WASHINGTON (AP) — President Barack Obama has named Wall Street critic Elizabeth Warren to help oversee creation of a new agency to look out for the interests of consumers in their dealings with banks, mortgage companies and other financial institutions.
Obama says the agency was Warren’s idea so it only makes sense that she be “the architect” working with Treasury Secretary Timothy Geithner to get it up and running.
Despite her many critics on Wall Street and in the financial industry, Obama says that both he and Geithner agree that Warren is the best person for the job.
THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP’s earlier story is below.
WASHINGTON (AP) — President Barack Obama has named Wall Street critic Elizabeth Warren to help oversee creation of a new agency to look out for the interests of consumers in their dealings with banks, mortgage companies and other financial institutions.
Obama says the agency was Warren’s idea so it only makes sense that she be “the architect” working with Treasury Secretary Timothy Geithner to get it up and running.
Despite her many critics on Wall Street and in the financial industry, Obama says that both he and Geithner agree that Warren is the best person for the job.
UPDATE:
According to the New York Times, President Obama got around the confirmation process by naming Warren as an “assistant to the president”:
Ms. Warren was named an assistant to the president, a designation that is held by senior White House staff members, including Rahm Emanuel, the chief of staff. She will also be a special adviser to the Treasury secretary, Timothy F. Geithner, and report jointly to Mr. Obama and Mr. Geithner. The financial regulation law delegated to the Treasury Department the powers of the bureau until a permanent director was appointed and confirmed by the Senate to a five-year term.
While the appointment does not preclude the possibility that Ms. Warren could eventually be named director, it does allow her to play a pivotal role in deciding whom to appoint.
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Comments (117)
usaccrcin1
Posted on September 17, 2010 at 4:05pmBypassing the Constitution … AGAIN http://www.55krc.com/cc-common/political/sub.html?feed=104707&article=7603932
Report Post »Sandy-J
Posted on September 17, 2010 at 4:03pmI wonder how Nancy and Harry feel about being bypassed like this. This administration is proving that Congress is irrelevant to them, yet again.
Report Post »Fletch
Posted on September 17, 2010 at 4:02pmare there any non-marxist hetrosexuals amongst his cabinet and czars?
Report Post »Rillobymorning
Posted on September 17, 2010 at 3:46pmObama would love to make the Senate and Congress both irrelevent. That way “the annointed one” could make all the decisions all by himself.
Report Post »Reality54
Posted on September 17, 2010 at 3:46pmAnd we are surprised because …?
Report Post »LasVegas Lady
Posted on September 17, 2010 at 3:42pmOh my! Can 2012 come soon enough? HELP!
Report Post »RealityCheck
Posted on September 17, 2010 at 3:40pmThis shouldn’t be allowed, bypassing Congress and the Senate, appointing Czars, when will the impeachment process begin?
Report Post »plunderpower
Posted on September 17, 2010 at 9:41pmAll Obama’s reality checks bounced. Spend a little time in World Net Daily and you’ll see that the Impeachment of Obama will begin as soon as the House of Representatives is given back to the people. Millions have signed the petition, and many in Congress have already indicated it needs to be done. After his impeachment, Mr. Obama’s worst nightmares will have only just begun. He is in serious trouble.
Report Post »richfromflorida
Posted on September 18, 2010 at 8:34amI pray you are right Plunder. I am tired of seeing this President abuse his power and position to destroy this great country of ours. If Bush had ever tried this garbage the Dems and media would have run him out of town on a rail.
Report Post »melli50
Posted on September 17, 2010 at 3:39pmObama is a real piece of work. Is it 2012 yet?
Report Post »Azmodious
Posted on September 17, 2010 at 3:22pmBusiness as usual. When in doubt, the sleazy marxist lawyer creates more meaningless government agencies.
