Republicans Drop Opposition to Warren: Now Oppose Everyone

by Stuart Shapiro

Elizabeth Warren has long been in limbo as the presumptive leader of the new Consumer Protection Financial Bureau.  She would face a difficult Senate confirmation because of her long-stated intentions of taking on Wall Street.  However, as many (including me) have argued, this is a fight where the Democrats stand to score political points in addition to appointing a very talented person to head a critical agency.  Republicans apparently agree.  Trying to avoid making a fight about Warren, they have shifted strategies.

On Thursday, 44 Senate Republicans signed a letter to President Obama stating that they will oppose any nominee to head the Consumer Financial Protection Bureau (CFPB) unless the Bureau is first weakened dramatically. This is an interesting development.

As noted in the link, this is not a bad strategy.  I agree with Arkush (who wrote the linked article) that this is still a fight worth having.  It is an excellent way to argue that the Democrats stand for Main Street while the Republicans stand for Wall Street.

By: Stuart Shapiro

Stuart is a professor and the Director of the Public Policy
program at the Bloustein School of Planning and Public Policy at Rutgers
University. He teaches economics and cost-benefit analysis and studies
regulation in the United States at both the federal and state levels.
Prior to coming to Rutgers, Stuart worked for five years at the Office
of Management and Budget in Washington under Presidents Clinton and
George W. Bush.