House Republicans Take Aim At Elizabeth Warren To Slow Down Financial Reform

[ProSense]

House Republicans Take Aim At Elizabeth Warren To Slow Down Financial Reform

Since they can’t realistically repeal the Dodd-Frank financial reform law due to President Obama’s veto pen, Republicans have been gearing up to slow down the law’s implementation by hassling regulators with hearing appearances, questionnaires, and resolutions of disapproval. To that end, Reps. Judy Biggert (R-IL) and Spencer Bachus (R-AL) sent a letter yesterday to the newly-constituted Consumer Financial Protection Bureau (which operates as part of the Treasury Department until July 2011), voicing concerns about the Bureau’s supposed lack of oversight.

The lawmakers took particular aim at Harvard Law Professor Elizabeth Warren, the special adviser to the President who is currently leading the Bureau, saying they planned to scrutinize everything she does:

“There is a clear absence of accountability and transparency” about the activities Treasury is undertaking to establish the consumer bureau, the letters said…The lawmakers signaled they planned to scrutinize Ms. Warren’s every move, writing that they “are concerned that Professor Warren will be approaching this task without any experience managing — or creating — an organization of this scale and importance.”

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As the Center for Public Integrity reported, Republicans have a handful of options available for slow-walking financial reform, among them “peppering agencies with letters and with oversight hearings.” And they’re keying in on Warren as the focal point of their efforts, despite her vast qualifications for the position and the lack of substantive complaints against her that the GOP has mustered.

Of course, transparency and accountability are valid concerns, and Treasury should be completely open about the process of setting up the Bureau. But since Republicans are staunchly opposed to the Bureau’s very existence, this looks more like an effort to bog its employees down in paperwork and appearances on Capitol Hill, rather than a good-faith effort at oversight.

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[jaxx]

1. Nothing the repubs do will be done in a good-faith effort.

They are out to obstruct and hassle the Obama administration, nothing else. And I hope the various targets are slow to respond. Really, really slow.

[nykym]

2. They should be very carefull

as this new bureau will be looking at nay legislation being proposed by Congress to make sure it is in the consumers best interest. I would love to see headlines and heads rolling when they try to walk back some of the new regulations.

[Bluenorthwest]

3. Good luck out talkinig and out thinking Ms Warren, Republicans

She's not your average patsy politial figure.

[Kingofalldems]

4. They're showing their hand early

They work for the monied elite.

[EC]

5. They should do just as the repubs did last decade...

don't answer the letters of inquiry or show up for hearings...just blow them off...