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Elizabeth Warren’s Soapbox

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Two weeks ago, I suggested Obama would do well to hire the woman who wrote the book on the struggles of the middle class.

Today, he did that.

This afternoon, I suggested that the White House needed to get their newest employee out on teevee, talking to the middle class.

For the White House, not only do they need to fulfill whatever promises they made to Warren. Just as importantly, though, if they don’t actually use the fact that they finally have someone who can speak for and to the middle class (without the kind of gaffes that Joe Biden inevitably makes) to their advantage they will be really hurting themselves. Is Warren booked for the Sunday shows this weekend? If not, why not?

Either the White House or Warren herself made sure she did the round of news shows to talk about her appointment.

As I said earlier, it pays to be cautious about such things.

But–as Rachel Maddow pointed out–at the very least the White House now has a person who can and will, relentlessly, speak about the concerns and challenges of the middle class.

And that–all by itself–is a vast improvement on what the Administration had yesterday.

Congratulations and Good Luck to Elizabeth Warren

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I’m cautiously optimistic with the dual appointment of Elizabeth Warren to be Assistant to the President to work at Treasury to set up the Consumer Financial Protection Board.

Frankly, no one knows what this appointment will mean in practice except perhaps Obama, Warren, and Timmeh Geithner. And no one knows how well Warren will negotiate the inevitable bureaucratic battles ahead, particularly with whoever replaces Rahm.

But I’m optimistic for two reasons. First, I have a lot of trust in Warren herself. She’s proven her ability to surprise her opponents in bureaucratic battles thus far. I also suspect (though don’t know for a fact) that she negotiated the Assistant to the President position as protection against anything Timmeh and Larry Summers might try. She seems to have demanded certain things with this nomination. And gotten them. And–as DDay linked earlier–she has expressed confidence that this is a win.

The President asked me, and I enthusiastically agreed, to serve as an Assistant to the President and Special Advisor to the Secretary of the Treasury on the Consumer Financial Protection Bureau. He has also asked me to take on the job to get the new CFPB started—right now. The President and I are committed to the same vision on CFPB, and I am confident that I will have the tools I need to get the job done. [my emphasis]

So given the respect I have for Warren, I take her at her word that she will have the power to make of CFPB what it needs to be.

The other reason I’m cautiously optimistic is because the Chamber of Commerce is screaming like a stuck pig over these developments. Which, in my book, is generally a sign that something good has happened.

All that said, the appointment of Warren just means that both the White House and activists have more work to do. For the White House, not only do they need to fulfill whatever promises they made to Warren. Just as importantly, though, if they don’t actually use the fact that they finally have someone who can speak for and to the middle class (without the kind of gaffes that Joe Biden inevitably makes) to their advantage they will be really hurting themselves. Is Warren booked for the Sunday shows this weekend? If not, why not?

As for the rest of us, one of the reasons I think Warren was successful in negotiating what she sees as a successful resolution to this position is because her broad support was very clear to the White House. A wide group of people made it clear that Warren was the only acceptable candidate for this position.

If we get complacent, it’ll be a lot harder for Warren to do what she’d like to do with the position.

Progressives finally won something from this Administration. Maybe. But we’re only going to be able to keep it if we continue to make noise.

As the White House Dithers on Warren, 525,000 Homes Have Been Foreclosed On

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TPM captures the current state of play of the rumors that the White House will appoint Elizabeth Warren as interim head of the Consumer Finance Protection Bureau:

Reports coming in that President Obama will name Elizabeth Warren as interim director of the consumer protection bureau created by the new financial regulatory law.

Late Update: Maybe not so fast. Fox was one of the outlets originally reporting this and has now retracted that report, saying they may have “misheard” White House spokesperson Bill Burton on board Air Force One. Reuters says Burton simply confirmed that Warren is “obviously in the mix.”

Later Update: The pool report from Air Force One reads as follows:

on Warren:no announcements but soon. no confirmation of interim appointment. essentially, nothing new

The Boy Who Cried Wolf Update: White House releases statement knocking down the reports:

Elizabeth Warren has been a stalwart voice for American consumers and families and she was the architect of the idea that became the Consumer Financial Protection Bureau. The President will have more to say about the agency and its mission soon.

Kicking Dead Horse Update: White House pool reporter sends supplement to pool report: “For emphasis: Burton did not say anything new about Warren.”

Now, when Obama was asked whether he was going to appoint Warren last week, in addition to talking about what a close friend Warren is of his, he also asserted that it has “only been a couple of months” since the CFPB was created (starting at 22:15).

Now, the idea for this agency was Elizabeth Warren’s.  She’s a dear friend of mine.  She’s somebody I’ve known since I was in law school.  And I have been in conversations with her.  She is a tremendous advocate for this idea.  It’s only been a couple of months, and this is a big task standing up this entire agency, so I’ll have an announcement soon about how we’re going to move forward. And I think what’s fair to say is, is that I have had conversations with Elizabeth over the course of these — over these last couple of months. But I’m not going to make an official announcement until it’s ready. [my emphasis]

That suggests the Administration feels little urgency about getting someone at Treasury who will speak for the needs of consumers as the rest of the agency caters to the needs of the banksters.

I wonder whether the roughly 525,000 homeowners who have lost their homes to foreclosure since the Financial Reform bill was signed think that there’s no urgency to having a consumer advocate at Treasury?