Elizabeth Warren Backed By Coalition Of Academics To Head New Consumer Agency
A coalition of professors across the country has emailed President Barack Obama in support of Elizabeth Warren as head of the nascent Bureau of Consumer Financial Protection.
The 141 professors, representing disciplines from law, economics, management, sociology, and political science, sent the email this morning praising Warren's "scholarly expertise" and effective management. The list includes Warren's former employers at Harvard University, University of Texas, University of Houston and University of Michigan, as well as her alma mater, Rutgers Law School.
As pressure mounts for the White House to choose the first leader of the consumer oversight panel, the academics join a growing chorus of Congressmen and reformers pushing Warren.
In addition, 26 prominent economists and experts sent a similar letter to Obama, urging him to name Warren.
As reported by HuffPost, Treasury Secretary Timothy Geithner has expressed his opposition to her nomination though he's praised her in public. This morning, he told "Good Morning America" that he thought she would be "a very effective, very capable leader" -- but stopped short of endorsing her.
Opposed to her nomination are some prominent Democrats, including the bill's author Chris Dodd, leading Senate Banking Committee Republicans Richard Shelby and Bob Corker and financial industry trade groups.
In their email, Warren's academic colleagues write: "Professor Warren's integrity and genuine concern for the plight of ordinary American families are sorely needed in Washington. We believe that Elizabeth Warren is the ideal choice to head the Bureau of Consumer Financial Protection."
READ the letter:
Dear Mr. President,
We are professors of many disciplines, including law, economics, management, sociology, and political science, who specialize in subjects relevant to the Bureau of Consumer Financial Protection (the "Bureau") established by the Dodd-Frank Act. We write to urge you to appoint Elizabeth Warren as the Bureau's first Director.Professor Warren is an eminent legal scholar and a nationally renowned expert on consumer finance. She has authored over one hundred and twenty scholarly articles and books. These include a best-selling personal finance book for middle class families and teaching materials that help educate thousands of law students every year.
This scholarly expertise, along with her work as Chair of the Congressional Oversight Panel for TARP, has given Professor Warren a broad, and perhaps unique, perspective on how effective consumer protection is essential for the safety and soundness of the financial system and the health of the American economy. She is an effective manager with clear vision and the ability to coordinate complex projects, as demonstrated by her groundbreaking scholarly studies, her work as reporter for the National Bankruptcy Review Commission, and her leadership of the Congressional Oversight Panel.
In both her scholarship and her public service, Professor Warren draws her conclusions from careful analysis of data. She listens carefully to alternate hypotheses and she is responsive to criticism. She speaks plainly and honestly. She owes no allegiance to the financial services industry or other special interest groups.
Professor Warren's integrity and genuine concern for the plight of ordinary American families are sorely needed in Washington. We believe that Elizabeth Warren is the ideal choice to head the Bureau of Consumer Financial Protection.
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Huffington Post Sara Yin
First Posted: 08/03/10 03:00 PM ET Updated: 05/25/11 06:15 PM ET