Report Post »Seniorgolf
Posted on September 17, 2010 at 3:16pmMore fuel to the fire about why businesses won’t hire. Everyday the Obama regime is putting regulations in place to stifle growth. He is scaring the hell out of the private sector
Report Post »CCRYDER
Posted on September 17, 2010 at 3:03pmGreat post Weetsie – I with you on that! And Beckofile’s response is sooo accurate! LOL
Report Post »Joe in Kalifornia
Posted on September 17, 2010 at 2:56pmWe certainly need less and less. A majority of Americans are doing with less and less that is for sure. What we don’t need is another academic. My father was Chief Engoneer for a music instrument company in Fullerton, CA. years ago, he always told me that whenever they hired a a person fresh out of collage the first requirement was for them to forget everything they were taught in school. The point is Osama has surrounded himself with academics who could not survive or make a linving outside acadamia, They have sucked on the public nipple thier whole life.
Report Post »JBaer
Posted on September 17, 2010 at 4:15pmJoe in Kalifornia said: “Osama has surrounded himself with academics who could not survive or make a living outside academia”
How very true!
There is a big difference between having intelligence and having wisdom. These academics (like college professors and those that Obama surrounds himself with) can have lots of intelligence but not a lick of wisdom (common sense) and others with perhaps little to no schooling can have great wisdom (school of hard knocks) even though they may not be as wordly “intelligent”.
I vote for common sense and wisdom! (Nov. 2nd, come quickly!)
Report Post »plunderpower
Posted on September 17, 2010 at 9:47pmLiberals have turned diplomas and degrees into birdcage liners. If you take your degree from a school on the West Coast to the East Coast, you will be laughed at because they know they are looking at a basketweaver impersonating an educated person. Now the schools on the East Coast are turning bad as well. All they are producing are future professors to perpetuate the failure cycle and professional students that learn nothing but live off their grants and loans.
Report Post »CCRYDER
Posted on September 17, 2010 at 2:49pm45 days and counting! Support all TRUE conservative candidates – all donations help! So send your $10 or $25 to O’Donnell, Paul, Rubio and others that are in the running. And let YOUR representatives know that we ARE looking for conservative candidates,NOT so called “moderate” Republicans – aka RINOs. This is how we will make Congress relevent and save America from the evil Obama regime.
Report Post »Reality54
Posted on September 17, 2010 at 3:52pmDitto
Report Post »Freidenker
Posted on September 17, 2010 at 8:14pmBut then keep them out of Washington after they are elected. The place tends to change people.
Report Post »plunderpower
Posted on September 17, 2010 at 9:36pmLike it or not…the bar has been raised on how the people’s business is being conducted. We are sending people that know that. The only one‘s left that haven’t caught on yet are the one’s you voted for. Now go crawl back under your rock, and take your liberal lexicon-job with you, little cockroach.
Report Post »plunderpower
Posted on September 17, 2010 at 9:37pmMy post was for Freidenker.
Report Post »Moonage Daydreamer
Posted on September 17, 2010 at 2:41pmHmmmm, let me tell you this…have any of you got a Firestone card? Tried to use it lately?
I did…guess what…they will not allow you to take 90 days same as cash for anything under $249, I used to be able to charge any amount.
So much for Obamas’ prior credit card bill, that was supposed to halt the raising of interest, make everything fair, etc…
Thanks Obama what a sport!! I gotta pay cash now for fixing my car…and I am on a very limited budget, I just got screwed!! I may not be able to keep it running, and I need it…
((Freak out in the moonage daydream…))
Report Post »ManBearPig
Posted on September 17, 2010 at 4:19pmI feel your pain Moonage. Wish you well and better days ahead – post Obama, of course.
P.S. Love the Bowie reference. One of my faves. :)
Report Post »Beckofile
Posted on September 17, 2010 at 2:37pmI just heard on Fox news that they caught a husband/wife team giving away nuclear secrets. Does anyone know if Obama is planning to pardon the Clinton’s?
Report Post »broker0101
Posted on September 17, 2010 at 2:35pmMay we please see her official job description, (including duties and powers) and details of her compensation package?….What’daya you mean, “NO”?
Report Post »Jackson
Posted on September 17, 2010 at 7:47pmTransparently, NO
Report Post »OneIfByLand
Posted on September 17, 2010 at 2:32pmThere is a lantern hanging in the Old North Church….
