But that scenario turned out to be wrong, and underestimated Warren's own tenacity. It is now clear that the indefatigable Warren will be both a senior presidential adviser with direct access to Obama when she needs it, as well as a Treasury employee. In an administration dominated by Rubinistas, Warren will literally be the first financial progressive with both a personal connection to the president as well as an independent power base.
This strategy is a win-win, on several grounds. It gives Warren full authority to set up the agency, without having to run the gantlet of confirmation hearings and a likely Republican filibuster.
This way, Warren will be able to get the agency quickly up and running in a manner that serves both consumers and progressive politics. Early directives to bring greater simplicity and transparency to credit documents will be extremely popular. Politically, the carping by the banking industry and its Republican allies will remind the public which side the GOP is on.
This will take a lot of the wind out of the Republican claim that they opposed the bailout and share popular backlash against Wall Street. It will belatedly put the administration vividly on the side of regular Americans when it comes to banking issues.
And as Warren continues to be the remarkably popular champion of struggling families, it will become more difficult to deny her the job on a permanent basis if she wants it. And it will be more costly, even for a more Republican senate in the next Congress, to make her their nemesis.
Those like Sen. Chris Dodd who claimed Warren had little experience running things underestimated the lady. They certainly underestimated her as an astute political player. This appointment was delayed for several weeks because extensive discussions were necessary to produce terms that worked for both the White House and for Warren personally.
Credit for this victory is should be shared several ways. The progressive movement did not relent on this one. Denying Warren the job would have been a demoralizing slap at a Democratic activist base that was already in a state of near-despair.
It is hard to recall another case when a public pressure campaign for a particular nomination, with the tacit support of the would-be nominee, did not backfire. This success signals progressives to keep prodding Obama to be the leader we hoped we were electing.
Shahien Nasiripour in Huffington Post also gets credit for being the first one to suggest this interim tactic, back in July.
Credit also goes to President Obama himself. Despite nay-saying from the wing of his administration that is too cozy with Wall Street, the president is a good enough politician and has enough progressive instincts to recognize the Warren appointment as shrewd politics and smart on the merits.
But the most credit goes to Warren herself, for never pulling her punches either as head of the Congressional Oversight Panel or as a broader spokeswoman for financial reform. In an age of few progressive heroes, it took amazing combination of persistence, principle, political shrewdness and personal grace to make herself the indispensable woman.
Robert Kuttner is co-editor of The American Prospect and a senior fellow at Demos. His new book is "A Presidency in Peril."
We have just been raped by the banksters, the wealthiest neocon elite, and the corportists into the Greatest Redistribution Of Wealth in History! UPWARD! TO THE WEALTHIEST FEW!
They need to be prosecuted, have their stolen Trillions clawed back, and given cold seats next to their buddy bernie for the next 150 years.
Wake Up! This is the 2nd Great Depression.
I understand the apologists for the rapists and trolls on this thread because they are either paid minions, suckling on the wealthy teet, or dreaming they can join the ranks of the rapists.
America needs one honest, intelligent, well spoken person in D.C. Then we need many more of them in a new Progressive Party. We sadly learned that Obama is just another corportist and is manipulated by the neocon wealthy elite the moment he appointed little timmy, summers, put rubin in an advisory position, and supported bernanke's reappointment.
Elizabeth for President.
Fire geithner, summers!
Audit the Fed with no restrictions and continuously.
as greenspam said, "If I've made myself too clear, you must have misunderstood me."
"Alan Blinder... noticed was "how quiet my office was, how few people came to see me". The Fed was run, he realised, not by its appointed board, but by the chairman and the barons."
IMO the only aspect of this announcement that necessitates curbing our enthusiasm is believing that this somehow means Obama and his administration have turned a corner in terms of embracing progressive ideas. I say let's support, encourage and have EW's back in standing up to forces that may be rayed against her and keep Obama's feet to the fire. Don't allow Obama to think all is well between he and the progressive community because of this one act that may be as much a midtern elections political calculation as it is a true reflection of his policy agenda.
I don't think she will allow herself to be anyone's token. If they try to force her into tokenism I think she'll go public with that and rally public support to put the kabosh on that.
I think you seriously underestimate EW if you think she will allow herself to be used as a political pawn.
This sounds more like how Obama and the Rahmpublicans can sideline Warren and fool us again. They will probably give her a job with a really great sounding title... then ignore her for the next six years.
"SUPREME COURT" !!??!!??!!??!!??
Remember the POLITICALLY appointed Supreme court Justices who are SERVING ONLY the POLITICIANS who appointed them for life?
Remember that the POLITICIANS (elected or defeated) serve the Special Interests Lobbyists !
The "SUPREME COURT" legalized the unlimited BRIBING of corporation to the POLITICIANS !
Consumers! you are going to win....LOL.... just as the War on POVERTY was won...LOL...
Media didn't cover that, even here on the Huff. I think I'll google those decisions and see what's up.
Wait a minute, a couple of days ago I asked progressives here if Obama was the man they thought they were getting and you said yes. So he really isn't after all? You guys are so confus (ed) ing.
Even if it was JC himself, how far could he carry the cross the naive are already burdening Warren with?
Remember, it was this kind of gullibility that helped get us into the mess we're in. Remember the Audacity of Hope and a "black" guy on a white horse named Barack?
The only savior this time is US. The only question is, are we ready yet for self government?
Right?
http://buythecover.com
even you fell for it.
All you need is to start enforcing the existing laws.
Obama has had 2 years to get his act together.
Why can he just do the job instead of having some "bold new plan".
Enforce the laws as written...
No, sorry, we need both new tougher laws and far more enforcement. And penalties that take the color out of the skin of finance corporations when they get hit with them.
Free market my arse.
So Warren got it, good. I was afraid that they would blow another one.