If this happens, it would be a real boost for Democrats running for office and should help to undo the media meme of 'depressed Democrats' in this election cycle. Bloomberg is reporting that Elizabeth Warren may be appointed as the interim head of the Consumer Financial Protection Bureau, possibly even this week.
An appointment as interim head of the agency could allow Warren, 61, to bypass a confirmation battle in the Senate, where Republicans have raised objections to her possible nomination.
The selection may be made tomorrow or the following day, said the person, who requested anonymity. The final decision on temporarily installing Warren hasn’t yet been made, said another person familiar with the matter.
I don't want to raise hopes on this, because Elizabeth Warren's appointment is probably the single most hot button to push among progressives right now. Expectations are high for her appointment, and rightly so, given that the whole CFPB was her idea. Not appointing her would be akin to political suicide, but putting her in as interim director is a savvy move to lift progressives' spirits and delay a protracted confirmation battle until
Chris Dodd retires after the midterm elections. Her speech at Netroots Nation 2010 demonstrates what a perfect fit this position is for her.
If gestures are any indication, it would appear as though an interim appointment will go to Warren.
White House spokeswoman Amy Brundage said last night that Warren “has been a stalwart voice for American consumers and families and she was the architect of the idea that became the Consumer Financial Protection Bureau.” Obama “will have more to say about the agency and its mission soon,” she said.
It would be a smart and savvy move to make. Let's see it happen.
Update: Christopher Dodd is concerned that Congress will de-fund the agency if Warren is appointed. Seems to me the answer to that is to make sure not to give Republicans the power to do it by getting out and voting in November. It's a stupid tactic on Dodd's part, and every time he opposes Warren, he exposes the influence of bank lobbyists and his own sympathies.