Will Obama Have No Choice But to Nominate Warren?

April 13, 2011

With numerous candidates declining the opportunity to lead the Consumer Financial Protection Bureau, the Wall Street Journal speculates the White House may end up nominating Special Treasury Department Adviser Elizabeth Warren for director after all.

Warren has been working to set up the bureau, which the Journal says must have a formal director by July 21 in order for its regulatory authority to take effect. Among those who have turned down the CFPB position: Democratic former Michigan Gov. Jennifer Granholm, Democratic former Delaware Sen. Ted Kaufman and attorneys general from Iowa, Illinois and Massachusetts, these people said.

“One concern of some: That accepting would undercut Elizabeth Warren… She remains a hugely popular figure among many Democrats and anathema to many Republicans,” writes Deborah Solomon of the Wall Street Journal.

Democratic former Ohio Gov. Ted Strickland and Federal Reserve Board member Sarah Bloom Raskin have also reportedly been under consideration.

A White House spokeswoman said the President “will consider a number of candidates for the position of director. The President believes Elizabeth Warren is a powerful voice for American consumers and that she has been extraordinarily effective at standing up the agency thus far. We are not going to get ahead of the President’s process by commenting on whether specific individuals are under consideration for specific personnel openings.”

Many Democrats would like to see Warren nominated to officially lead the CFPB, according to the Wall Street Journal.

Yet last month, Rep. Barney Frank (D-MA) said he did not think the President would put up Warren for her consideration out of fear the bid would fail. (Read more)


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