reprinted from TheHill
Elizabeth Warren is by far the best, strongest and most qualified candidate to lead the new consumer protection agency created by the financial bill. My hope is that President Obama selects her, but if he does not, the reason would be that she was Blagojevich'd by bank lobbyists who would have veto power over their regulators.
There are widespread reports that certain White House aides favor Warren, while others may not. There are widespread reports that Treasury Secretary Tim Geithner opposes her. Geithner's aides deny this, but I strongly believe he does oppose her. It should not matter if the president wants the best person for the job; the choice is clear: Elizabeth Warren.
This is an extraordinary opportunity for President Obama to give legitimacy and credibility to the financial bill, to electrify the Democratic base and motivate the base to vote, to win support from small-business people who would value the powerful advocate in Washington that Warren would be and to win support from independent voters who support consumer protection.
If Elizabeth Warren is not chosen, it would be because she was Blago'd. It would be another example of how bankers who donate money have more clout in this town than consumers who are victimized by bad practices.
It would be another example of the pay-for-play by which a regulated industry with insider clout has the power to choose its own regulator.
It would a symbol of why so many Americans are so disillusioned, and why so many grassroots Democrats are sadly disinclined to vote.
Come on, Mr. President. Choose Warren. Don't let Warren be Blago'd. Make your Democratic, independent and working-class supporters proud and motivated and excited again.
Brent Budowsky is a regular columnist on thehill.com. He served as Legislative Assistant to U.S. Senator Lloyd Bentsen, responsible for commerce and intelligence matters, including one of the core drafters of the CIA Identities Law. Served (more...)