Warren pushing Obama's regulatory reform

[ProSense]

Warren pushing Obama's regulatory reform

By Sam Youngman

The head of the congressional oversight committee for the troubled assets relief program (TARP) is pushing President Obama's proposed plans for regulating financial institutions, making an emphasized push for the president's planned creation of a Consumer Financial Protection Agency (CFPA).

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With banks and other financial institutions pushing back hard, Elizabeth Warren told the American Constitution Society (ACS) that the CFPA is "the keystone in the arch" of the president's planned reforms.

Warren hailed Obama's plans, the unveiling of which she watched at the White House this week, particularly the CFPA "because it is directly about families."

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Warren said the new agency is "the first really tough push back to say: 'No more.'"

"Banks are important, but they are not the economy," Warren said. "They are not the country."

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Edited snips for clarity.

[bluestateguy]

1. Good for Rev. Rick Warren

nt

[ProSense]

2. Are you serious? n/t

[Cha]

3. Not

funny.

Edit~ This is the good Warren and I thank her.

[DrToast]

4. She's awesome

Appointed to the oversight committee by Senate Majority Leader Harry Reid not long after Obama was elected, Warren also took a second to take a dig at Congress during the question and answer section of her speech.

When asked how she thinks Congress "feels" about using TARP money to bail out auto companies, Warren deadpanned: "I'm not sure Congress feels anything."

:yourock: