Check out this editorial in The Washington Post, in which Ezra Klein tells us how to make sure consumer protection starts off on the right foot: by making Elizabeth Warren head of the new Consumer Financial Protection Bureau. Here is an excerpt from his piece:
My worry isn’t that the Obama administration will pass over Elizabeth Warren at the Consumer Financial Protection Bureau and appoint “some banker” instead. My worry is that they’ll pass over Warren and choose some gray bureaucrat or friendly ex-congressman instead. A crusty banker who hates a lot of his former colleagues and has the cutthroat, ruthless personality of lots of bankers might be able to attract other ex-Wall Street types and create an interesting agency. Some former bureaucrat can’t.