Obama to announce Wall Street critic Elizabeth Warren for powerful new consumer post Friday
By Julie Pace, APFriday, September 17, 2010
Obama to name consumer advocate to new post Friday
WASHINGTON — President Barack Obama on Friday plans to announce Wall Street critic Elizabeth Warren as a special adviser overseeing the creation of a new consumer protection agency.
Warren will report to both the president and Treasury Secretary Timothy Geithner (GYT’-nur). She’ll have the job of starting the consumer bureau established in the financial regulatory bill Obama signed into law earlier this year.
Because Warren is not being named the bureau’s permanent director, she won’t be subject to Senate confirmation and can assume her duties immediately.
Warren is a 61-year-old Harvard University professor and consumer advocate whose criticism of Wall Street and lack of support in the financial industry could have derailed her nomination had her name been sent up to the Senate.
