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Elizabeth Warren Tossed a Bone of WATCHDOG AGENCY and Appointed Geithner’s Lapdog

Elizabeth Warren Tossed a Bone and Appointed Geithner’s Lapdog

Under guise of being handed an important role, Elizabeth Warren was shoved aside and tossed a bone by President Obama. One might not know it from the New York Times headline Warren to Unofficially Lead Consumer Agency

Elizabeth Warren, who conceived of the Consumer Financial Protection Bureau, will oversee its establishment as an assistant to President Obama, an official briefed on the decision said Wednesday evening.

The decision, which Mr. Obama is to announce this week, would allow Ms. Warren, a Harvard law professor, to effectively run the new agency without having to go through a potentially contentious confirmation battle in the Senate. The creation of the bureau is a centerpiece of the Wall Street financial overhaul that Mr. Obama signed in July. Calculated Risk offered a one line comment on his blog “I think Ms. Warren is an excellent choice.”

I certainly agree. Unfortunately, no matter how much Obama tries to spin it, this has nothing to do with a “potentially contentious confirmation” but rather everything to do with Geithner winning the battle to marginalize her.

Marginalization of Elizabeth Warren

Yves Smith at Naked Capitalism hits the nail on the head in her appraisal Elizabeth Warren on Way to Being Sidelined as Head of Consumer Protection Agency, Relegated to “Advisor” Role The body language of the Administration has been clear from the outset

http://globaleconomicanalysis.blogspot.com/2010/09/elizabeth-warren-tossed-bone-and.html

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