Obama can't find someone to head the CFPB over Elizabeth Warren....

[midnight]

The Wall Street Journal dropped a bit of a bombshell yesterday when it intimated that the reason the Obama Administration hasn’t been able to choose a director of the Consumer Financial Protection Bureau is that their preferred candidates don’t want the job over Elizabeth Warren:

White House officials seeking someone to run the Consumer Financial Protection Bureau have so far failed to find a nominee, with several candidates rebuffing the administration’s overtures, according to people familiar with the process.

One concern of some: That accepting would undercut Elizabeth Warren, the Harvard law professor and consumer advocate who is currently a special adviser to the president charged with setting up the bureau. She remains a hugely popular figure among many Democrats and anathema to many Republicans <...>

That deadline could result in the White House nominating Ms. Warren, now a special adviser to the president charged with setting up the bureau. She is believed to want the job but her candidacy likely would trigger a Senate confirmation battle. President Barack Obama could avoid that fight by appointing her during a congressional recess before July 21.
http://news.firedoglake.com/2011/04/14/nobody-will-take-cfpb-job-over-elizabeth-warren/#comments


Anyone have current information on the work Elizabeth has been doing to set the bureau up? Well, she must be doing an outstanding job if Obama cant find anyone welling to take it....

[and-justice-for-all]

1. Well obviously she should keep the job then..nt

[frazzled]

2. Wow, that's not even fourth-hand inuendo

I love typical FDL lines like "she is believed to want the job." What the hell does that mean? If they gave out awards for non-agentive use of the passive voice, that site would win it. Who believes that? The proverbial "some people"? God, I hate that site.

As to what Elizabeth has been doing to set the bureau up? Well, she has been hiring a slew of Wall Street CEOs to work there. I await FDL to apply the same level of vitriol directed at the president to Ms. Warren. I'm not not criticizing her: I'm criticizing FDL.

Elizabeth Warren, the Harvard University law professor who is setting up the Consumer Financial Protection Bureau, announced her latest string of hires on Thursday, including former managing directors at Deutsche Bank and Morgan Stanley.

Congress created the Consumer Financial Protection Bureau to protect consumers from abuses in the lending industry. Now the bureau is turning to former members of the industry to help it police banks, credit card companies and mortgage lenders.

“Building a team to develop smarter financial regulations means hiring top-notch leaders with a wide range of experiences,” Ms. Warren said in a statement.

The bureau’s hires announced Thursday include Rajeev Date, the former Deutsche Bank managing director. Mr. Date, who also worked at Capital One Financial as a senior vice president, will be the bureau’s associate director for research, markets and regulations.

“Raj Date and his team bring a wealth of experience in the financial services industry, government, nonprofits, community banking and academia,” Ms. Warren said.

Ms. Warren also hired Elizabeth Vale, a Morgan Stanley managing director who was vice president and portfolio manager at Philadelphia National Bank. Her industry experience will come in handy — she will serve as a liaison to community banks and credit unions.

Ms. Warren’s hires also include a former financial industry lawyer, a former senior employee at the mortgage-finance giant Freddie Mac and Corey Stone, who once was the chairman of Start Community Bank in New Haven, Conn.

The bureau has gone on a hiring spree in recent weeks. As of late January, the bureau had more than 100 employees.

http://dealbook.nytimes.com/2011/02/17/consumer-watchdog-hires-former-bankers/