Warren was *not* appointed to run CFPB

[MannyGoldstein]

She has a pretty title, but there's no evidence that she'll have any power.

From CNN:

It was unclear how much authority Warren would have in the advisory role.

The Democratic official said that appointing Warren as an advisor would allow her to get involved immediately in setting up the agency. If nominated to be the new agency's director, she would be unable to play a decision-making role until confirmed, the official noted.

Obama can still nominate a director of the new bureau, and Warren will participate in the selection process, the official added.

As to whether Obama and Geithner will let her have any power in protecting consumers, I suppose each one of us can look at their track records and come to our own conclusion. Remember, Warren took off the gloves in calling out Geithner for what he's done:

http://www.youtube.com/watch?v=pz7ruJw6byQ
http://www.youtube.com/watch?v=qUZWSi9HL_Y&feature=related

[elehhhhna]

1. does obama think we're stupid?

were I her, I'd tell him to pound it

[Name removed]

2. Deleted message

Message removed by moderator. Click here to review the message board rules.

[MannyGoldstein]

6. He thinks we have short attention spans

Which is why he's dragging this out. Like he's dragging out Social Security cuts.

[ProSense]

9. No, but CNN does. n/t

[elehhhhna]

40. okay, that's valid. need more info.

[FrenchieCat]

14. Perhaps Ms. Elizabeth is smarter than you give her credit.......

She may not be about only criticizing and looking for flaws
and nothing else.

[deaniac83]

34. No, and I'd like her appointed outright

Yesterday, on my blog, I explained why Elizabeth Warren should be appointed via the regular process:

http://www.thepeoplesview.net/2010/09/merits-of-appointing-elizabeth-warren.html

However, there is a case to be made for what Obama is doing. I think he will still appoint her to head the agency later on. But if you read my article you will see that an examination of the law shows that the agency has no substantial powers until a "designated transfer date" - to be set by the Secretary of Treasury, which is between 6 months and a year from the date of enactment of the new financial reform law. So even if she is confirmed now, she can't be issuing regulations until that date anyway. What Obama is trying to do is to avoid a confirmation fight in the Senate but getting her involved in forming the agency now.

I disagree with the President on this tactic - it's one of the rare occasions I have done so. But it is not entirely without merit.

[vaberella]

38. That would be great if there was something to be appointed for.

Her role is to get this department up and running, until that happens, there's nothing---no staff. You need the resources and labor in order before you get appointments. that's like appointing someone the CEO of a company that has no staff or even office. Makes no sense.

[deaniac83]

44. Well according to the law

the first Director gets to make all the staff appointments. If she's it then she will get to do that. I do hope she eventually gets appointed to that post.

[vaberella]

64. If that's the case, then it's up in the air again.

There is not even a building assigned from what I've heard. There is nothing done except having the paperwork on what the organization does. She's too oversee that all of that takes place.

[vaberella]

36. You don't seem to konw what you're talking about. n/t

[geek tragedy]

37. Do you think you're smarter than Elizabeth Warren? nt

[elehhhhna]

41. perhaps. time will tell, eh?

[geek tragedy]

49. I think the answer is pretty clear. nt

[jefferson_dem]

50. Aye.

Surely, you know better than her ... what's good for her.

You're obviously spilling over with respect for Ms. Warren. :eyes:

[Name removed]

53. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Nicholas D Wolfwood]

79. I can't believe I'm saying this, but I agree with Manny.

This person IS stupid.

[emilyg]

57. All of D.C. thinks we're stupid.

[vaberella]

68. dupe. n/t

[harun]

87. They think the public is stupid because they are. Most will buy this and they know it.

[SoxFan]

100. I can't speak for Obama, but I have my opinion

[ClarkUSA]

3. Nice try at spin. The news is not that Warren was asked to "run" the agency.

Warren is a Special Advisor to the President is tasked to help set up the agency because there's nothing to run until there is one.

Her appointment as Special Advisor "would allow the president to bypass a Senate confirmation process that could prove lengthy and contentious.'
http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=4541800&mesg_id=4541800

[vaberella]

8. Don't hurt the righteous with facts. n/t

[mkultra]

92. notice the lack of reply from the OP who spins.

