Simon Johnson: White House Failure To Appoint Elizabeth Warren Would Be The Last Straw

The economic collapse that has us in a Depression was predictable. It was predicted. It's entirely man-made, it will happen again, because the same culprits responsible for it are still at it, making sure they can do it again.



Those of us on the left who were against this finance reform bill laid out the problems, the steps, where we would see it happening again, and this is one of the first warnings we talked about. This was why we said that the Consumer Financial Protection Agency (and all regulators) had to be separate and independent and not under the auspices of the Treasury Department (or any other department) in any way.



It's like what we warned about during the healthcare debate, when Obama was arguing 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 that regulator would be hand-picked by the president.



We on the left argued that that wasn't any guarantee for consumer protection, nor is it independent regulation; it's political cronyism at its worst.



And 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 Timothy Geithner
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