I’ll be down at the White House this afternoon, in the Rose Garden, when President Obama makes a big appointment: naming Richard Cordrey the first Direction of the new Consumer Financial Protection Bureau.
Now, in a way, this is good news. Until a year ago, Cordrey was the Attorney General of Ohio, serving with Governor Ted Strickland. He’s got the reputation of a strong consumer advocate and will no doubt do a good job as head of the new consumer agency.
On the other hand, it’s bad news. Because he got the job instead of Elizabeth Warren.
As we know, Warren’s the person who proposed the new consumer protection bureau. She’s the person Obama tapped to set up the new agency. And she’s done a remarkable job: hiring over 300 new employees; adopting new, simpler forms for getting a mortgage; meeting with banks and insurance companies and getting their support.
In the minds of everybody except extreme right-wingers in Congress, Elizabeth Warren – after inspiring and creating the new consumer protection bureau – was the obvious best choice to be its first director.
But, instead of fighting for her, President Obama decided to name somebody else, instead.
That’s his right. But it does make you wonder: Is he willing to fight for anything?
That’s my parting shot for today.