There has been a lot of controversy surrounding whether Elizabeth Warren is a good choice to head The Bureau of Consumer Financial Protection. Here’s how I see it:
Pros: Her appointment will show Obama and his administration definitively prioritizing Main Street over Wall Street. Also, Ms. Warren is an academic, not a politician or Washington insider, which I think will give her a fresh perspective. The Bureau of Consumer Financial Protection was also Ms. Warren’s idea, which she originally proposed in 2007, before the vast majority of Americans new that anything was wrong.
Cons: It may be a struggle to get the Senate to confirm Ms. Warren as she is not perceived as a being politically neutral. Also, some do not believe she is qualified for the job based on lack of experience or inadequate academic credentials.
All in all, I think she is a great choice to help fix the system that desperately needs fixing. Lately, politics, for better or for worse, has been about the outsider, about the grassroots involvement and the choice of the people. When we thought the White House had failed us, we brought in a previously little-known Senator by the name of Barack Obama as previously apolitical people got involved with grassroots campaigning. Now that the banks have failed us, isn’t it time Obama appoints the people’s choice, namely, Ms. Warren?
ab imo pectore,