Obama Admin Praises Elizabeth Warren But States 'There Are Other Candidates As Well' To Lead CFPB

This battle was lost when the agency itself (the Consumer Financial Protection Bureau) was put under the auspices of the Treasury Department.



Whenever regulators are not independent, whenever they're not out from under politicians and political will, regulation will not occur.



We learned that lesson with Brooksley Born -

http://www.pbs.org/wgbh/pages/frontline/warning/



We learned, too, that Obama isn't above political cronyism.



When Obama argued against a public option, saying that exchanges would be just as good for creating competition to keep costs low because there would be a regulator overseeing the costs that insurance companies charge (and we could rest easily because that regulator would be hand-picked by the president), we on the left argued that that wasn't any guarantee for affordable healthcare, for consumer protection, nor was it independent regulation.



Just last week, who did Obama appoint to implement this? The woman responsible for preventing a public option in the healthcare bill, former WellPoint executive Liz Fowler - http://www.huf fingtonpost.com/david-sirota/obama-hires-fmr-wellpoint_b_646874.html
About Financial Crisis
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