[babylonsister]

4. According to this, she was selected to oversee the creation

of the consumer bureau. That sounds pretty powerful to me, but keep griping. You are getting really good at it! :fistbump:



Reports: Warren picked to oversee creation of consumer bureau
By Silla Brush - 09/15/10 06:47 PM ET


President Obama will name Elizabeth Warren to a position overseeing the creation of a new federal consumer financial protection office, according to multiple reports.

The move will allow Warren, who originally pushed for the office as part of new financial regulations, to bypass full Senate confirmation. Warren would report to Obama and the Treasury Department, according to ABC News, which first reported the decision.

Warren would have faced a tough confirmation battle amid opposition from many Republicans.

Most Democrats and consumer advocacy groups have been urging the president to nominate Warren as the full-time head of the bureau.

more...


http://thehill.com/blogs/on-the-money/banking-financial-institutions/119071-obama-to-name-elizabeth-warren-as-special-consumer-protection-adviser

[Name removed]

5. Deleted message

Message removed by moderator. Click here to review the message board rules.

[MannyGoldstein]

7. Please point to a credible contradictory account

Thanks.

[ClarkUSA]

12. She is "tasked with heading the effort to get the new federal agency standing".

"ABC News Exclusive: President Obama to This Week Name Elizabeth Warren to Special Advisory Role to White House/Treasury Dept to Form New Consumer Agency"

President Obama will announce this week that Elizabeth Warren, the Harvard Law School professor who first proposed the Consumer Financial Protection Bureau, will be named to a special position reporting to both him and to the Treasury Department and tasked with heading the effort to get the new federal agency standing, a knowledgeable Democrat told ABC News.

-snip-

The president went on to call Warren “a dear friend of mine. She’s somebody I’ve known since I was in law school. And I have been in conversations with her. She is a tremendous advocate for this idea. It’s only been a couple of months, and this is a big task standing up this entire agency, so I'll have an announcement soon about how we’re going to move forward.”

-snip-
Naming Warren as an assistant or counselor to both the president and Treasury Secretary Tim Geithner would allow the president to bypass a Senate confirmation process that could prove lengthy and contentious.

“I’m concerned about all Senate confirmations these days” including if he were to “nominate somebody for dog catcher,” the president said Friday when asked if he was concerned about Warren’s ability to be confirmed. “I’ve got people who have been waiting for six months to get confirmed who nobody has an official objection to and who were voted out of committee unanimously, and I can’t get a vote on them.”

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=4541800&mesg_id=4541800

[MannyGoldstein]

17. 'to get it standing'

Not to run it.

[ClarkUSA]

20. Cart before the horse? Pres. Obama can't appoint someone to "run" an agency that isn't set up yet.

Naming Warren as an assistant or counselor to both the president and Treasury Secretary Tim Geithner would allow the president to bypass a Senate confirmation process that could prove lengthy and contentious.

“I’m concerned about all Senate confirmations these days” including if he were to “nominate somebody for dog catcher,” the president said Friday when asked if he was concerned about Warren’s ability to be confirmed. “I’ve got people who have been waiting for six months to get confirmed who nobody has an official objection to and who were voted out of committee unanimously, and I can’t get a vote on them.”

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=4541800&mesg_id=4541800

[vaberella]

10. This is almost as pathetic as your FDR statement.

Democratic values indeed.

[FrenchieCat]

11. Me thinks, some would prefer we had no good news about this administration....

Because they mighthave to be more positive about this administration
during the election season, and certainly, we couldn't have that! :rofl:


White House To Tap Warren To Set Up Consumer Financial Protection Bureau

The White House has tapped Elizabeth Warren as a special adviser to help set up the Consumer Financial Protection Bureau, ABC News is reporting.

The move allows her to act as an interim head of the CFPB and will enable her to begin setting up the agency immediately and prevent the GOP from filibustering her nomination. Warren could serve until Obama nominates a permanent director -- a nomination he's not required to make for some time.

Obama could also nominate her as the permanent director in the near future, a prospect that has been discussed among top aides, according to a person familiar with the White House deliberations.

Warren will also be named as a special adviser directly to Obama, ABC reported.

http://www.huffingtonpost.com/2010/09/13/white-house-to-tap-warren_n_715291.html?ir=Politics

[boppers]

70. You could give some people a solid gold brick...

...and they would complain about how much it weighs.

