Warren to be named Obama adviser on consumer agency
President Obama will announce Friday that he’s appointing Harvard law professor Elizabeth Warren to play a key role in crafting the consumer financial protection bureau that was her idea in the first place.
Warrren, 61, said she “enthusiastically agreed” to serve as a special adviser in the Obama administration, in a blog post appearing on the White House Website.
“He has also asked me to take on the job to get the new CFPB (Consumer Financial Protection Bureau) started right now,” said Warren. “The President and I are committed to the same vision on CFPB, and I am confident that I will have the tools I need to get the job done.”
Arriving at the White House for the Friday announcement, Warren told CNN’s Ed Henry that she’s “very confident” she will have real power to get the new consumer protection agency set up with some teeth, based on reassuring conversations she has had with the president.
She told Henry that, unequivocally, she’s fired up and ready to “get some things done” immediately.
The job gives the outspoken Warren - who also heads the Congressional Oversight Panel overseeing the $700 billion bank bailout - a unique insider’s megaphone within Treasury and the White House, while sidestepping a Senate confirmation battle. Her title will be Assistant to the President and Special Advisor to the Treasury Secretary.
Good news, good news, good news! I