Dr. Phil has announced his support for Elizabeth Warren as the first director of the Consumer Financial Protection Agency. Dr. Phil has worked with Elizabeth Warren in the past, and believes that she is the right person to serve as the sheriff of Wall Street while protecting Main Street. He says:
Bottom line: I am a huge advocate of this new Consumer Financial Protection Bureau. As Elizabeth reminded me just the other day, the bureau is not simply going be a watchdog on Wall Street’s titans; it will also be a watchdog on regular consumers, to help people avoid the kinds of mistakes that can result in financial ruin. Each of us is responsible for our own financial choices, and I am a firm believer that when someone chooses the conduct, they have chosen the consequences of that conduct. But we also deserve as much information as we can get to make good choices. And that is what I believe Elizabeth Warren is all about. She recently said to me, “This new agency is all about leveling the playing field a bit, giving people better tools and then holding them responsible — very much the sort of thing you’ve been doing across a broad range of issues for years.”