Warren's appointment wouldn't just be a setback, it would devastate Geithner's entire plan on how to deal with trillions of bad assets the banks still won't recognize as losers. That is why she is going to face enormous resistance, even inside of the Obama administration.
The next one to oppose Warren, after Geithner, will be Larry Summers, for this very same reason. Then they will see if they can get Bernanke and finally Obama on board. The pitch to Obama and Bernanke will not be personal, it will be the same phony argument that Paulson and Bernanke used to justify TARP to Congress: they will say that if Warren is appointed, the entire world of banking and finance as we know it will come to an end.
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