Frustrated that the financial reform bill recently passed by Congress isn’t as strong as it needs to be? Me too! But this demands that we continue to take action, not throw up our hands and back down. We need to keep up the pressure to make sure that the folks policing the financial sector make the most out of the power vested in them, rather than use it to continue to coddle the big banks.
The Obama Administration is considering appointing Elizabeth Warren to head the recently-established Consumer Financial Protection Bureau. In addition to being the person who came up the idea of establishing the Bureau in the first place, she has a reputation for standing up to Wall Street in order to protect the rest of us.
This is why Timothy Geithner and other Wall Street insiders are attempting to block her appointment.
According to John R. Talbott:
The bill has been written to put a great deal of power as to how strongly it is implemented in the hands of its regulators, some of which remain to be chosen. The bank lobby will work incredibly hard to see that Warren, the person most responsible for initiating and fighting for the idea of a consumer financial protection group, is denied the opportunity to head it.
Please join Credo Action Network by signing their petition urging President Obama to appoint Warren to lead the Consumer Financial Protection Bureau.
The petition reads:
Elizabeth Warren has proven that she is willing to stand up to Wall Street on behalf of consumers and is the logical choice to lead the Consumer Financial Protection Bureau. Tim Geithner is a longtime Wall Street insider, and if he’s recommending against Elizabeth Warren that’s all the more reason to appoint her.
