Obama To End Run Senate On Elizabeth Warren To CFPB?
So, let's see, Elizabeth Warren won't take over at the Consumer Financial Protection Bureau (CFPB) because of strong opposition to her nomination, … she'll just serve as a special assistant … so she can run the CFPB. That about right? We don't need no freakin' Constitution.
A senior White House official says the President will announce, in a Rose Garden ceremony early Friday afternoon, that Elizabeth Warren will be given the dual role of Assistant to the President and Special Advisor to the Secretary of the Treasury.
In that role Warren, over the next 12-18 months, will get the new Consumer Financial Protection Bureau up and running, a job that will include the consolidation of several consumer protection agencies now spread across the government. The CFPB was largely Warren's idea.
Sources say Warren recently made clear that she does not want the permanent job. Why not? Because Republicans – with fierce backing from the financial community – are dead-set against her getting the job. Her nomination would be expected to languish for months and during that time, White House officials say, she would have to cease operating in her interim position. So she has decided, officials say, to set up the CFPB — and then move on, leaving the job of running it to someone else.