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"It's finally alive. The Consumer Financial Protection Bureau, I mean. After 10 months of preparation — hiring staff, creating a management structure, laying out an initial agenda — the bureau officially hit the starting gate on Thursday, a year to the day after the Dodd-Frank financial reform bill was signed into law by President Obama. And, of course, the person who hired most of that staff, created that management structure and laid out that agenda — indeed, the person most responsible for the bureau’s very existence — is departing. This coming week will be Elizabeth Warren’s last at the bureau. So accustomed are we to our nation’s poisoned politics that nobody even thinks this is strange.
“In a world in which the Republicans would have let me have the job, yeah, I would have been glad to have stayed,” she told me earlier this week when I asked if she was disappointed that President Obama had decided, in the end, to nominate Richard Cordray, the former attorney general of Ohio, to be the bureau’s first director. (Cordray was already on the premises; Warren had recruited him to be the bureau’s chief enforcement officer.) “But they made it so clear that was never going to happen.”
Led by Senator Richard Shelby of Alabama — whose descent from respected member of the Senate Banking Committee to partisan political hack has been truly stunning — Senate Republicans had vowed to block Warren from ever being able to run the agency she brought to life."
"It's finally alive. The Consumer Financial Protection Bureau, I mean. After 10 months of preparation — hiring staff, creating a management structure, laying out an initial agenda — the bureau officially hit the starting gate on Thursday, a year to the day after the Dodd-Frank financial reform bill was signed into law by President Obama. And, of course, the person who hired most of that staff, created that management structure and laid out that agenda — indeed, the person most responsible for the bureau’s very existence — is departing. This coming week will be Elizabeth Warren’s last at the bureau. So accustomed are we to our nation’s poisoned politics that nobody even thinks this is strange.
“In a world in which the Republicans would have let me have the job, yeah, I would have been glad to have stayed,” she told me earlier this week when I asked if she was disappointed that President Obama had decided, in the end, to nominate Richard Cordray, the former attorney general of Ohio, to be the bureau’s first director. (Cordray was already on the premises; Warren had recruited him to be the bureau’s chief enforcement officer.) “But they made it so clear that was never going to happen.”
Led by Senator Richard Shelby of Alabama — whose descent from respected member of the Senate Banking Committee to partisan political hack has been truly stunning — Senate Republicans had vowed to block Warren from ever being able to run the agency she brought to life."
