One might be forgiven for believing that the Republicans have a death wish. No longer able to run on a credible national security platform, they appear to be positioning themselves on another four losing propositions: * refusing to lift the debt ceiling, even though business leaders as prominent as Jamie Dimon have deplored the irresponsibility…
According to ABC News, President Obama is about to appoint Elizabeth Warren to a position reporting directly to the President and residing in the Treasury Department. Her role will be setting up the new Consumer Financial Protection Bureau. This is a brilliant move. Rather than getting into a fight over her nomination as permanent head…
The Obama Administration has been steadily losing its luster in many areas, but perhaps nowhere more so than in the field of financial regulation, where leadership is more urgently needed than anywhere else. Today’s American Banker (proprietary content, unfortunately) carries a story, appropriately entitled “White House backs itself into a corner letting CFPB remain leaderless,”…
Last Monday, August 2nd, I appeared on Ian Master’s Daily Briefing, a Los Angeles radio program. The main focus of our chat was why Elizabeth Warren is far and away the best choice to lead the Bureau of Consumer Financial Protection. Since that interview, I have been ruminating over a tangential question Ian Masters posed. He…
Last Wednesday, July 21, 2010, eighteen months after taking office, President Barack Obama used eleven pens to sign into law the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. In the tradition of many Presidents before him, Obama made use of multiple pens. He did so to create historic artifacts – or souvenirs…
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