AP source: Wall St critic tapped for consumer post (Obama's best appointee PERIOD)

WASHINGTON – President Barack Obama will appoint Wall Street critic Elizabeth Warren as a special adviser to oversee the creation of a new consumer protection bureau, a Democratic official said Wednesday. Warren would report to both the Treasury Department and the White House in a role that would not require Senate confirmation. The 61-year-old Harvard University professor and consumer advocate had been considered the leading candidate to head the bureau itself, but her lack of support in the financial community could have set the stage for contentious Senate hearings that might ultimately have derailed her confirmation. The official spoke on condition of anonymity ahead of a formal announcement. White House officials would not confirm the appointment, but Obama spokesman Robert Gibbs said an announcement could be made this week. While Obama has long been a friend and supporter of Warren, he was keenly aware of the potential pitfalls of nominating a polarizing figure in the midst of a heated election year. "I am concerned about all Senate nominations these days," Obama said during a news conference last week. "I've got people who have been waiting for six months to get confirmed who nobody has an official objection to and who were voted out of committee unanimously, and I can't get a vote on them."

news.yahoo.com...

Obama..you did something good!!!

This woman fights for the middle class and is a huge critic of the Federal Reserve and Wall street. Finally someone in there that fights for us and against transnational corporations!!!!

I don't applaud Obama for much of anything....but I absolutely love this.

Elizabeth Warren is one hell of a thorn in the side of corrupt Wall Street and lil Timmy Geithner. She is one hell of a good Populist Progressive, she is also one of the most intelligent people I've ever heard before.

Barack Obama, good job!

He should have done this apppintment in the first "100 days" not at 500 days with a small amount of time left before November election to benefit us Dems.

Originally posted by Granite
He should have done this apppintment in the first "100 days" not at 500 days with a small amount of time left before November election to benefit us Dems.

Before this Consumer Protection Agency was created Obama should have made her his appointment to Treasury Secretary. That would have shaken up Wall Street and Washington.

reply to post by Misoir

Right during the transition period, the was a news report of Geitner in trouble for nomination with a quote from Sen Kerry saying "he'll have to go". The real boss intervened...and almost two years of no results?

I have a reservedly positive opinion on this. On one hand, if she is the person she seems to be, then it is a great pick. On the other hand, she did chair the oversight committee for TARP which, in hindsight, seems to be a program which didn't have much oversight applied to it. (at least not from the angle of Fannie/Freddie)