PR Watch: Tell the President to Put Elizabeth Warren to Work!

– Consumer-focused reformist is needed at Consumer Financial Protection Bureau (CFPB) –

By Mary Bottari at the Center for Media and Democracy

One of the strongest parts of the Wall Street reform bill that just passed Congress is the Consumer Financial Protection Bureau (CFPB). But whether the new bureau delivers on its promise to protect consumers depends in large part on who runs it. The agency was the brain-child of Harvard Professor Elizabeth Warren who has championed consumers and taxpayers for decades.

Apparently, U.S. Treasury Secretary Tim Geithner would rather see his top aide, Michael Barr, in the position. While Barr has been good on the CFPB, he is off-base when he applauds Treasury’s Home Affordable Modification Program (HAMP) as a success.

Warren on the other hand has been a strong and consistent critic of the failures of HAMP in her position on the Congressional Oversight Panel for the Troubled Asset Relief Program(TARP) bailout. Below, you can watch her grill Geithner on this point just a few weeks ago. Unlike Geithner and crew, she has brought a much-needed sense of urgency to the foreclosure crisis that is devastating so many lives and communities.

Tell President Obama to put Warren to work and appoint her as the head of the new agency by signing our petition today!

PETITION LANGUAGE

Dear President Obama,

Thank you for your support of a Consumer Financial Protection Bureau. But whether the new bureau delivers on its promise depends in large part on who runs it. For this agency to be a success, it needs to be led by a real reformer, with a proven track record of fighting for consumers, someone who will crack down on predatory mortgage loans, hidden bank fees, college loan traps and much more. The credentials and proven track record of Harvard Law Professor Elizabeth Warren put her head and shoulders over all other candidates. News reports indicate that Treasury Secretary Tim Geither doesn’t want her and Senate leaders think she may be hard to confirm. We need you to champion her candidacy and secure this important appointment for the American people.

Sincerely,

(Add your name to the petition by clicking here.)