Since the Republican Party now worships at the altar of "Saint Ronald of Reagan," it's always fun to point out the hard, cold fact that Reagan would simply not be acceptable to the Republican Party as it stands today.
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.
The Consumer Financial Protection Agency should have been a legacy of enduring value. Today should have been a day of celebration. Instead, the new bureau is just another contentious mess, another debacle that dispirits even the optimists.
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.