I am thrilled with this news!! I've been watching Elizabeth Warren for years AND I trust her! As disappointing as Obama has been at times, this truly gives me renewed hope for real change. REAL change. Elizabeth Warren is not going to take any corporate side - be it Republican or Democratic - that has been part of the great redistribution of wealth upward that has been taking place over the last 30 years. She is the real thing - Elizabeth Warren is actually going to act in the best interests of Americans. Perhaps this will not include the top 2% whose greed and addiction to power and things fuels an immoral bottomless pit feeling endlessly entitled to more, but rather the rest of us. This is truly great news!! Peace... Molly************
The White House has tapped Elizabeth Warren as a special adviser to help set up the Consumer Financial Protection Bureau, affirming its support for a tough new agency charged with protecting consumers from abusive lenders.
The move allows her to act as an interim head of the CFPB and will enable her to begin setting up the agency immediately and prevent the GOP from filibustering her nomination. Warren could serve until President Barack Obama nominates a permanent director to serve the five-year term -- a nomination he's not required to make for some time. Obama also could nominate her as the permanent director in the near future, a prospect that has been discussed among top aides, according to a person familiar with White House deliberations. Warren formally will be named as a special adviser reporting directly to Obama, and serving in a similar capacity to Treasury Secretary Timothy Geithner, later this week.
The CFPB was a cornerstone of Obama's financial reform package and Warren is credited as the intellectual founder of the agency -- a proposal she advocated three years ago. The ability of the administration to nominate an acting director to serve while the agency is launched within the Treasury Department was first reported by HuffPost in July.
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Redistribution of wealth upward has been happening under our noses for decades. May we all grow more informed and fierce in our passion and action for change... "Today, one in five Americans is unemployed, underemployed or just plain out of work. One in nine families can't make the minimum payment on their credit cards. One in eight mortgages is in default or foreclosure. One in eight Americans is on food stamps. More than 120,000 families are filing for bankruptcy every month. The economic crisis has wiped more than $5 trillion from pensions and savings, has left family balance sheets upside down, and threatens to put ten million homeowners out on the street." ~ Elizabeth Warren
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