In the run up to the 2012 elections, Barack Obama will define himself as the champion of the middle class -- as compared to the Republican candidate. But the real populist, the one who gives voice to the 99 percent, will be Elizabeth Warren.
The Consumer Financial Protection Bureau was created to protect consumers. But Republicans are planning to filibuster the confirmation of Richard Cordray as the director of the CFPB, effectively neutralizing the bureau's power to protect consumers.
The American people have gone too long without someone in the federal government looking out for them instead of the big banks. And House Republicans do not actually have the power to block a recess appointment indefinitely.
Republicans in Congress have looked for any excuse to avoid admitting that they are seeking to weaken new consumer protections -- here are the facts behind their attacks on this important new watchdog for consumers.
Last week's hearing on the nomination of Richard Cordray to lead the Consumer Financial Protection Bureau featured prepared speeches that were utterly without sound and fury but still managed to do a huge disservice to American consumers.
Elizabeth Warren announced that she was running against Scott Brown for a U.S. Senate seat on the eve of the anniversary of the Lehman Brothers collapse. For many, Lehman's bankruptcy marks the day the wheels came off the bus and the U.S. economy went over a cliff.
It's time for Republicans in the Senate to put the interests of hard working middle class families over the special interests of large financial institutions. We've got to speak out and make sure our fellow Americans know the truth.
I tend to be a "glass half full" optimist, so I'm pretty happy about the launch of the Consumer Financial Protection Bureau. The "half empty" part that tempers my celebration is the fact that the president delayed his nomination and passed over Elizabeth Warren.
Whatever she chooses to do, Elizabeth Warren will be an asset to the financial reform movement. If she passes on the politician's life she'd be ideally suited to galvanizing it. If she runs and wins she'd be a great voice for reform in the Senate.
This week is the culmination of two years of hard battles. The President put the Consumer Financial Protection Bureau in his first outline of financial regulatory reform, and he never wavered in his support for it. As a result, the agency has stepped out in the right direction.
Senate Republicans have preemptively filibustered the appointment of a founding director for the Consumer Financial Protection Bureau. Without a director, the CFPB will not have authority to regulate both bank and nonbank financial operations.