July 5, 2011
Former White House candidate Ralph Nader is once again weighing in on how President Obama has steered the appointment process for the head of the Consumer Financial Protection Bureau. Nader asserted that Obama will risk losing the support of key allies if Elizabeth Warren, who is currently leading efforts to set up the agency, is not named its permanent director. The following is an excerpt from the open letter published online:
“Not giving Elizabeth Warren a recess appointment – and using your presidential authority to assure a recess – to head the Consumer Financial Protection Bureau that she is now building at her post in the Treasury Department will produce many stay-at-home voters… These are the Americans for whom over three years of dashed hopes in many fields view abandoning the authentically admired Professor Warren as the last straw. Given the crimes and derelictions that looted or drained trillions of savers’ and workers’ money in 2008-2009 and that collapsed the economy with its resultant unemployment and bailouts, they want law and order for Wall Street.”
Nader in the letter also criticized Obama for neglecting political promises in order to secure campaign donations.
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