Ed Morrissey
HotAir.com
7/16/2011
Elizabeth Warren will exit the Consumer Financial Protection Bureau before it officially launches, according to a single-sourced Bloomberg report last night. According to an unnamed “briefed” person, Obama will dump the controversial Warren for someone already working at the CFPB, and the announcement will come next week:
Elizabeth Warren, a Harvard professor, was appointed last fall by Obama to set up the consumer bureau until a director was named. Warren previously was head of the congressional watchdog panel overseeing the bank bailout.
This was one of those “temporary” assignments that an administration would eventually make permanent. Warren, however, became a lightning rod not just for her approach to the CFPB but also for her interaction with Congress. Called to testify in May, Warren insisted that the panel limit its questioning because of a prior engagement on her schedule. The prior engagements appear to have been a couple of internal meetings — and an interview with Vanity Fair.
With Congressional relations off to that kind of start, it’s no wonder that Republicans in the Senate have already made clear that they wouldn’t allow Warren to be confirmed…
…Democrats tried distracting the committee by loudly demanding that Darrell Issa subpoena executives from large banks, but Issa instead focused on Warren and the ambiguous limitations on the CFPB’s power…
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