An Elizabeth Warren loophole?

[babylonsister]

http://www.salon.com/news/elizabeth_warren/index.html?story=/tech/htww/2010/09/13/an_interim_job_for_elizabeth_warren

An Elizabeth Warren loophole?
Wall Street gets nervous as yet another tea leaf reading signals the White House is ready to make a move
By Andrew Leonard


Citing unnamed sources, American Banker is reporting that the White House "is considering appointing Elizabeth Warren as interim head of the Consumer Financial Protection Bureau, bypassing a likely Senate confirmation battle..." (Hat tip, a A tweet from Felix Salmon.)

Under the Dodd-Frank regulatory reform law signed July 21, the Treasury Department has the power to appoint a temporary director of the new agency until a permanent one is nominated and confirmed.

By naming Warren interim head, the White House would sidestep -- for now -- a likely fight over her nomination. Obama can still choose to formally nominate Warren sometime next year, or select another candidate if she becomes too polarizing.

Way back in late July, the Huffington Post's Shahien Nasripour was the first to report on the provision in the Dodd-Frank law that could allow the Treasury Department to appoint whomever it liked as interim director of the CFBP without requiring either a "recess" appointment or Senate confirmation. Nasripour also reported that Treasury Secretary Tim Geithner was opposed to her nomination, however, so at the time there was good reason to wonder whether there was any chance the White House would pursue that route.

But since then, momentum, at least among progressives, has only grown in support of a Warren nomination, and many administration-watchers interpreted President Obama's warm comments about the consumer advocate in his press conference Friday as all but sealing the deal.

snip//

And then there's Judith Kennedy, president of the National Association of Affordable Housing Lenders, a Washington-based lobbying organization:

"I think an interim director who has not already been confirmed by the Senate carries the same baggage as a recess appointment," {said Judy Kennedy,}. It is "probably not a good way to start this agency."

A look at the Board of Directors of the NAAHL reveals a who's who of executives from Wall Street's biggest banks, many of whom might not be expected to welcome an aggressive defender of the public interest against the predations of irresponsible financial institutions.

Kennedy may be right -- if Warren is appointed without a Senate hearing, she will be bringing some baggage with her. But I don't think that's why her critics are nervous.

[MannyGoldstein]

1. $5 says it'll be a recess appointment

Obama wants an expiration date on Warren.

[scheming daemons]

4. No, he wants to give her the "power of incumbency"

Obama loves Warren. Warren loves Obama.


You're a crank who won't be happy until/unless the GOP is back in charge.



Your every post is designed to kneecap the President, pulling support away from him with your F.U.D. spreading.

(Fear, Uncertainty, and Doubt)

[kenfrequed]

6. err...

You do realize the repukes will fillibuster the ever loving crap out of her nomination right?

Would that make the gift of "the power of incumbancy" like the gift of a Unicorn? Mythical, irrelevant, and ultimately unlikely to actually be bestowed?

[MannyGoldstein]

15. Well... take me up on my wager.

Think of how you can publicly shame me when you prove me wrong. Hell, I'll publicly shame myself.

Go for it.

[dionysus]

7. you can't eat a bowl of cereal wihtout taking swipes at obama. you're shameless & transparent manny

[Beetwasher]

9. Delete

[geek tragedy]

11. Bet for you: How about you post a thread praising Obama for the pick

if he does an interim pick without an expiration date or if he submits her nomination to the Senate?

I will post a thread saying we were wrong to expect him to fully support Warren if he either fails to nominate her or does a recess appointment.

Deal?

[MannyGoldstein]

16. Absolutely - I'd love nothing more than for Obama to do the right thing

And I'll proclaim it from the rooftops if he does.

I badly want Obama to succeed - if he doesn't, then we're horribly screwed for at least several years.

However, what I *want* him to do and what he's *actually* doing are quite divergent.

[mucifer]

2. This theory is running all over the internets, Huffington Post, Fire Dog Lake.

Guess we have to wait and see what happens.

[bluestateguy]

3. It's probably the only to get her appointed

The other options are

1) appoint her the regular way and do nothing, ensuring her defeat

2) appoint her the regular way and get in engaged in a grueling to the mat fight to get her confirmed; no guarantee of success

3) don't appoint her at all and anger the liberals, who are pissed enough as it is right now

So I like the recess appointment approach

[Peacetrain]

5. I think E. Warren will be appointed.. much to the distress of some

[Tatiana]

8. Smart move. Get her in there and to work immediately.

Then the people (and Congress) will have a chance to see the fruit of her labor and will be unable to muster any objection to outright confirming her.

[Beetwasher]

10. Delete

[Cha]

12. We'll just have to get over that...

"I think an interim director who has not already been confirmed by the Senate carries the same baggage as a recess appointment," {said Judy Kennedy,}. It is "probably not a good way to start this agency."

At least she will get started.

[Nancy Waterman]

13. I think this is a brilliant move!!

Sidestep the GOP and their interminable filibusters. Time to fight back!!
Then when he does nominate her, it doesn't matter if they tie it up in another filibuster,
she is already in. Let her sit there for years as interim chief while her nomination gets
bogged down, if need be.

[Cha]

14. Yes! And, let them scream until they

turn BLUE!