Report Post »Veritas
Posted on September 17, 2010 at 2:32pmBe very afraid of this. Even though we are all beginning to feel the wave that is coming in November, it matters not to the marxists already installed in our government. They have set their agenda and nothing is going to slow them down. In fact, they are moving faster to get so much of it in place that it will be hard to get rid of. This woman is going to regulate business and tell businesses how much they can charge and how much profit they can make. BE VERY AFRAID AMERICA!
Report Post »Anonimouse
Posted on September 17, 2010 at 2:36pmVeritas is right. This woman (who absolutely no one voted for or approved except POTUS) is going to have enormous power.
I hope everyone has learned a lesson here – never, never, never, ever put the same party in charge of all three branches.
Report Post »JD Carp
Posted on September 17, 2010 at 2:25pmDo we really need more agencies, more Czars, more regulatory commissions? News flash Mr. President, less government is what is coming at you with the Tea Party express.
Report Post »drattastic
Posted on September 17, 2010 at 2:24pmGreat ! another bureaucracy that’s just what we need .Elect FOOLS and you get stupidity!
Report Post »Psychosis
Posted on September 17, 2010 at 2:15pmOblamo creates another job for one of his socialist college buddies.
well we all know he has AMERICAS best interest in mind (this is a joke)
cant wait to fire all these people
Report Post »Eagle07
Posted on September 17, 2010 at 5:44pmYep now he will say he is creating jobs.
Report Post »ron the veteran
Posted on September 19, 2010 at 7:35ami got a good job for obama. dish washer in the federal prison system. then he really will be cleaning up a mess created by someone else.
Report Post »Weetsie
Posted on September 17, 2010 at 2:13pmI wanna be the the elite czar: My job will be to teach the elite how to act. They must first remove the stick from their butts. Then, they must practice what they preach and give all of their money to me (because I am poor and stupid). Then they can kiss my a**. What do you say Osama, I mean Obama?
Report Post »Beckofile
Posted on September 17, 2010 at 2:35pmYou know the only difference between Obama and Osama is a little BS.
Report Post »CCRYDER
Posted on September 17, 2010 at 3:00pmGreat post A-mouse and Beckofile is right on…LOL
Report Post »CCRYDER
Posted on September 17, 2010 at 3:05pmSorry Weetise, my first reply in error – mea culpa!
Report Post »Freidenker
Posted on September 17, 2010 at 8:10pmDidn’t someone about 2000 years ago tell his followers to give up their property and follow him? Was he a czar too?
Report Post »plunderpower
Posted on September 17, 2010 at 9:28pmFreidenker: There’s a difference between stealing everything you can get your hands on and then making up new ways to steal the rest of it. Your comparison falls flat right there. I‘d say your man Obama is more like a Roman Emperor that loves taxation than a follower of a man that taught money isn’t everything. Go crawl back under your rock.
Report Post »HoaxNChains
Posted on September 18, 2010 at 9:01amDid any of you notice that once Obama became president, the liberal media came up with the new spelling of Bin Laden’s first name????? Usama instead of Osama so it would appear different and not like Obama. The liberals will stop at nothing to promote this poor excuse for a leader.
Report Post »makom
Posted on September 17, 2010 at 2:13pmBut, Why is The Anti-Christ Obama Destroying America. If you truly want to know what is going on; Then you will have to accept these things as the TRUTH. Once you understand the following things; All things will be understood. So I tell you Obama is Satan on Earth, Lawless One, or what ever else you want to call this Demonic Figure. His words describe him, He is a False Hope, If you listen to him you will love him. He carries a Bow without an Arrow. He will conquer all through his speech, his false hoods will capture all who sit and listen to him.
Report Post »2 Thessalonians 2:11-12
11And for this reason God will send them strong delusion, that they should believe the lie, 12 that they all may be condemned who did not believe the truth but had pleasure in unrighteousness.
DesertRose1960
Posted on September 17, 2010 at 2:58pmI love satire and irony! Wait, you are being satirical, aren’t you? I’m new here, I might be reading you wrong.
Report Post »Freidenker
Posted on September 17, 2010 at 8:07pmMaybe not satirical, but possibly delusional.