[MannyGoldstein]

13. Wow! I got a who's who posting on this thread!

I'm honored.

[FrenchieCat]

16. Probably because the meme you are attempting to start

is aimed at those who are never satisfied, continuing to stay that way.

We already know that it is tough for some that Democrats are gaining their Mojo back....
Must suck, hey?

[MannyGoldstein]

19. That's certainly one possibility nt

[Cant trust em]

25. it's the same way whenever something good happens.

There are always the same people to tell us how awful it really is.

DU is nothing if not predictable.

[geek tragedy]

28. Yesterday you were complaining because you

thought he'd do a recess appointment--"because he wants an expiration date on her."

Then, when he avoids that trap, you still complain. Even after promising to post a positive thread if he did exactly what he just did.

[dionysus]

48. yes manny, a who's who of actual democrats.

[Skittles]

72. LOLOL

too fucking funny :rofl:

you wouldn't know a real Democrat if, well, EVER, it seems

[dionysus]

73. OH really is THAT SO?!?

:eyes:

[Binka]

98. Yes.

[saltpoint]

69. Manny, speak of the devil, but Roger Daltrey actually

dropped by our place for a beer and chips and is standing by the computer as I type this...

He says he thinks Elizabeth Warren is A-Ok.

File his remark under The Who's Who's Who.

[mkultra]

93. The other right wing posters have already tried this smear

so you are not first. Your talking points seem to be coming in late.

[Skittles]

15. will have to see how it plays out

on the surface it looks like much of what Obama has done - a step in the right direction but not the best he could have done

[Junkdrawer]

18. We're on the same wavelength....

Eyes on the Ball...Here's My Elizabeth Warren Questions:

Does she get a budget?

Does she get to hire staff?

Does she get to force the banks to obey consumer protection policies?

--- or ----

Will she write a extensive list of recommendations that Geithner as head of Treasury may or may not implement?

Titles are meaningless. So far, I don't think we have the answers to these questions. That's what I'll want to have clarified in the coming days and weeks.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x9142314

[ClarkUSA]

21. Better switch the channel.

Naming Warren as an assistant or counselor to both the president and Treasury Secretary Tim Geithner would allow the president to bypass a Senate confirmation process that could prove lengthy and contentious.

“I’m concerned about all Senate confirmations these days” including if he were to “nominate somebody for dog catcher,” the president said Friday when asked if he was concerned about Warren’s ability to be confirmed. “I’ve got people who have been waiting for six months to get confirmed who nobody has an official objection to and who were voted out of committee unanimously, and I can’t get a vote on them.”

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=4541800&mesg_id=4541800

[Junkdrawer]

24. That's great. What will she DO?

What will she have the budget and authority to do?

[ClarkUSA]

32. Why don't you write a letter to Special Advisor Warren and ask her?

It seems pretty clear to me that Elizabeth Warren felt she would have all the resources she needs to head up the setting up of the agency otherwise she wouldn't have accepted the position.

[Junkdrawer]

35. Oh, I think lots of people will be asking the same questions....

And we'll have the answers in a week or two. Maybe less.

[ClarkUSA]

39. I am sure Elizabeth Warren is smart enough to make sure she had everything she needed for the job.

:)

[Junkdrawer]

42. Or it could be that 1/2 or 1/4 of a glass is better than nothing...

She has to know that she's opposed by powerful forces.

[ClarkUSA]

45. Your negative speculation is baseless. It's obvious Elizabeth Warren knows her own mind. nt

[Junkdrawer]

46. She's been fighting long and hard for this. It could be....

that she was offered just enough to not say "No", but not enough to actually do the job.

Or maybe she hits the gound running. I don't know. We'll see.

[vaberella]

66. Discussing this with you is a circular conversation.

I sincerely doubt that Warren would be such a puppet---and you seeming to be a very bag of hers, would actually believe that she'd be enough of a puppet that she wouldn't "say "No", but not enough to actually do the job." Warren seems to know her stuff and sticks by her guns. I would think if she'd make the best choice there was based on what she knows---especially when the offer is coming from a long time friend and colleague. People act like Warren was some entity apart from Obama. She's been on of his biggest allies and one of his closest friends. They've known each other for decades....and if we're looking at the political arena, it was though (for all intents and purposes) Obama that she came to limelight. I'm sure she would talk straight to Obama and vice versa about the job.

