.”
Asked why he thinks Warren is wrong for the job, Gregg said:
“My concern is that she would use the agency for the purposes of promoting social justice versus for the purposes of promoting better credit and having a stronger financial system,” he said.
“When you separate the credit process from the banking regulatory atmosphere, you’re creating a basic conflict there. And if you’ve got somebody in charge there who’s going to have to supply credit — who’s got a social-justice agenda versus an agenda of getting credit out to people who can actually pay it back and making sure that those people are told what the cost of their credit is — you’ve got a problem for the banking system. And we’ve already been through a banking-system problem. We don’t need another one.”
But it isn’t just Senator Gregg talking about this woman. The far left Netroots Nation loves her and her progressive economic vision.
Don’t miss your chance to hear from six true progressive champions.
Time magazine calls her the Sheriff of Wall Street. Since taking the reigns overseeing the Troubled Asset Relief Program, Elizabeth Warren has pushed back against one of the most well-connected, well-funded industries in DC — big banks.
As the chief advocate for new consumer-finance regulations that banks have spent millions to oppose, she’s created stronger protections for American families, in turn leveling the playing field between Main Street and Wall Street.
And who else does Net Roots Nation love? Why, Richard Trumka of course!
At the same time, Richard Trumka rallied workers across the country to march on Wall Street to protest financial sector greed and lending practices by big banks. And on Capitol Hill, Rep Alan Grayson led a campaign to audit the Federal Reserve that passed 96-0 in the Senate.
Nothing there on the greed of the unions, or their leaders, like Warren, who are “leading thinkers and fighters for progressive values.” Haven’t we seen enough of what progressive values get us?
This is just another example of the petulant child known as our president doing whatever he has to do to get his way.