The Delaware News Journal recently published an editorial about Elizabeth Warren’s potential CFPA nomination. Click here to read the full letter.
Warren is a Harvard law professor. She heads the TARP Congressional Oversight panel. She hasn’t been afraid to criticize Mr. Obama’s economic policies, tangle with Treasury Secretary Timothy Geithner, or shoot back at Republicans who think she is anti-bank, anti-business and anti-market.
In fact, she came up with the idea of the Consumer Financial Protection Bureau in the first place. It would be like the Consumer Safety Commission, only she would push for simpler credit card and mortgage contracts.
The bureau will have a $500 million-a-year budget that Congress can’t touch. That’s why critics don’t want her: She could be too powerful.