[vaberella]

30. Well we don't know that because nothing's set up.

I don't know how you're on the same wavelength with a poster who talks as though the organization is up and running. Your questions are extremely valid. His/hers are almost not worth discussing. Your post recognizes, she's in charge of developing something, the degree of power this entity holds is up for debate. But she can't be the head of anything that isn't even off paper.

[dionysus]

22. try harder manny, try harder.

:nopity:

[FrenchieCat]

23. LOL!

[geek tragedy]

26. Manny, you didn't honor our bet

First you bet it would be a recess appointment (because he wanted an expiration date):

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=433&topic_id=441009&mesg_id=441013

And then you agreed to post a thread praising Obama if he posted her to an interim position.

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=433&topic_id=441009&mesg_id=441246

And here you are complaining instead.

Fool me twice, fool me twice.

[dionysus]

29. now, he just can't help himself...

:rofl:

[geek tragedy]

31. Very clear what the game plan is, I'm afraid. nt

[MannyGoldstein]

51. I thought that she had to head the thing

in order for you to win the bet.

She's not heading the thing - but let me look back on what we agreed to.

[MannyGoldstein]

54. By an 'interim appointment', did you mean

that the appointment might not be as the head of the Bureau?

[geek tragedy]

55. The only interim authority under Dodd-Frank is

per Section 1066 of that Act, which vests the authority in Geithner. So, the act of setting it up was always going to happen out of Treasury. That's where she needs to be to help administer it. If she's in Treasury, Timmy can delegate all of his authority to her.

There is no 'interim director' position.

She also has a direct line to Obama, in case Timmy starts acting like a dick. She won't get rolled.

[MannyGoldstein]

83. OK, so here's the deal

I thought that the interim appointment meant her actually being in charge, rather than perhaps being in charge when Obama and Geithner let her (which, based on their track records, will likely be never). I suppose that if we had bet $5 or something that I would pay up, but since it's not at all clear that Warren has any sort of power, then it's difficult for me to praise her as a pick.

How about I put a tickler in my calendar for three months from now. If Warren's been able to do anything in that time that has an important positive impact on working Americans, I'll praise it to the sky. But if she's a figurehead, no dice.

Sorry to be so suspicious but, after all, Obama's trying to raid Social Security and Geithner spent many billions of our tax money repaying investment banks 100% when AIG crumbled. These are not people working for working Americans.

[Name removed]

88. Deleted message

Message removed by moderator. Click here to review the message board rules.

[mkultra]

94. +1 for the truth

[HughMoran]

99. +1 for Deleted Message

It was worth it.

[mkultra]

101. Slowly the truth becomes against the rules while D bashing becomes the norm

[DevonRex]

89. I guess setting up the whole fucking thing isn't heading the bureau by your standards.

Be a man and admit you lost.

[Beetwasher]

76. ROFL!!!! Moved Those Goalposts Right Into A Corner!!!! BUSTED!!!

Warren is expected to take on a dual role as assistant to the president and special adviser to Treasury Secretary Timothy F. Geithner, giving her primary responsibility for shaping the consumer watchdog in the coming months.

The financial overhaul bill signed into law in July gives the new bureau and its leader broad autonomy to write and enforce rules governing credit cards, mortgages and other such loans.

--snip--

http://www.washingtonpost.com/wp-dyn/content/article/2010/09/15/AR2010091505999.html

:rofl:

[JNelson6563]

78. PWN3D

Again :rofl:

[dave29]

27. This is clearly because Obama is a secret Muslim

It is so sad this is not clear to everyone

[vaberella]

33. Obviously. n/t

[PopSixSquish]

43. She's Apparently Accepted the Position Which is Why the Story is Breaking

So are you actually suggesting that the person everyone and their cocker spaniel agrees is the best person to run the agency and the smartest person in the room is actually stupid enough to accept a position where she didn't have any power or wouldn't be able to make decisions? And wouldn't hesitate to call both the President and Geither on something if she needed?

You can't have it both ways.

Either Elizabeth Warren and President Obama know exactly what they're doing or they don't...

