It's gone, surgically removed by specialists from the Republican congressional ranks. Now Obama has lost all chance of ever being able not to roll over on command.
Elizabeth Warren is out. The best possible candidate for director of the Consumer Financial Protection Bureau has been passed over by Obama and it's no secret why. The corporate lobbyists who call the shots with Republican legislators wanted Warren trashed at any cost. As instructed, Republicans fiercely opposed Warren's nomination. Obama rolled over. End of story.
The agency, with Warren at the helm, was expected to tightly regulate the student loans, mortgage lending and credit card industry. With no director - and there isn't one on the horizon - the CFPB can regulate nothing.
4 comments:
I agree that Obama is weak and he is trying to negotiate with intransigent House Republicans. However, in case of Elizabeth Warren it would look that her confirmation would have been almost impossible.
Debt ceiling is another burning issue. This shows that despite its own flaws parliamentary system is way better than US system.
it would look that her confirmation would have been almost impossible.
Obama's had the opportunity to put Warren in the job through a recess appointment but that -- and here's where I depart slightly from our host's post -- would have defied the bankers which is actually a bigger problem than defying Republicans.
At first I thought - I really wanted to believe - that American progressives were too tough on Obama, that he would somehow come through and pull America's political centre back - but that illusion is over. I wonder if she'll be on Bill Maher's show on Friday?
When has a politician ever, ever wanted an honest peer around? That is the only question that needs to be asked here.
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