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Sense on Cents Endorses Elizabeth Warren for Consumer Financial Protection Agency

Posted by Larry Doyle on July 17, 2010 11:20 AM |

Elizabeth Warren

Truth, transparency, and integrity!

If our nation is to have any chance to recover from the throes of the worst economic crisis since the 1930s, it had better start elevating and embracing these aforementioned virtues. Time and time again, when we review business practices and political decisions at the center of our crisis, we have seen a glaring lack of these prized virtues. Why and how were these principles compromised? The pursuit of short term profit. Regrettably, this pursuit came at the expense — if not total violation — of these principles. The ultimate long term costs are now being borne by the nation as a whole.

Sense on Cents abhors those who would compromise these core values. Similarly, Sense on Cents embraces those who cherish these values. To that end, I strongly endorse Elizabeth Warren to head the Consumer Financial Protection Agency.

Make no mistake, the pursuit of truth, transparency, and integrity in the course of business is not always an easy proposition. People and institutions who believe they benefit by compromising these principles and accompanying practices will fight hard and spend big money to protect their turf and short term profits. America badly needs an individual who will stand firm and fight hard in return. There is no doubt that Elizabeth Warren is the right person at this point in our nation’s history to head the Consumer Financial Protection Agency.

While Elizabeth is the strongest candidate to head this agency, we learn a lot about our current economic crisis and the Wall Street-Washington incest that lies at its core by witnessing who is working behind the scenes to keep Warren from this post. Who is representing those who would seemingly benefit by a continued blurring if not blinding of our prized virtues in pursuit of short term profits? Reports indicate that none other than Treasury Secretary Tim Geithner is working to block Warren from this critically important post at this critically important time. The Huffington Post reports, Tim Geithner Opposes Nominating Elizabeth Warren to Lead New Consumer Agency:

Treasury Secretary Timothy Geithner has expressed opposition to the possible nomination of Elizabeth Warren to head the Consumer Financial Protection Bureau, according to a source with knowledge of Geithner’s views.

The financial reform bill passed by the Senate on Thursday mandates the creation of a new federal entity charged with protecting consumers from predatory lenders.

But if Geithner has his way, the most prominent advocate for creating the agency may not be picked to lead it.

Warren has been aggressive in putting Geithner and other members of the Obama administration and Congress on the spot in her attempt to generate the transparency needed to understand and expose the practices that caused our economic crisis. She has shown no allegiances other than to our prized virtues and in turn our nation as a whole. Clearly, Geithner has conflicting interests.

We will learn a LOT about President Obama at this point in time. If he chooses not to appoint Elizabeth Warren in the face of the pressure applied by Geithner and in turn the Wall Street banks, we will know for sure that Wall Street still owns Washington.

We have ample evidence that Treasury Secretary Geithner is a compromised individual who is largely beholden to the large Wall Street banks. His attempts to sabotage Ms. Warren’s elevation to head the CFPA confirms that.

President Obama, what’s it going to be?

Will you choose the ‘tough as nails’ Elizabeth Warren, who has shown she will work doggedly for the nation? Or, will you placate Secretary Geithner, pay lip service to the American public, and confirm Wall Street’s continued ownership of Washington by not appointing Ms. Warren?


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