[alcibiades_mystery]

65. Manny is smarter than Elizabeth Warren herself

:rofl:

[backscatter712]

47. Didn't take long for the Marvins to come out.

Wouldn't want the Democrats to unite or have optimism, would they?

[scheming daemons]

52. If Warren agreed with you, she wouldn't accept the offer... hence, I call bullshit

She's not the type to accept a ceremonial position.

[saltpoint]

56. Manny, it does seem that your anti-Obama vitriol

consumes your good judgment on matters political.

Warren is an extraordinarily qualified soul for the job for which she was just appointed by the Obama administration.

Really and truly, that should have been your starting point.

[Name removed]

59. Deleted message

Message removed by moderator. Click here to review the message board rules.

[POAS]

58. Obviously she is a terrible choice. A real progressive

with credibility would never have agreed to take a sham position. She is just helping Obama save face with progressives. It will not work.

[boppers]

71. What would a true scotsman do?

:eyes:

[denimgirly]

60. I just hope this isnt just for SHOW for this Election and the real Director is Geitner approved

I can understand Obama making her a special advisor for now to get over the problems of appointing her with repubs and corporate dems (which means all of the WH too) not wanting her but i am just hoping obama isnt using her as a selling tool for voters since he desparately needs a progressive move to motivate his voters which are mostly progressive and he has not done much for progressives in his current term. My fear is after the elections she is never appointed the director and Obama goes for a right-leaning, corporate favoring person which Geitner approves.

[scheming daemons]

62. You think that Warren would quit her job at Harvard to be used that way?

Give her a little more credit than that.

[vaberella]

67. Exactly.

For so many Warren fans, there is a lot of implied talk that she's some naive buffoon by supporters. It's absolutely ridiculous. Either she's smart and intelligent, or she's being used by a two-faced Obama----make a decision.

[DevonRex]

90. You're so transparent you're barely even visible.

[AtomicKitten]

61. k&U

I would suggest you watch Chris Hayes on Rachel tonight. He explains all this and how it affects the real world, not the imaginary those Democrats are out to get me world.

[scheming daemons]

63. Manny.... man up, admit you were wrong, step toward the light...

...

[dionysus]

74. never happen.

[WI_DEM]

75. Well why doesn't she turn it down then if it's such a nothing job?

[Beetwasher]

77. BUSTED!!!"The appointment would place Warren...in charge of the new regulator"

"The appointment would place Warren - adored by liberals and consumer advocates, viewed with suspicion by many bankers and congressional Republicans - in charge of the new regulator that she proposed three years ago to protect Americans against lending abuses.

Warren is expected to take on a dual role as assistant to the president and special adviser to Treasury Secretary Timothy F. Geithner, giving her primary responsibility for shaping the consumer watchdog in the coming months.

The financial overhaul bill signed into law in July gives the new bureau and its leader broad autonomy to write and enforce rules governing credit cards, mortgages and other such loans."

http://www.washingtonpost.com/wp-dyn/content/article/2010/09/15/AR2010091505999.html

BUSTED!!!!!!

You've moved those goal posts so far, you've backed yourself into a corner. :rofl:

[dionysus]

81. pwnage!

:rofl:

[BeyondGeography]

80. Your thread isn't aging well

:hi:

[HiFructosePronSyrup]

82. How ironically 1984ish.

[Rosa Luxemburg]

84. are u supporting her?

[Kalun D]

85. K and R

K and R

thanks, if you just read the headlines it sounds like Warren would be regulating tomorrow

but as usual it's the Obama White House SLOW WALK

just like health care "reform", the White House is not really going to regulate the bankers that own them

of course if it was a bail-out for the fat cats it would happen within days.

[HiFructosePronSyrup]

96. LOL "If you just read the headlines..."

Didn't read the thread before posting, did you?

[ClarkUSA]

86. "The president and I are committed to the same vision on CFPB... "

... and I am confident that I will have the tools I need to get the job done." ~ Elizabeth Warren, 17 September 2010

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=433x445561

I believe this OP just got shot out of the water by Elizabeth Warren herself.

:rofl:

[DevonRex]

91. Do you now wish you had counted to 10 and used your brain before you hit post?

You've been pwned so hard in this thread you probably can't get up.

[mkultra]

95. Looks like your wearing out another ID Manny

I hope you have more ready to go.

[SunsetDreams]

97. Oh dear