Harvard Professor Elizabeth Warren, who was on the short-list to be on the Supreme Court, finds herself on another to become director of the new Consumer Financial Protection Agency. Support for her from labor groups like Service Employees International Union (SEIU), a union representing about 2.2 million workers in over 100 occupations, is mounting. The following was posted on the SEIU website within the past hour:
SEIU: Elizabeth Warren is the Right Person to Head the CFPB
What do America’s families need? We need banking products that help us buy a home, help us save for retirement and our children’s education. We need an end to trick mortgages, an end to predatory bank and overdraft fees, and an end to credit card contracts that require a law degree to understand.
The Wall Street reform bill being signed into law this week creates a new consumer watchdog to end the predatory practices Wall Street used to plunge our country into economic misery. And Elizabeth Warren is the right person to be America’s new consumer protector in chief.
Warren has spent her entire career fighting for the interests of working families and supporting policies to help rebuild our middle class. In fact, Warren even came up with the concept of a new consumer watchdog. As head of the new Consumer Financial Protection Bureau, she’ll work each and every day to stand up to Wall Street and demand commonsense financial products that will protect us from the next economic meltdown.
Who is Elizabeth Warren?
Elizabeth Warren is a professor of law at Harvard Law School, where she teaches contract law, bankruptcy, and commercial law . Her scholarly articles and books reflect her devotion to three decades of studying the economics of middle class families. All Your Worth: The Ultimate Lifetime Money Plan, co-authored with her daughter is a bestseller.
In light of midterm elections, with most politicians trying to distance themselves from Wall Street, President Obama putting her at the top of his list will play favorably with voters this fall. Although his appointment could face resistance from Republicans in the Senate, Mr. Obama has the option of by-passing another distraction if he makes her installation by executive order.
Question: Considering Professor Warren’s body of work on the plight of the middle class, is there a person better qualified to protect American consumers? Please post your comments below.