Geithner Opposes Warren for CFPB
The head of the new consumer financial protection bureau will be one of the most important figures in the financial world. This has led to serious speculation
Jul 31, 202087.3K Shares3.7M Views
The head of the new consumer financial protection bureau will be one of the most important figures in the financial world. This has led to serious speculationover who President Obama might name; concern over who will lead the CFPB even led Sen. Ben Nelson (D-Neb.) to temporarily withdrawhis vote for the Dodd-Frank financial regulatory reform bill, which will be signed into law next week.
The most obvious candidate is Elizabeth Warren, a professor at Harvard Law School and the head of the Congressional Oversight Panel over the Troubled Asset Relief Program, the Treasury Department’s signature effort to stem the financial crisis. She devoted her career to studying how the modern financial system ends up giving families and workers bum deals. The idea for the CFPB is hers. She is, bar none, considered the foremost mind on the topic. As the head of the CFPB, many in Washington hoped, she would act not just as a strong leader, but as a draw for smart minds — a kind of J. Edgar Hoover, sexing up the bureau rather than letting it become just another wan regulatory agency. This might sound a bit strong. But I am serious in saying that most everyone I speak with about this issue — on the Hill, in consumer groups, in think tanks — considers Elizabeth Warren just that good.
Except, Shahien Nasiripour reportsat the Huffington Post, Treasury Secretary Timothy Geithner. Why? Because she has been hard on Treasury’s reform efforts. I would not be surprised to hear push-back from Treasury on the story, but it has been in the airfor some time that the department opposes her. The question, of course, is how much Treasury’s opinion will influence the White House.
Dexter Cooke
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Dexter Cooke is an economist, marketing strategist, and orthopedic surgeon with over 20 years of experience crafting compelling narratives that resonate worldwide.
He holds a Journalism degree from Columbia University, an Economics background from Yale University, and a medical degree with a postdoctoral fellowship in orthopedic medicine from the Medical University of South Carolina.
Dexter’s insights into media, economics, and marketing shine through his prolific contributions to respected publications and advisory roles for influential organizations.
As an orthopedic surgeon specializing in minimally invasive knee replacement surgery and laparoscopic procedures, Dexter prioritizes patient care above all.
Outside his professional pursuits, Dexter enjoys collecting vintage watches, studying ancient civilizations, learning about astronomy, and participating in charity runs.
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