Report Post »plunderpower
Posted on September 17, 2010 at 9:18pmMakom: Obama wants to collapse the economy so he can jump in with his Hope and Change you can believe in just like the National Socialist Party did in Germany. Hitler did it in four years, and Obama thought he could too. “Your money has failed you, your capitalism has failed you. You need change you can believe in.” said Hitler. Obama’s time is short, and everything is a ruse to cover up his agenda. Meanwhile, Impeachment is coming…and they have millions of Americans signing petitions for it and members of Congress wanting to proceed with it. He has grown his own list of high crimes and misdemeanors and still going strong at making more. Obama is anti-anything good about this great nation. Impeachment is the least of his worries…He is in handcuff and carry out trouble.
Report Post »leftylemn
Posted on September 17, 2010 at 2:13pmDespite her many critics on Wall Street and in the financial industry, Obama (liar)says that both he and Geithner (tax cheat) agree that Warren is the best person for the job. I feel so much better.
Report Post »Beckofile
Posted on September 17, 2010 at 2:32pmWell they have known each other since even before the Ayers or Rev. Wright days. This alone would qualify her. If you have known the Messaih that long your vertually up for saint hood. Another academic that will, let me wonder,, will be a follower of Keynes and any other theory that would give government the right to spend until we are rich???
Report Post »tobywil2
Posted on September 17, 2010 at 3:48pmIf Obama’s teleprompter malfunctioned and flashed the TRUTH and Obama chocked on that truth, could the HEIMLICH MANEUVER be applied in time to avoid Biden becoming President? http://commonsense21c.com/
Report Post »leftylemn
Posted on September 17, 2010 at 2:11pmSo much for the three equal powers in government. Congress is no longer relevent in the Obama regime.
Report Post »Anonimouse
Posted on September 17, 2010 at 2:23pmJust more ruling against the will of the people. He knows she is unacceptable but he must have his way so has to go “around” the rules. He has no character and is not deserving of respect. My parents taught me to respect the office but this man is just too much to ask.
Report Post »texas1964
Posted on September 17, 2010 at 2:54pmOh, Little Timmy approves of her. I should sleep with one eye open. The thought makes me shudder
Report Post »GENZERO
Posted on September 17, 2010 at 4:33pmWhat we really need is elected representatives that have the moxie to work to reverse the appointment powers of the president…probably never going to happen…until every elected representative decides to be unselfish…I must be dreaming someone pinch me!
Report Post »Boldnfresh
Posted on September 17, 2010 at 4:52pmGood for President Obama – don’t let the Republicans stop saving America. Middle Class revolt and stop the Republicans
Report Post »timeisnow
Posted on September 17, 2010 at 5:09pmNothing is relevant to Obama, only his Agenda, he goes around all laws or sues to get what he wants…Is it November yet?
Report Post »timeisnow
Posted on September 17, 2010 at 7:20pmThis is why Obama is One and Done! He is corrupt as the day is long…Is it November yet???LOL
Report Post »plunderpower
Posted on September 17, 2010 at 9:06pmHer job is to look out for consumers? in their dealings with banks, mortgage companies and other financial institutions? That’s rather counterproductive when you have people like Barney Frank, Dodd, Rangel, plus a myriad of tax dodgers around. Then again she is an assistant to the President, which means she‘ll get paid to watch what the consumers do until there aren’t any consumers left.
Report Post »mattyb
Posted on September 18, 2010 at 4:07amYeah, isn’t this how Saddam Hussein chose his cabinet. Self picked by him without any vetting.
Report Post »Compete or Lose
Posted on September 18, 2010 at 10:45amWhatever happened to the transparent government campaign pledge? This is the action of a desparate president.
Report Post »ron the veteran
Posted on September 19, 2010 at 7:20amif we dont demand that the whole bunch be thrown in prison. we must nip this whole mess right in the bud. they have all worked to spend this nation into the poor house. we must hold them accountable. and yes this means jail. the attempted overthrow of our form of government. the out of control spending when we are broke. and the adolph hitler type attempts to indoctranate our kids. if this isnt enough you to feel as i do what is? elected or not it didnt give obama the right or power to do what hes done. join me in demanding they all spend the rest of their lives behind bars just like the bars they are trying to put us behind. LOCK THEM UP!
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