Elizabeth Warren gets started on new consumer protection agency

[UpInArms]

Source: USA Today

Elizabeth Warren, special adviser to the president, is trying to help shake things up as she puts together the nation's first federal consumer protection agency.

The new Consumer Financial Protection Bureau (CFPB) will not officially start until July 21. And its final shape is uncertain as Warren faces many challenges and a host of criticism.

But the Harvard University bankruptcy professor, who first proposed the idea of a consumer financial regulator in 2007, isn't daunted by the task and says she is off to a good start as she scrambles to hire staffers, initiate policies and meet with consumer advocates, bankers and many others.

<snip>

Warren has long been a voice for the consumer. But she had little power when, as a professor, she opposed what she saw as costly bank fees and predatory lending in testimony before Congress and her writings on the subjects. She now spends her time and energy starting an agency that she says has been born of optimism.

Read more: http://www.usatoday.com/money/perfi/basics/2010-12-29-cfpb29_ST_N.htm

[Oceansaway]

1. wooooohoooooo !!...nt

[freshwest]

7. :)

[russspeakeasy]

2. By the time July rolls around, her budget will be cut to the point

that there is very little staff and malise will set in. I
think she has great potential, but she has such weak support
from the whitehouse.

[Bolo Boffin]

5. You said "whitehouse" when I think you meant "congress."

Republicans in Congress, to be even more specific.

[midnight]

3. May the force be with you Elizabeth that you are given the tools you need.....

On banker bonuses:

This one, I have to say, truly amazes me, that these folks who are supposed to be the smartest folks in the room, believe that they can take taxpayer money and save their businesses from complete destruction, and still continue to reward themselves as if—they had earned it all. It’s as if they don’t understand the world changed when you had to take money from the taxpayers to stay alive. Well, evidently not. And—I think what that means is that we really have to change this one now, again, by statute. I’m sorry, I—I was really a believer. “The market will heal itself, everything will correct here,” at least on executive pay. Because no one would be so foolish as to think, “I’ll take taxpayer money and then, while people are unemployed, I will lard my—myself with—with pay.” We’ve gotta change the executive compensation structure. And it’s straight across the board.http://andymatic.com/elizabeth-warren-featured-in-new-york-times/

[tpsbmam]

4. Brave woman fighting against the culture of greed. May the power of millions

of us be with her! She is one of the few bright spots in Washington. I hope she can outlast the inundation of critics & greedsters who want her the hell out of there!

:loveya: Elizabeth Warren!

[burrowowl]

6. Go EW! Go! K&R

[Lugnut]

8. You go, Elizabeth!

I hope my optimism about this effort doesn't end up as frustration.

[earcandle]

9. I would love to be on her staff as an Accountant-Auditor or work for her from out here.

[onehandle]

10. I love her. nt

[BadGimp]

11. I wish her, for our sake, the best of luck... However..

The forces aligned against her and us will defeat her every step of the way.

Why: because a legislative struggle that does not employ a heavy hitting messaging campaign will be beat back by the thunderous messaging of the right.

Or something like that..